Navient Corporation (NASDAQ:NAVI) Shares Will Pay Quarterly Dividend of $0.16

Navient Corporation (NASDAQ:NAVI) declared a quarterly dividend on Wednesday, November 11th. Investors of record on Friday, December 4th will be paid a dividend of $0.16 per share by the credit services provider on Friday, December 18th. This represents a $0.64 dividend on an annualized basis and a yield of 10.8%. The ex-dividend date is Friday, December 4th.

Navient has a payout ratio of 47.8% meaning its dividend is sufficiently covered by earnings. Analysts expect Navient to earn $0.97 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 66.0%.

Navient Stock Performance

NAVI stock opened at $5.92 on Thursday. The company has a current ratio of 7.50, a quick ratio of 10.53 and a debt-to-equity ratio of 15.37. The stock has a market capitalization of $555.18 million, a PE ratio of 11.17 and a beta of 1.17. The stock’s 50 day simple moving average is $9.02 and its 200 day simple moving average is $8.79. Navient has a 12-month low of $5.91 and a 12-month high of $13.48.

Navient (NASDAQ:NAVI) last released its quarterly earnings results on Wednesday, November 4th. The credit services provider reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.10). Navient had a return on equity of 3.65% and a net margin of 1.79%. The firm had revenue of $308.00 million during the quarter, compared to analysts’ expectations of $144.92 million. During the same quarter last year, the business earned ($0.84) earnings per share. As a group, research analysts forecast that Navient will post 0.69 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on NAVI shares. Weiss Ratings restated a “sell (d)” rating on shares of Navient in a research note on Monday, September 21st. TD Cowen lowered their target price on shares of Navient from $8.50 to $8.00 and set a “sell” rating for the company in a report on Thursday, November 5th. Barclays lowered their price objective on shares of Navient from $7.00 to $6.00 and set an “underweight” rating for the company in a research report on Thursday, November 5th. JPMorgan Chase & Co. lifted their price objective on shares of Navient from $8.50 to $9.00 and gave the company a “neutral” rating in a report on Thursday, November 5th. Finally, Zacks Research downgraded Navient from a “strong-buy” rating to a “hold” rating in a research report on Tuesday. Four equities research analysts have rated the stock with a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat, Navient currently has an average rating of “Reduce” and an average price target of $8.00.

About Navient

Navient is a U.S.-focused education finance company whose business has centered on managing student loan portfolios and providing loan servicing. Its services have included payment processing, borrower account support and repayment assistance for federal and private education loans, as well as asset-recovery and business-processing services. The company was formed in 2014 through the separation of SLM Corporation, commonly known as Sallie Mae. Navient later transferred federal student loan servicing operations to other providers, including a transfer to Maximus in 2021 and an agreement to move its remaining federal servicing accounts to MOHELA in 2024.