Analysts Anticipate NIC Inc. (EGOV) Will Announce Earnings of $0.12 Per Share

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Wall Street analysts forecast that NIC Inc. (NASDAQ:EGOV) will report earnings per share (EPS) of $0.12 for the current fiscal quarter, Zacks Investment Research reports. Three analysts have made estimates for NIC’s earnings, with the lowest EPS estimate coming in at $0.11 and the highest estimate coming in at $0.14. NIC posted earnings of $0.16 per share in the same quarter last year, which suggests a negative year-over-year growth rate of 25%. The firm is scheduled to report its next earnings results on Wednesday, January 30th.

According to Zacks, analysts expect that NIC will report full year earnings of $0.85 per share for the current year, with EPS estimates ranging from $0.83 to $0.86. For the next fiscal year, analysts anticipate that the company will report earnings of $0.70 per share, with EPS estimates ranging from $0.66 to $0.73. Zacks’ EPS averages are an average based on a survey of research analysts that follow NIC.

NIC (NASDAQ:EGOV) last issued its quarterly earnings data on Thursday, November 1st. The software maker reported $0.24 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.17 by $0.07. NIC had a return on equity of 32.21% and a net margin of 16.94%. The company had revenue of $87.03 million for the quarter, compared to analysts’ expectations of $83.06 million. During the same period in the previous year, the firm posted $0.21 earnings per share. The firm’s revenue for the quarter was up 3.0% on a year-over-year basis.

EGOV has been the topic of several analyst reports. ValuEngine cut NIC from a “sell” rating to a “strong sell” rating in a research note on Wednesday, September 19th. TheStreet lowered NIC from a “b-” rating to a “c+” rating in a research report on Monday, October 1st. BidaskClub upgraded NIC from a “sell” rating to a “hold” rating in a research report on Saturday, October 13th. Loop Capital set a $15.00 target price on NIC and gave the company a “hold” rating in a research report on Monday, November 5th. Finally, Barrington Research restated a “hold” rating on shares of NIC in a research report on Monday, October 29th. One equities research analyst has rated the stock with a sell rating and five have issued a hold rating to the stock. NIC has an average rating of “Hold” and a consensus target price of $15.33.

Shares of NASDAQ EGOV opened at $13.32 on Friday. NIC has a 1-year low of $11.76 and a 1-year high of $17.70. The company has a market cap of $866.07 million, a price-to-earnings ratio of 17.30, a P/E/G ratio of 1.86 and a beta of 0.63.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 18th. Shareholders of record on Tuesday, December 4th were given a dividend of $0.08 per share. The ex-dividend date was Monday, December 3rd. This represents a $0.32 annualized dividend and a dividend yield of 2.40%. NIC’s dividend payout ratio (DPR) is presently 41.56%.

Several large investors have recently made changes to their positions in the business. Vanguard Group Inc boosted its position in shares of NIC by 2.1% during the third quarter. Vanguard Group Inc now owns 6,758,293 shares of the software maker’s stock valued at $100,023,000 after buying an additional 138,642 shares during the period. Marshall Wace LLP purchased a new position in shares of NIC during the third quarter valued at approximately $6,413,000. Vanguard Group Inc. boosted its position in shares of NIC by 2.1% during the third quarter. Vanguard Group Inc. now owns 6,758,293 shares of the software maker’s stock valued at $100,023,000 after buying an additional 138,642 shares during the period. Morgan Stanley boosted its position in shares of NIC by 52.0% during the third quarter. Morgan Stanley now owns 550,344 shares of the software maker’s stock valued at $8,144,000 after buying an additional 188,386 shares during the period. Finally, Legal & General Group Plc boosted its holdings in shares of NIC by 7.6% in the third quarter. Legal & General Group Plc now owns 157,967 shares of the software maker’s stock valued at $2,339,000 after purchasing an additional 11,193 shares during the period. Institutional investors and hedge funds own 89.37% of the company’s stock.

About NIC

NIC Inc, together with its subsidiaries, provides digital government services that enable governments to use technology to provide various services to businesses and citizens in the United States. The company's outsourced portal business enters into long-term contracts with state and local governments to design, build, and operate Internet-based and enterprise-wide portals on their behalf.

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