Navient Corp (NASDAQ:NAVI) declared a quarterly dividend on Friday, August 7th, Zacks reports. Stockholders of record on Friday, September 4th will be paid a dividend of 0.16 per share by the credit services provider on Friday, September 18th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 7.04%. The ex-dividend date of this dividend is Thursday, September 3rd.
Navient has a dividend payout ratio of 21.9% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Navient to earn $2.40 per share next year, which means the company should continue to be able to cover its $0.64 annual dividend with an expected future payout ratio of 26.7%.
NASDAQ:NAVI opened at $9.09 on Tuesday. The company has a market cap of $1.81 billion, a PE ratio of 5.98 and a beta of 1.91. Navient has a twelve month low of $4.07 and a twelve month high of $15.50. The company has a current ratio of 11.82, a quick ratio of 11.82 and a debt-to-equity ratio of 37.75. The company’s 50 day moving average is $8.25 and its two-hundred day moving average is $8.39.
Navient (NASDAQ:NAVI) last released its earnings results on Tuesday, July 21st. The credit services provider reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.47 by $0.45. The company had revenue of $329.00 million for the quarter, compared to the consensus estimate of $284.50 million. Navient had a net margin of 7.38% and a return on equity of 21.05%. As a group, analysts expect that Navient will post 2.86 EPS for the current fiscal year.
Several research firms have weighed in on NAVI. Zacks Investment Research raised shares of Navient from a “strong sell” rating to a “hold” rating and set a $8.50 target price on the stock in a research report on Monday, July 27th. Compass Point reissued a “market perform” rating and set a $11.00 target price on shares of Navient in a research report on Monday, August 3rd. Wedbush decreased their price objective on shares of Navient from $18.00 to $10.00 and set a “neutral” rating for the company in a research note on Wednesday, May 20th. Finally, BidaskClub cut shares of Navient from a “buy” rating to a “hold” rating in a research note on Tuesday, August 25th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $11.94.
In other news, CEO John F. Remondi bought 50,000 shares of the firm’s stock in a transaction that occurred on Friday, July 31st. The stock was purchased at an average cost of $7.82 per share, for a total transaction of $391,000.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Anna Escobedo Cabral bought 6,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 13th. The stock was purchased at an average price of $8.81 per share, with a total value of $52,860.00. Following the completion of the purchase, the director now owns 24,226 shares in the company, valued at $213,431.06. The disclosure for this purchase can be found here. Insiders own 1.85% of the company’s stock.
Navient Corporation provides education loan management and business processing solutions for education, healthcare, and government clients at the federal, state, and local levels in the United States. It operates in three segments: Federal Education Loans, Consumer Lending, and Business Processing. The company holds and acquires Federal Family Education Loan Program loans that are insured or guaranteed by state or not-for-profit agencies; and performs servicing and asset recovery services on its own loan portfolio, and federal education loans owned by the United States Department of Education and other institutions.
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