Navient Corp (NASDAQ:NAVI) – Analysts at Jefferies Group raised their Q1 2018 earnings estimates for Navient in a report released on Wednesday. Jefferies Group analyst J. Hecht now anticipates that the credit services provider will earn $0.52 per share for the quarter, up from their prior forecast of $0.37. Jefferies Group currently has a “Hold” rating and a $14.00 target price on the stock. Jefferies Group also issued estimates for Navient’s Q2 2018 earnings at $0.42 EPS, Q3 2018 earnings at $0.48 EPS, Q4 2018 earnings at $0.48 EPS and FY2018 earnings at $1.89 EPS.
Several other equities analysts have also recently issued reports on NAVI. Zacks Investment Research upgraded Navient from a “sell” rating to a “buy” rating and set a $16.00 price objective on the stock in a research note on Friday. UBS Group assumed coverage on Navient in a research note on Monday, January 8th. They set a “market perform” rating on the stock. Oppenheimer assumed coverage on Navient in a research note on Monday, January 8th. They set a “hold” rating on the stock. JPMorgan Chase & Co. cut Navient from a “neutral” rating to an “underweight” rating in a research note on Friday. Finally, ValuEngine upgraded Navient from a “hold” rating to a “buy” rating in a research note on Friday, December 1st. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $17.36.
Navient (NASDAQ:NAVI) last announced its quarterly earnings data on Tuesday, October 17th. The credit services provider reported $0.55 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.50 by $0.05. Navient had a return on equity of 14.09% and a net margin of 10.88%. The firm had revenue of $343.00 million for the quarter, compared to analysts’ expectations of $361.33 million. During the same period last year, the business posted $0.50 earnings per share. The firm’s revenue for the quarter was down 15.3% on a year-over-year basis.
Hedge funds have recently bought and sold shares of the business. Quantbot Technologies LP acquired a new position in shares of Navient during the third quarter valued at $121,000. Advisors Asset Management Inc. increased its holdings in shares of Navient by 84.0% during the third quarter. Advisors Asset Management Inc. now owns 10,168 shares of the credit services provider’s stock valued at $153,000 after purchasing an additional 4,642 shares during the period. First Midwest Bank Trust Division acquired a new position in shares of Navient during the third quarter valued at $175,000. Thrivent Financial For Lutherans increased its holdings in shares of Navient by 1.0% during the second quarter. Thrivent Financial For Lutherans now owns 10,770 shares of the credit services provider’s stock valued at $179,000 after purchasing an additional 110 shares during the period. Finally, TLP Group LLC increased its holdings in shares of Navient by 3,174.3% during the second quarter. TLP Group LLC now owns 11,100 shares of the credit services provider’s stock valued at $185,000 after purchasing an additional 10,761 shares during the period. Institutional investors own 92.67% of the company’s stock.
In related news, CFO Christian M. Lown bought 6,000 shares of the business’s stock in a transaction on Friday, October 20th. The shares were bought at an average cost of $12.35 per share, for a total transaction of $74,100.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.68% of the company’s stock.
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 $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 4.61%. The ex-dividend date was Thursday, November 30th. Navient’s payout ratio is 35.36%.
Navient declared that its Board of Directors has approved a share repurchase plan on Wednesday, October 4th that allows the company to buyback outstanding shares. This buyback authorization allows the credit services provider to purchase shares of its stock through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its shares are undervalued.
COPYRIGHT VIOLATION WARNING: “Navient Corp Forecasted to Earn Q1 2018 Earnings of $0.52 Per Share (NAVI)” was originally reported by Markets Daily and is the sole property of of Markets Daily. If you are accessing this piece on another publication, it was copied illegally and republished in violation of U.S. & international trademark & copyright legislation. The original version of this piece can be read at https://www.themarketsdaily.com/2018/01/14/navient-corp-forecasted-to-earn-q1-2018-earnings-of-0-52-per-share-navi.html.
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).
Receive News & Ratings for Navient Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Navient and related companies with MarketBeat.com's FREE daily email newsletter.