Navient Corporation (NAVI) Expected to Post Quarterly Sales of $339.50 Million
Brokerages predict that Navient Corporation (NASDAQ:NAVI) will announce $339.50 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for Navient Corporation’s earnings, with the lowest sales estimate coming in at $314.00 million and the highest estimate coming in at $365.00 million. Navient Corporation reported sales of $412.00 million during the same quarter last year, which indicates a negative year over year growth rate of 17.6%. The firm is expected to report its next earnings report after the market closes on Tuesday, October 17th.
On average, analysts expect that Navient Corporation will report full-year sales of $339.50 million for the current fiscal year, with estimates ranging from $1.37 billion to $1.39 billion. For the next year, analysts expect that the business will report sales of $1.28 billion per share, with estimates ranging from $1.26 billion to $1.31 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that cover Navient Corporation.
Navient Corporation (NASDAQ:NAVI) last announced its earnings results on Tuesday, July 18th. The credit services provider reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.02. The business had revenue of $343.00 million during the quarter, compared to the consensus estimate of $331.67 million. Navient Corporation had a net margin of 11.50% and a return on equity of 14.05%. The business’s quarterly revenue was down 15.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.47 earnings per share.
A number of research firms have recently commented on NAVI. Zacks Investment Research lowered shares of Navient Corporation from a “hold” rating to a “sell” rating in a research report on Monday, July 17th. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $20.00 price target on shares of Navient Corporation in a research report on Friday, July 14th. ValuEngine raised shares of Navient Corporation from a “buy” rating to a “strong-buy” rating in a research report on Friday, June 16th. BidaskClub raised shares of Navient Corporation from a “hold” rating to a “buy” rating in a research report on Saturday, June 17th. Finally, BMO Capital Markets reissued a “hold” rating and issued a $16.00 price target (down previously from $17.00) on shares of Navient Corporation in a research report on Thursday, July 20th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $18.30.
Navient Corporation (NAVI) opened at 12.60 on Friday. Navient Corporation has a 52 week low of $12.51 and a 52 week high of $17.95. The stock has a market capitalization of $3.45 billion, a P/E ratio of 6.53 and a beta of 2.48. The stock has a 50 day moving average of $14.00 and a 200 day moving average of $14.77.
Navient Corporation declared that its Board of Directors has initiated a share buyback program on Wednesday, October 4th that authorizes the company to buyback outstanding shares. This buyback authorization authorizes the credit services provider to buy shares of its stock through open market purchases. Shares buyback programs are typically a sign that the company’s management believes its stock is undervalued.
The business also recently announced a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Friday, September 1st were given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 5.08%. The ex-dividend date of this dividend was Wednesday, August 30th. Navient Corporation’s dividend payout ratio (DPR) is currently 33.68%.
In related news, EVP John M. Kane sold 28,886 shares of the business’s stock in a transaction on Tuesday, September 26th. The shares were sold at an average price of $15.00, for a total transaction of $433,290.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 1.68% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Thrivent Financial For Lutherans boosted its stake in Navient Corporation by 1.0% during the second quarter. Thrivent Financial For Lutherans now owns 10,770 shares of the credit services provider’s stock worth $179,000 after buying an additional 110 shares in the last quarter. Contravisory Investment Management Inc. boosted its stake in Navient Corporation by 1.3% during the second quarter. Contravisory Investment Management Inc. now owns 15,150 shares of the credit services provider’s stock worth $252,000 after buying an additional 200 shares in the last quarter. Advisor Group Inc. boosted its stake in Navient Corporation by 1.2% during the second quarter. Advisor Group Inc. now owns 37,355 shares of the credit services provider’s stock worth $621,000 after buying an additional 440 shares in the last quarter. Creative Planning boosted its stake in Navient Corporation by 7.2% during the second quarter. Creative Planning now owns 7,066 shares of the credit services provider’s stock worth $118,000 after buying an additional 472 shares in the last quarter. Finally, Bronfman E.L. Rothschild L.P. boosted its stake in Navient Corporation by 8.8% during the second quarter. Bronfman E.L. Rothschild L.P. now owns 7,564 shares of the credit services provider’s stock worth $126,000 after buying an additional 612 shares in the last quarter. Hedge funds and other institutional investors own 93.02% of the company’s stock.
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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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