Navient Corporation Plans Quarterly Dividend of $0.16 (NASDAQ:NAVI)

Navient Corporation (NASDAQ:NAVI) announced a quarterly dividend on Thursday, August 13th. Shareholders 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 c) dividend on an annualized basis and a yield of 6.9%. The ex-dividend date of this dividend is Friday, September 4th.

Navient has a payout ratio of 47.8% meaning its dividend is sufficiently covered by earnings. Analysts expect Navient to earn $0.95 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 67.4%.

Navient Trading Up 4.5%

Shares of NASDAQ:NAVI opened at $9.24 on Friday. Navient has a 12-month low of $7.33 and a 12-month high of $13.87. The business’s fifty day simple moving average is $8.45 and its 200-day simple moving average is $8.65. The company has a market capitalization of $866.53 million, a PE ratio of -18.48 and a beta of 1.18. The company has a current ratio of 10.53, a quick ratio of 7.67 and a debt-to-equity ratio of 16.73.

Navient (NASDAQ:NAVI) last issued its quarterly earnings data on Thursday, August 6th. The credit services provider reported $0.29 earnings per share for the quarter, topping analysts’ consensus estimates of $0.20 by $0.09. Navient had a positive return on equity of 4.68% and a negative net margin of 1.64%.The firm had revenue of $150.00 million during the quarter, compared to analysts’ expectations of $142.87 million. During the same period in the prior year, the business posted $0.20 EPS. As a group, equities research analysts predict that Navient will post 0.76 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on NAVI shares. Barclays lifted their price objective on shares of Navient from $7.00 to $8.00 and gave the stock an “underweight” rating in a research report on Thursday, April 30th. Weiss Ratings reissued a “sell (d)” rating on shares of Navient in a research report on Wednesday, June 24th. TD Cowen restated a “sell” rating on shares of Navient in a research note on Friday, August 7th. JPMorgan Chase & Co. cut their price target on shares of Navient from $9.50 to $8.00 and set a “neutral” rating on the stock in a report on Monday, July 13th. Finally, Morgan Stanley reduced their price target on Navient from $12.00 to $9.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 16th. Five investment analysts have rated the stock with a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus target price of $9.14.

Navient Company Profile

Navient Corporation (NASDAQ: NAVI) is a specialized provider of asset management and business processing solutions, with a primary focus on student loan servicing. Established in 2014 through the separation from Sallie Mae, Navient assumed responsibility for servicing federal and private education loans, positioning itself as one of the largest servicers of higher education debt in the United States.

The company’s core activities center on federal student loan servicing under contracts with the U.S.