SLM (NASDAQ:SLM – Get Free Report) issued its earnings results on Wednesday. The credit services provider reported $1.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.79 by $0.32, Briefing.com reports. The company had revenue of $783.28 million for the quarter, compared to analyst estimates of $368.97 million. SLM had a net margin of 24.67% and a return on equity of 44.03%. During the same quarter last year, the firm earned $1.10 EPS. SLM updated its FY24 guidance to $2.70-2.80 EPS and its FY 2024 guidance to 2.700-2.800 EPS.
SLM Price Performance
SLM stock traded down $0.25 during trading on Friday, reaching $22.75. 297,370 shares of the company were exchanged, compared to its average volume of 1,933,603. The company has a market capitalization of $5.00 billion, a price-to-earnings ratio of 7.11, a P/E/G ratio of 0.47 and a beta of 1.17. The company has a debt-to-equity ratio of 2.67, a current ratio of 1.23 and a quick ratio of 1.23. The company has a 50-day moving average of $21.24 and a two-hundred day moving average of $20.76. SLM has a twelve month low of $12.26 and a twelve month high of $23.95.
SLM Announces Dividend
The business also recently declared 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 dividend on an annualized basis and a dividend yield of 1.93%. SLM’s payout ratio is currently 13.75%.
Wall Street Analyst Weigh In
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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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