Barclays Cuts Navient (NASDAQ:NAVI) Price Target to $7.00

Navient (NASDAQ:NAVI) had its target price reduced by Barclays from $8.00 to $7.00 in a research report released on Monday morning,Benzinga reports. They currently have an underweight rating on the credit services provider’s stock.

NAVI has been the topic of several other research reports. Weiss Ratings reissued a “sell (d)” rating on shares of Navient in a research report on Monday, September 21st. TD Cowen reaffirmed a “sell” rating on shares of Navient in a report on Friday, August 7th. Finally, JPMorgan Chase & Co. decreased their price target on Navient from $9.50 to $8.00 and set a “neutral” rating for the company in a research report on Monday, July 13th. Four analysts have rated the stock with a Hold rating and four have given a Sell rating to the company’s stock. According to MarketBeat, Navient has an average rating of “Reduce” and a consensus price target of $8.08.

Navient Stock Performance

NASDAQ NAVI opened at $9.04 on Monday. The company has a fifty day moving average price of $9.24 and a 200-day moving average price of $8.68. The firm has a market cap of $847.77 million, a price-to-earnings ratio of -18.08 and a beta of 1.15. The company has a debt-to-equity ratio of 16.73, a current ratio of 10.53 and a quick ratio of 10.53. Navient has a 1 year low of $7.33 and a 1 year high of $13.48.

Navient (NASDAQ:NAVI) last released its quarterly earnings results on Thursday, August 6th. The credit services provider reported $0.29 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.09. Navient had a negative net margin of 1.64% and a positive return on equity of 4.68%. The company had revenue of $150.00 million for the quarter, compared to analyst estimates of $142.87 million. During the same period last year, the firm earned $0.20 earnings per share. As a group, equities research analysts predict that Navient will post 0.78 EPS for the current fiscal year.

Navient Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 18th. Investors of record on Friday, September 4th were issued a $0.16 dividend. The ex-dividend date of this dividend was Friday, September 4th. This represents a $0.64 annualized dividend and a yield of 7.1%. Navient’s dividend payout ratio (DPR) is -128.00%.

Institutional Investors Weigh In On Navient

Several institutional investors have recently added to or reduced their stakes in NAVI. Parallel Advisors LLC increased its stake in shares of Navient by 325.6% in the first quarter. Parallel Advisors LLC now owns 5,005 shares of the credit services provider’s stock worth $41,000 after purchasing an additional 3,829 shares in the last quarter. Versant Capital Management Inc lifted its stake in shares of Navient by 552.6% during the 2nd quarter. Versant Capital Management Inc now owns 4,855 shares of the credit services provider’s stock valued at $41,000 after buying an additional 4,111 shares in the last quarter. Public Employees Retirement System of Ohio bought a new position in Navient in the 1st quarter worth approximately $72,000. Greenwood Gearhart LLC bought a new position in Navient in the 1st quarter worth approximately $84,000. Finally, United Capital Financial Advisors LLC purchased a new position in Navient in the 2nd quarter valued at approximately $87,000. 97.14% of the stock is owned by hedge funds and other institutional investors.

Navient Company Profile

Navient Corporation is a financial services company that provides education finance and loan management solutions. Its activities include servicing and managing private education loans and federally backed loans held in its portfolio, as well as providing related customer support, payment processing and account administration services.

The company was formed in 2014 through the separation of Sallie Mae’s education-lending and loan-servicing businesses. Navient formerly serviced a significant portion of the federal student loan portfolio, but it exited the U.S.