Navient Corp (NAVI) Expected to Announce Earnings of $0.51 Per Share
Wall Street brokerages predict that Navient Corp (NASDAQ:NAVI) will report earnings per share (EPS) of $0.51 for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for Navient’s earnings, with the lowest EPS estimate coming in at $0.49 and the highest estimate coming in at $0.52. Navient reported earnings per share of $0.55 during the same quarter last year, which indicates a negative year over year growth rate of 7.3%. The business is expected to issue its next earnings results on Tuesday, October 16th.
Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side analysts that that provide coverage for Navient.
Navient (NASDAQ:NAVI) last announced its earnings results on Tuesday, July 24th. The credit services provider reported $0.52 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.47 by $0.05. Navient had a net margin of 5.72% and a return on equity of 13.95%. The company had revenue of $330.00 million for the quarter, compared to analysts’ expectations of $314.00 million. During the same period last year, the firm earned $0.43 earnings per share. The business’s revenue for the quarter was down 3.8% on a year-over-year basis.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Wells Fargo & Company MN boosted its position in Navient by 5.9% in the first quarter. Wells Fargo & Company MN now owns 495,160 shares of the credit services provider’s stock valued at $6,497,000 after buying an additional 27,420 shares in the last quarter. Mackay Shields LLC acquired a new stake in Navient in the first quarter valued at approximately $581,000. Schwab Charles Investment Management Inc. boosted its position in Navient by 6.1% in the first quarter. Schwab Charles Investment Management Inc. now owns 2,201,386 shares of the credit services provider’s stock valued at $28,883,000 after buying an additional 125,624 shares in the last quarter. Aperio Group LLC boosted its position in Navient by 11.7% in the first quarter. Aperio Group LLC now owns 348,651 shares of the credit services provider’s stock valued at $4,574,000 after buying an additional 36,398 shares in the last quarter. Finally, Private Advisor Group LLC acquired a new stake in Navient in the first quarter valued at approximately $211,000. Institutional investors and hedge funds own 91.83% of the company’s stock.
NASDAQ NAVI opened at $14.36 on Thursday. The company has a current ratio of 21.92, a quick ratio of 21.92 and a debt-to-equity ratio of 26.35. The company has a market cap of $3.80 billion, a P/E ratio of 7.68 and a beta of 2.15. Navient has a 1 year low of $11.48 and a 1 year high of $15.61.
The company also recently declared a quarterly dividend, which was paid on Friday, September 21st. Investors of record on Friday, September 7th were given a dividend of $0.16 per share. The ex-dividend date of this dividend was Thursday, September 6th. This represents a $0.64 annualized dividend and a dividend yield of 4.46%. Navient’s dividend payout ratio is 35.75%.
Navient Corporation provides asset management and business processing services to education, health care, and government clients at the federal, state, and local levels in the United States. The company operates in three segments: Federal Family Education Loan Program (FFELP) Loans, Private Education Loans, and Business Services.
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