SLM Corp Expected to Earn Q1 2018 Earnings of $0.26 Per Share (SLM)
SLM Corp (NASDAQ:SLM) – Jefferies Group upped their Q1 2018 EPS estimates for SLM in a research note issued on Wednesday. Jefferies Group analyst J. Hecht now forecasts that the credit services provider will post earnings per share of $0.26 for the quarter, up from their previous estimate of $0.22. Jefferies Group currently has a “Buy” rating and a $16.00 price target on the stock. Jefferies Group also issued estimates for SLM’s Q3 2018 earnings at $0.24 EPS.
A number of other analysts also recently weighed in on the stock. Zacks Investment Research downgraded shares of SLM from a “hold” rating to a “sell” rating in a report on Tuesday, December 12th. BidaskClub downgraded shares of SLM from a “sell” rating to a “strong sell” rating in a report on Friday, October 13th. BMO Capital Markets reiterated a “hold” rating and set a $12.00 price objective on shares of SLM in a research report on Friday, October 6th. Citigroup started coverage on shares of SLM in a research report on Monday, October 16th. They set a “buy” rating and a $16.00 price objective for the company. Finally, Keefe, Bruyette & Woods reiterated a “buy” rating and set a $16.00 price objective on shares of SLM in a research report on Friday, December 22nd. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and eight have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $14.44.
SLM (NASDAQ:SLM) last issued its quarterly earnings results on Wednesday, October 18th. The credit services provider reported $0.17 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.17. SLM had a net margin of 22.95% and a return on equity of 16.63%. The company had revenue of $282.06 million during the quarter, compared to the consensus estimate of $282.02 million. During the same quarter in the prior year, the firm posted $0.12 EPS. The firm’s quarterly revenue was up 26.3% on a year-over-year basis.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Steward Partners Investment Advisory LLC acquired a new position in SLM in the 3rd quarter valued at approximately $115,000. Crossmark Global Holdings Inc. acquired a new position in SLM in the 3rd quarter valued at approximately $666,000. Canada Pension Plan Investment Board acquired a new position in SLM in the 3rd quarter valued at approximately $1,248,000. SG Americas Securities LLC increased its position in SLM by 26.0% in the 3rd quarter. SG Americas Securities LLC now owns 170,874 shares of the credit services provider’s stock valued at $1,960,000 after acquiring an additional 35,305 shares during the period. Finally, Aperio Group LLC increased its position in SLM by 3.9% in the 3rd quarter. Aperio Group LLC now owns 188,045 shares of the credit services provider’s stock valued at $2,157,000 after acquiring an additional 7,129 shares during the period. Hedge funds and other institutional investors own 99.24% of the company’s stock.
In other SLM news, CEO Raymond J. Quinlan sold 200,000 shares of the company’s stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $11.52, for a total value of $2,304,000.00. Following the completion of the transaction, the chief executive officer now directly owns 1,080,133 shares in the company, valued at approximately $12,443,132.16. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Jonathan Boyles sold 2,776 shares of the company’s stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $11.65, for a total transaction of $32,340.40. Following the completion of the transaction, the senior vice president now owns 173,728 shares of the company’s stock, valued at $2,023,931.20. The disclosure for this sale can be found here. 0.59% of the stock is owned by corporate insiders.
SLM Company Profile
SLM Corporation (Sallie Mae) is the nation’s saving, planning, and paying for college company. Sallie Mae offers products, which promote personal finance including private education loans, Upromise rewards, scholarship search, college financial planning tools, insurance, and online retail banking.
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