Navient Corp (NASDAQ:NAVI) announced a quarterly dividend on Friday, August 7th, Zacks reports. Investors of record on Friday, September 4th will be given a dividend of 0.16 per share by the credit services provider on Friday, September 18th. This represents a $0.64 annualized dividend and a 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. Equities 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%.
Shares of NASDAQ:NAVI opened at $9.09 on Tuesday. The firm’s 50 day moving average price is $8.25 and its 200 day moving average price is $8.39. The stock has a market cap of $1.81 billion, a price-to-earnings ratio of 5.98 and a beta of 1.91. Navient has a fifty-two week low of $4.07 and a fifty-two week high of $15.50. The company has a quick ratio of 11.82, a current ratio of 11.82 and a debt-to-equity ratio of 37.75.
Navient (NASDAQ:NAVI) last announced its quarterly earnings data on Tuesday, July 21st. The credit services provider reported $0.92 EPS for the quarter, beating the Zacks’ 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%. On average, equities analysts anticipate that Navient will post 2.86 EPS for the current year.
In other news, CEO John F. Remondi bought 50,000 shares of Navient stock in a transaction dated Friday, July 31st. The shares were acquired at an average cost of $7.82 per share, with a total value of $391,000.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Anna Escobedo Cabral bought 6,000 shares of the firm’s stock in a transaction dated 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 directly owns 24,226 shares of the company’s stock, valued at approximately $213,431.06. The disclosure for this purchase can be found here. 1.85% of the stock is owned by corporate insiders.
A number of analysts recently commented on NAVI shares. BidaskClub cut Navient from a “buy” rating to a “hold” rating in a research report on Tuesday, August 25th. Zacks Investment Research upgraded Navient from a “strong sell” rating to a “hold” rating and set a $8.50 price objective for the company in a report on Monday, July 27th. Compass Point restated a “market perform” rating and set a $11.00 price target on shares of Navient in a research note on Monday, August 3rd. Finally, Wedbush reduced their price objective on Navient from $18.00 to $10.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 20th. One analyst has rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $11.94.
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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