Navient Corporation (NAVI) Issues Q4 Earnings Guidance
Navient Corporation (NASDAQ:NAVI) updated its fourth quarter earnings guidance on Wednesday. The company provided EPS guidance of $0.40 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.43.
A number of research firms recently weighed in on NAVI. BidaskClub cut Navient Corporation from a hold rating to a sell rating in a report on Saturday, August 5th. Credit Suisse Group raised Navient Corporation from a neutral rating to an outperform rating and set a $16.50 price target for the company in a report on Friday, September 8th. Citigroup Inc. began coverage on Navient Corporation in a research note on Monday. They issued a buy rating and a $20.00 target price for the company. BMO Capital Markets reissued a hold rating and issued a $16.00 target price (down from $17.00) on shares of Navient Corporation in a research note on Thursday, July 20th. Finally, Compass Point raised Navient Corporation from a neutral rating to a buy rating and set a $16.50 target price for the company in a research note on Tuesday, September 5th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. Navient Corporation presently has a consensus rating of Hold and a consensus target price of $18.45.
Shares of Navient Corporation (NAVI) opened at 11.98 on Thursday. Navient Corporation has a 1-year low of $11.48 and a 1-year high of $17.95. The firm has a market capitalization of $3.28 billion, a PE ratio of 6.21 and a beta of 2.48. The stock has a 50 day moving average price of $13.63 and a 200 day moving average price of $14.64.
Navient Corporation (NASDAQ:NAVI) last announced its quarterly earnings data on Tuesday, October 17th. The credit services provider reported $0.55 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.50 by $0.05. The business had revenue of $343.00 million for the quarter, compared to analysts’ expectations of $361.33 million. Navient Corporation had a net margin of 10.88% and a return on equity of 13.99%. The business’s revenue was down 15.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.50 earnings per share. Equities research analysts anticipate that Navient Corporation will post $1.73 earnings per share for the current fiscal year.
Navient Corporation announced that its Board of Directors has authorized a share buyback program on Wednesday, October 4th that allows the company to repurchase outstanding shares. This repurchase authorization allows the credit services provider to buy shares of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its shares are undervalued.
In other Navient Corporation news, EVP John M. Kane sold 28,886 shares of the company’s stock in a transaction dated Tuesday, September 26th. The shares were sold at an average price of $15.00, for a total value of $433,290.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 1.68% of the stock is currently owned by corporate insiders.
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Navient Corporation Company Profile
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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