SLM Corporation (NASDAQ:SLM) Expected to Post Quarterly Sales of $283.51 Million

Analysts forecast that SLM Corporation (NASDAQ:SLM) will report $283.51 million in sales for the current quarter, according to Zacks Investment Research. Four analysts have issued estimates for SLM Corporation’s earnings. The highest sales estimate is $299.72 million and the lowest is $270.30 million. SLM Corporation reported sales of $223.28 million during the same quarter last year, which indicates a positive year over year growth rate of 27%. The company is expected to issue its next quarterly earnings results on Wednesday, October 18th.

According to Zacks, analysts expect that SLM Corporation will report full-year sales of $283.51 million for the current fiscal year, with estimates ranging from $1.09 billion to $1.16 billion. For the next year, analysts expect that the business will report sales of $1.31 billion per share, with estimates ranging from $1.24 billion to $1.39 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that follow SLM Corporation.

SLM Corporation (NASDAQ:SLM) last released its quarterly earnings results on Wednesday, July 19th. The credit services provider reported $0.16 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.16. The company had revenue of $269.89 million for the quarter, compared to analysts’ expectations of $268.69 million. SLM Corporation had a net margin of 22.81% and a return on equity of 16.31%. The firm’s revenue for the quarter was up 26.8% compared to the same quarter last year. During the same period last year, the company earned $0.12 EPS.

Several equities analysts have weighed in on SLM shares. Zacks Investment Research cut SLM Corporation from a “buy” rating to a “hold” rating in a research note on Monday, July 10th. Off Wall Street reaffirmed a “sell” rating and set a $8.50 target price on shares of SLM Corporation in a research note on Friday, May 5th. TheStreet raised SLM Corporation from a “c+” rating to a “b-” rating in a research note on Monday, May 1st. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $15.00 price target on shares of SLM Corporation in a research note on Friday, April 21st. Finally, ValuEngine raised SLM Corporation from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating, six have issued a buy rating and two have given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $12.50.

SLM Corporation (NASDAQ:SLM) opened at 10.99 on Wednesday. SLM Corporation has a one year low of $6.93 and a one year high of $13.20. The stock’s 50 day moving average is $11.20 and its 200 day moving average is $11.57. The stock has a market capitalization of $4.74 billion, a price-to-earnings ratio of 17.73 and a beta of 1.19.

Several large investors have recently made changes to their positions in the stock. Chicago Equity Partners LLC purchased a new stake in shares of SLM Corporation during the first quarter valued at approximately $977,000. Eqis Capital Management Inc. raised its stake in SLM Corporation by 1.9% in the first quarter. Eqis Capital Management Inc. now owns 41,831 shares of the credit services provider’s stock valued at $506,000 after buying an additional 777 shares during the period. Tyers Asset Management LLC raised its stake in SLM Corporation by 49.0% in the first quarter. Tyers Asset Management LLC now owns 138,404 shares of the credit services provider’s stock valued at $1,675,000 after buying an additional 45,528 shares during the period. State Treasurer State of Michigan raised its stake in SLM Corporation by 1.1% in the first quarter. State Treasurer State of Michigan now owns 174,325 shares of the credit services provider’s stock valued at $2,109,000 after buying an additional 1,900 shares during the period. Finally, Commerzbank Aktiengesellschaft FI bought a new stake in SLM Corporation during the first quarter valued at $163,000. 99.12% of the stock is owned by institutional investors and hedge funds.

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SLM Corporation 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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