Equities research analysts forecast that Navient Corp (NASDAQ:NAVI) will report $346 million in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have issued estimates for Navient Corp’s earnings. The highest sales estimate is $365 million and the lowest is $324 million. Navient Corp posted sales of $429 million during the same quarter last year, which suggests a negative year-over-year growth rate of 19.3%. The firm is scheduled to announce its next earnings report on Tuesday, July 18th.
On average, analysts expect that Navient Corp will report full year sales of $346 million for the current fiscal year, with estimates ranging from $1.33 billion to $1.49 billion. For the next financial year, analysts forecast that the company will report sales of $1.29 billion per share, with estimates ranging from $1.26 billion to $1.31 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that follow Navient Corp.
Navient Corp (NASDAQ:NAVI) last announced its earnings results on Tuesday, April 18th. The credit services provider reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.42 by $0.06. Navient Corp had a net margin of 13.72% and a return on equity of 15.65%. The company had revenue of $334 million for the quarter, compared to the consensus estimate of $345.60 million. During the same quarter in the previous year, the firm earned $0.43 earnings per share. The company’s revenue for the quarter was down 19.7% compared to the same quarter last year.
A number of analysts recently issued reports on the company. JPMorgan Chase & Co. downgraded Navient Corp from an “overweight” rating to a “neutral” rating and set a $19.00 price target for the company. in a research report on Tuesday, January 17th. Zacks Investment Research downgraded Navient Corp from a “hold” rating to a “sell” rating in a research report on Wednesday, January 18th. Barclays PLC cut their price target on Navient Corp from $21.00 to $20.00 and set an “overweight” rating on the stock in a research note on Thursday, January 26th. Wedbush started coverage on Navient Corp in a research note on Monday, January 30th. They set a “neutral” rating and a $16.50 price target on the stock. Finally, Credit Suisse Group AG restated a “hold” rating and set a $18.00 price target on shares of Navient Corp in a research note on Thursday, February 9th. Six equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $17.75.
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In other news, Director Gilleland Diane Suitt sold 5,467 shares of the company’s stock in a transaction on Monday, April 24th. The stock was sold at an average price of $15.89, for a total value of $86,870.63. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 1.05% of the company’s stock.
A number of large investors have recently bought and sold shares of NAVI. Coconut Grove Bank increased its position in Navient Corp by 107.1% in the first quarter. Coconut Grove Bank now owns 6,960 shares of the credit services provider’s stock worth $103,000 after buying an additional 3,600 shares during the last quarter. Bronfman E.L. Rothschild L.P. increased its position in Navient Corp by 1.7% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 6,952 shares of the credit services provider’s stock worth $103,000 after buying an additional 118 shares in the last quarter. Ameritas Investment Partners Inc. purchased a new position in Navient Corp during the first quarter worth about $112,000. WFG Advisors LP purchased a new position in Navient Corp during the fourth quarter worth about $132,000. Finally, Moore Capital Management LP purchased a new position in Navient Corp during the third quarter worth about $150,000. 93.89% of the stock is currently owned by institutional investors.
Shares of Navient Corp (NASDAQ:NAVI) traded down 1.92% during midday trading on Wednesday, reaching $14.32. 865,884 shares of the company’s stock traded hands. The stock’s 50-day moving average price is $14.91 and its 200 day moving average price is $15.52. Navient Corp has a one year low of $11.01 and a one year high of $17.95. The firm has a market capitalization of $4.08 billion, a PE ratio of 7.53 and a beta of 2.57.
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 16th. Stockholders of record on Friday, June 2nd will be paid a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 4.38%. The ex-dividend date is Wednesday, May 31st. Navient Corp’s dividend payout ratio (DPR) is presently 30.19%.
Navient Corp 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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