SLM (NASDAQ:SLM – Get Free Report) issued its quarterly earnings data on Wednesday. The credit services provider reported $1.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.79 by $0.32, Briefing.com reports. SLM had a net margin of 24.67% and a return on equity of 44.03%. The firm had revenue of $783.28 million during the quarter, compared to analysts’ expectations of $368.97 million. During the same period in the prior year, the company posted $1.10 earnings per share. SLM updated its FY24 guidance to $2.70-2.80 EPS and its FY 2024 guidance to 2.700-2.800 EPS.
SLM Trading Down 2.7 %
Shares of SLM stock opened at $23.00 on Friday. SLM has a 12-month low of $12.26 and a 12-month high of $23.95. The stock has a market capitalization of $5.05 billion, a P/E ratio of 7.19, a price-to-earnings-growth ratio of 0.47 and a beta of 1.17. The company has a 50-day simple moving average of $21.24 and a 200 day simple moving average of $20.76. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 2.67.
SLM Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Thursday, September 5th will be paid a $0.11 dividend. The ex-dividend date of this dividend is Thursday, September 5th. This represents a $0.44 annualized dividend and a dividend yield of 1.91%. SLM’s dividend payout ratio is presently 13.75%.
Wall Street Analysts Forecast Growth
Get Our Latest Stock Analysis on SLM
About SLM
SLM Corporation, through its subsidiaries, originates and services private education loans to students and their families to finance the cost of their education in the United States. It is also involved in the provision of retail deposit accounts, including certificates of deposit, money market accounts, and high-yield savings accounts; and interest-bearing omnibus accounts.
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