$340.67 Million in Sales Expected for Navient Corporation (NAVI) This Quarter
Equities research analysts predict that Navient Corporation (NASDAQ:NAVI) will report $340.67 million in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have made estimates for Navient Corporation’s earnings. The highest sales estimate is $365.00 million and the lowest is $314.00 million. Navient Corporation posted sales of $412.00 million during the same quarter last year, which suggests a negative year-over-year growth rate of 17.3%. The firm is expected to announce its next earnings report on Tuesday, October 17th.
On average, analysts expect that Navient Corporation will report full year sales of $340.67 million for the current fiscal year, with estimates ranging from $1.35 billion to $1.39 billion. For the next year, analysts forecast that the business will report sales of $1.27 billion per share, with estimates ranging from $1.23 billion to $1.31 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Navient Corporation.
Navient Corporation (NASDAQ:NAVI) last posted its quarterly earnings data on Tuesday, July 18th. The credit services provider reported $0.43 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.41 by $0.02. The business had revenue of $343 million during the quarter, compared to the consensus estimate of $331.67 million. Navient Corporation had a return on equity of 14.05% and a net margin of 11.50%. Navient Corporation’s quarterly revenue was down 15.9% on a year-over-year basis. During the same period last year, the company earned $0.47 earnings per share.
NAVI has been the subject of several analyst reports. Stifel Nicolaus raised their price target on shares of Navient Corporation from $24.00 to $26.00 and gave the company a “hold” rating in a research report on Monday, June 12th. BidaskClub raised shares of Navient Corporation from a “sell” rating to a “hold” rating in a research report on Saturday, June 10th. ValuEngine raised shares of Navient Corporation from a “buy” rating to a “strong-buy” rating in a research report on Friday, June 16th. Zacks Investment Research downgraded shares of Navient Corporation from a “hold” rating to a “sell” rating in a research report on Monday, July 17th. Finally, Jefferies Group LLC reissued a “buy” rating on shares of Navient Corporation in a research report on Monday, June 12th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $18.55.
A number of large investors have recently bought and sold shares of the company. Macquarie Group Ltd. increased its stake in Navient Corporation by 141.9% in the fourth quarter. Macquarie Group Ltd. now owns 25,400 shares of the credit services provider’s stock worth $417,000 after buying an additional 14,900 shares during the period. ProShare Advisors LLC increased its stake in Navient Corporation by 41.3% in the first quarter. ProShare Advisors LLC now owns 185,528 shares of the credit services provider’s stock worth $2,738,000 after buying an additional 54,212 shares during the period. Canada Pension Plan Investment Board increased its stake in Navient Corporation by 107.0% in the first quarter. Canada Pension Plan Investment Board now owns 59,000 shares of the credit services provider’s stock worth $871,000 after buying an additional 30,500 shares during the period. Advisory Services Network LLC bought a new stake in Navient Corporation during the first quarter worth approximately $234,000. Finally, Tyers Asset Management LLC increased its stake in Navient Corporation by 67.5% in the first quarter. Tyers Asset Management LLC now owns 98,784 shares of the credit services provider’s stock worth $1,458,000 after buying an additional 39,816 shares during the period. 92.65% of the stock is owned by institutional investors and hedge funds.
Navient Corporation (NASDAQ:NAVI) opened at 13.28 on Thursday. The company’s 50 day moving average price is $14.74 and its 200-day moving average price is $14.98. Navient Corporation has a 12-month low of $12.66 and a 12-month high of $17.95. The company has a market capitalization of $3.64 billion, a P/E ratio of 6.88 and a beta of 2.43.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, September 1st will be given a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 4.82%. The ex-dividend date is Wednesday, August 30th. Navient Corporation’s dividend payout ratio (DPR) is presently 33.68%.
About Navient Corporation
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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