Navient Co. (NAVI) To Go Ex-Dividend on December 2nd

Navient Co. (NASDAQ:NAVI) announced a quarterly dividend on Monday, November 22nd, Zacks reports. Shareholders of record on Friday, December 3rd will be paid a dividend of 0.16 per share by the credit services provider on Friday, December 17th. This represents a $0.64 annualized dividend and a yield of 3.13%. The ex-dividend date of this dividend is Thursday, December 2nd.

Navient has a payout ratio of 20.6% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Navient to earn $3.09 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 20.7%.

NASDAQ:NAVI traded down $0.01 during trading hours on Wednesday, hitting $20.48. The company had a trading volume of 9,253 shares, compared to its average volume of 1,929,027. The company has a current ratio of 27.93, a quick ratio of 27.93 and a debt-to-equity ratio of 27.66. The company has a 50-day moving average of $20.38 and a 200 day moving average of $20.19. The company has a market cap of $3.30 billion, a P/E ratio of 4.03 and a beta of 1.77. Navient has a 1 year low of $9.07 and a 1 year high of $23.80.

Navient (NASDAQ:NAVI) last released its quarterly earnings results on Tuesday, October 26th. The credit services provider reported $0.89 earnings per share for the quarter, topping analysts’ consensus estimates of $0.82 by $0.07. The business had revenue of $299.00 million during the quarter, compared to analysts’ expectations of $269.99 million. Navient had a return on equity of 29.54% and a net margin of 25.74%. The company’s revenue was down 6.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.99 EPS. On average, analysts forecast that Navient will post 4.49 earnings per share for the current year.

A hedge fund recently raised its stake in Navient stock. Morgan Stanley boosted its position in shares of Navient Co. (NASDAQ:NAVI) by 224.3% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,119,626 shares of the credit services provider’s stock after acquiring an additional 774,347 shares during the period. Morgan Stanley owned about 0.67% of Navient worth $21,642,000 as of its most recent SEC filing. 91.76% of the stock is owned by hedge funds and other institutional investors.

A number of equities analysts have recently weighed in on NAVI shares. Seaport Global Securities started coverage on Navient in a report on Thursday, September 30th. They set a “neutral” rating for the company. Seaport Res Ptn reiterated a “neutral” rating on shares of Navient in a report on Thursday, September 30th. Citigroup cut Navient from a “buy” rating to a “neutral” rating and raised their target price for the company from $19.00 to $21.00 in a report on Thursday, July 29th. Stephens boosted their price target on shares of Navient from $18.00 to $22.00 and gave the stock an “overweight” rating in a research note on Thursday, July 29th. Finally, Wedbush reissued an “outperform” rating on shares of Navient in a research note on Tuesday, November 2nd. Seven analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $20.83.

About Navient

Navient Corp. engages in the provision of asset management and business processing solutions for education, healthcare and government clients at the federal, state and local levels. It operates through the following segments: Federal Education Loans, Consumer Lending, Business Processing and Other. The Federal Education Loans segment owns FFELP Loans and performs servicing and asset recovery services on FFELP Loan portfolio.

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Dividend History for Navient (NASDAQ:NAVI)

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