Navient Corporation (NASDAQ:NAVI) announced a quarterly dividend on Tuesday, November 14th, Zacks reports. Stockholders of record on Friday, December 1st will be given a dividend of 0.16 per share by the credit services provider on Friday, December 15th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 5.18%. The ex-dividend date of this dividend is Thursday, November 30th.
Navient Corporation (NAVI) traded up $0.27 during trading on Wednesday, hitting $12.35. The stock had a trading volume of 5,162,700 shares, compared to its average volume of 2,818,385. Navient Corporation has a 1-year low of $11.48 and a 1-year high of $17.95. The company has a quick ratio of 33.10, a current ratio of 33.10 and a debt-to-equity ratio of 30.58. The stock has a market capitalization of $3,177.19, a price-to-earnings ratio of 6.82 and a beta of 2.39.
Navient Corporation (NASDAQ:NAVI) last posted its quarterly earnings data on Tuesday, October 17th. The credit services provider reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.50 by $0.05. Navient Corporation had a return on equity of 14.09% and a net margin of 10.88%. The business had revenue of $343.00 million for the quarter, compared to analyst estimates of $361.33 million. During the same quarter in the prior year, the company earned $0.50 earnings per share. The company’s revenue was down 15.3% on a year-over-year basis. equities research analysts expect that Navient Corporation will post 1.76 EPS for the current year.
A number of analysts have recently weighed in on the company. Barclays PLC reaffirmed an “overweight” rating and set a $17.00 price objective on shares of Navient Corporation in a research report on Tuesday. BMO Capital Markets reissued a “hold” rating and issued a $16.00 target price (down previously from $17.00) on shares of Navient Corporation in a report on Thursday, July 20th. BidaskClub lowered Navient Corporation from a “buy” rating to a “hold” rating in a report on Monday, July 24th. Jefferies Group LLC reissued a “hold” rating and issued a $16.00 target price on shares of Navient Corporation in a report on Monday, October 16th. Finally, Zacks Investment Research raised Navient Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, September 19th. One analyst has rated the stock with a sell rating, seven have given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $18.00.
Navient Corporation announced that its board has authorized a share repurchase program on Wednesday, October 4th that authorizes the company to buyback outstanding shares. This buyback authorization authorizes the credit services provider to reacquire shares of its stock through open market purchases. Shares buyback programs are typically a sign that the company’s management believes its shares are undervalued.
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In related news, CFO Christian M. Lown acquired 6,000 shares of the firm’s stock in a transaction on Friday, October 20th. The stock was bought at an average price of $12.35 per share, for a total transaction of $74,100.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP John M. Kane sold 28,886 shares of the company’s stock in a transaction on Tuesday, September 26th. The shares were sold at an average price of $15.00, for a total transaction of $433,290.00. The disclosure for this sale can be found here. Corporate insiders own 1.68% of the company’s stock.
Navient Corporation Company Profile
Navient Corporation provides asset management and business processing services to education, healthcare and government clients at the federal, state and local levels. The Company holds the portfolio of education loans insured or federally guaranteed under the Federal Family Education Loan Program (FFELP).
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