Navient Corp Announces Quarterly Dividend of $0.16 (NAVI)

Navient Corp (NASDAQ:NAVI) announced a quarterly dividend on Thursday, May 23rd, Wall Street Journal reports. Shareholders of record on Friday, June 7th will be given a dividend of 0.16 per share by the credit services provider on Friday, June 21st. This represents a $0.64 annualized dividend and a yield of 4.94%. The ex-dividend date is Thursday, June 6th.

Navient has raised its dividend by an average of 10.1% per year over the last three years. Navient has a dividend payout ratio of 33.3% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Navient to earn $2.14 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 29.9%.

NAVI traded down $0.26 on Thursday, hitting $12.96. 1,134,474 shares of the company traded hands, compared to its average volume of 1,823,643. The company has a quick ratio of 12.43, a current ratio of 12.43 and a debt-to-equity ratio of 25.60. The company has a market cap of $3.25 billion, a PE ratio of 6.20, a P/E/G ratio of 2.15 and a beta of 2.34. Navient has a 12-month low of $8.23 and a 12-month high of $15.02.

Navient (NASDAQ:NAVI) last posted its quarterly earnings data on Tuesday, April 23rd. The credit services provider reported $0.58 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.46 by $0.12. The firm had revenue of $285.00 million during the quarter, compared to the consensus estimate of $304.67 million. Navient had a return on equity of 15.10% and a net margin of 6.99%. During the same period in the prior year, the business earned $0.43 EPS. As a group, sell-side analysts expect that Navient will post 2.1 EPS for the current fiscal year.

In other Navient news, EVP Stephen M. Hauber sold 9,000 shares of the business’s stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $13.63, for a total transaction of $122,670.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 1.85% of the company’s stock.

Several equities analysts have issued reports on NAVI shares. BidaskClub upgraded Navient from a “hold” rating to a “buy” rating in a research report on Friday, January 25th. Oppenheimer reiterated a “hold” rating on shares of Navient in a research report on Friday, January 25th. Zacks Investment Research cut Navient from a “hold” rating to a “sell” rating in a research report on Tuesday, January 29th. ValuEngine upgraded Navient from a “strong sell” rating to a “sell” rating in a research report on Tuesday, February 19th. Finally, JPMorgan Chase & Co. upgraded Navient from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $12.50 to $14.50 in a research report on Thursday, April 25th. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Navient has an average rating of “Buy” and an average price target of $15.21.

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About Navient

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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Dividend History for Navient (NASDAQ:NAVI)

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