Navient (NAVI) Research Coverage Started at Oppenheimer
Oppenheimer began coverage on shares of Navient (NASDAQ:NAVI) in a research note released on Monday morning. The brokerage issued a hold rating on the credit services provider’s stock. Oppenheimer also issued estimates for Navient’s Q4 2017 earnings at $0.42 EPS, Q1 2018 earnings at $0.46 EPS, Q2 2018 earnings at $0.48 EPS, Q3 2018 earnings at $0.49 EPS, Q4 2018 earnings at $0.47 EPS, FY2018 earnings at $1.89 EPS and FY2019 earnings at $1.95 EPS.
Several other research firms have also recently issued reports on NAVI. Credit Suisse Group lowered their price objective on Navient from $16.50 to $16.00 and set an outperform rating on the stock in a research report on Wednesday, October 4th. Compass Point cut Navient from a buy rating to a neutral rating and lowered their price objective for the company from $16.50 to $15.50 in a research report on Thursday, October 5th. Zacks Investment Research raised Navient from a sell rating to a hold rating in a research report on Wednesday, September 13th. UBS Group began coverage on Navient in a research report on Monday. They issued a market perform rating on the stock. Finally, ValuEngine raised Navient from a hold rating to a buy rating in a research report on Friday, December 1st. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the stock. The company currently has an average rating of Hold and an average price target of $17.50.
Shares of Navient (NAVI) traded up $0.29 on Monday, hitting $13.97. The stock had a trading volume of 3,750,945 shares, compared to its average volume of 3,171,768. The company has a market cap of $3,620.00, a PE ratio of 7.68 and a beta of 2.33. Navient has a 12-month low of $11.48 and a 12-month high of $17.05. The company has a debt-to-equity ratio of 30.58, a quick ratio of 33.10 and a current ratio of 33.10.
Navient (NASDAQ:NAVI) last released its quarterly earnings data on Tuesday, October 17th. The credit services provider reported $0.55 earnings per share (EPS) for the quarter, beating the 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 had a return on equity of 14.09% and a net margin of 10.88%. The firm’s quarterly revenue was down 15.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.50 EPS. sell-side analysts forecast that Navient will post 1.76 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, December 15th. Shareholders of record on Friday, December 1st were paid a dividend of $0.16 per share. The ex-dividend date was Thursday, November 30th. This represents a $0.64 dividend on an annualized basis and a yield of 4.58%. Navient’s dividend payout ratio is presently 35.16%.
Navient announced that its Board of Directors has authorized a share repurchase plan on Wednesday, October 4th that authorizes the company to buyback shares. This buyback authorization authorizes the credit services provider to purchase shares of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its shares are undervalued.
In related news, CFO Christian M. Lown acquired 6,000 shares of Navient stock in a transaction dated Friday, October 20th. The stock was purchased at an average cost of $12.35 per share, for a total transaction of $74,100.00. The purchase was disclosed in a filing with the SEC, which is available through this link. 1.68% of the stock is currently owned by insiders.
Several large investors have recently bought and sold shares of the company. Prudential Financial Inc. increased its stake in shares of Navient by 3.4% in the 3rd quarter. Prudential Financial Inc. now owns 5,888,964 shares of the credit services provider’s stock worth $88,452,000 after purchasing an additional 192,614 shares in the last quarter. Public Employees Retirement System of Ohio increased its stake in shares of Navient by 8.1% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 132,231 shares of the credit services provider’s stock worth $1,986,000 after purchasing an additional 9,852 shares in the last quarter. GSA Capital Partners LLP purchased a new stake in shares of Navient in the 3rd quarter worth $1,003,000. Neuberger Berman Group LLC increased its stake in shares of Navient by 67.8% in the 3rd quarter. Neuberger Berman Group LLC now owns 17,078 shares of the credit services provider’s stock worth $257,000 after purchasing an additional 6,899 shares in the last quarter. Finally, Beacon Investment Advisory Services Inc. purchased a new stake in shares of Navient in the 3rd quarter worth $204,000. Hedge funds and other institutional investors own 92.67% of the company’s stock.
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Navient 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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