Navient Corporation (NASDAQ:NAVI) Stock Has Average Price Target of $8.08 According to Brokerages

Navient Corporation (NASDAQ:NAVI) has received a consensus rating of “Reduce” from the eight research firms that are currently covering the company, Marketbeat Ratings reports. Four analysts have rated the stock with a sell rating and four have issued a hold rating on the company. The average 1-year target price among brokers that have covered the stock in the last year is $8.08.

Several research firms have weighed in on NAVI. JPMorgan Chase & Co. dropped their price objective on Navient from $9.50 to $8.00 and set a “neutral” rating for the company in a report on Monday, July 13th. TD Cowen reissued a “sell” rating on shares of Navient in a research note on Friday, August 7th. Weiss Ratings restated a “sell (d)” rating on shares of Navient in a report on Monday, September 21st. Finally, Barclays dropped their price target on Navient from $8.00 to $7.00 and set an “underweight” rating for the company in a research note on Monday.

Navient Price Performance

Shares of Navient stock opened at $9.27 on Tuesday. The firm has a market cap of $869.38 million, a PE ratio of -18.54 and a beta of 1.15. Navient has a 12-month low of $7.33 and a 12-month high of $13.48. The company has a quick ratio of 10.53, a current ratio of 10.53 and a debt-to-equity ratio of 16.73. The company’s fifty day simple moving average is $9.26 and its two-hundred day simple moving average is $8.69.

Navient (NASDAQ:NAVI) last released its quarterly earnings data on Thursday, August 6th. The credit services provider reported $0.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.20 by $0.09. The firm had revenue of $150.00 million for the quarter, compared to analysts’ expectations of $142.87 million. Navient had a negative net margin of 1.64% and a positive return on equity of 4.68%. During the same quarter in the previous year, the company earned $0.20 earnings per share. As a group, equities analysts expect that Navient will post 0.8 EPS for the current year.

Navient Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 18th. Shareholders of record on Friday, September 4th were issued a $0.16 dividend. The ex-dividend date was Friday, September 4th. This represents a $0.64 annualized dividend and a yield of 6.9%. Navient’s dividend payout ratio is -128.00%.

Institutional Investors Weigh In On Navient

A number of large investors have recently modified their holdings of NAVI. Principal Financial Group Inc. grew its position in shares of Navient by 0.4% during the first quarter. Principal Financial Group Inc. now owns 322,085 shares of the credit services provider’s stock valued at $2,635,000 after purchasing an additional 1,354 shares in the last quarter. Illinois Municipal Retirement Fund boosted its stake in Navient by 4.4% during the first quarter. Illinois Municipal Retirement Fund now owns 38,948 shares of the credit services provider’s stock valued at $319,000 after buying an additional 1,654 shares during the last quarter. GAMMA Investing LLC boosted its stake in Navient by 10.5% during the second quarter. GAMMA Investing LLC now owns 30,707 shares of the credit services provider’s stock valued at $261,000 after buying an additional 2,920 shares during the last quarter. iSAM Funds UK Ltd grew its holdings in Navient by 32.8% during the 2nd quarter. iSAM Funds UK Ltd now owns 13,400 shares of the credit services provider’s stock valued at $114,000 after buying an additional 3,309 shares in the last quarter. Finally, Parallel Advisors LLC increased its stake in Navient by 325.6% in the 1st quarter. Parallel Advisors LLC now owns 5,005 shares of the credit services provider’s stock worth $41,000 after acquiring an additional 3,829 shares during the last quarter. Institutional investors own 97.14% of the company’s stock.

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.