Navient Corporation (NASDAQ:NAVI) updated its fourth quarter earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $0.40 for the period, compared to the Thomson Reuters consensus estimate of $0.43.
Several research firms have commented on NAVI. Jefferies Group LLC restated a hold rating and set a $16.00 price objective on shares of Navient Corporation in a report on Monday. Citigroup Inc. began coverage on Navient Corporation in a report on Monday. They set a buy rating and a $20.00 price objective on the stock. Zacks Investment Research downgraded Navient Corporation from a hold rating to a sell rating in a report on Thursday, October 12th. Compass Point downgraded Navient Corporation from a buy rating to a neutral rating and reduced their price objective for the stock from $16.50 to $15.50 in a report on Thursday, October 5th. Finally, Credit Suisse Group reduced their price objective on Navient Corporation from $16.50 to $16.00 and set an outperform rating on the stock in a report on Wednesday, October 4th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of Hold and an average price target of $18.45.
Shares of Navient Corporation (NASDAQ NAVI) traded down 1.31% during mid-day trading on Wednesday, reaching $12.04. The company’s stock had a trading volume of 3,013,850 shares. Navient Corporation has a one year low of $11.48 and a one year high of $17.95. The stock has a 50 day moving average of $13.78 and a 200-day moving average of $14.70. The stock has a market cap of $3.30 billion, a P/E ratio of 6.24 and a beta of 2.48.
Navient Corporation (NASDAQ:NAVI) last announced its quarterly earnings data on Tuesday, October 17th. The credit services provider reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.50 by $0.05. Navient Corporation had a net margin of 11.50% and a return on equity of 14.05%. The business had revenue of $343.00 million during the quarter, compared to the consensus estimate of $361.33 million. During the same quarter in the prior year, the firm earned $0.50 EPS. The company’s revenue for the quarter was down 15.3% compared to the same quarter last year. On average, equities research analysts expect that Navient Corporation will post $1.73 EPS for the current fiscal year.
Navient Corporation announced that its Board of Directors has authorized a share repurchase plan on Wednesday, October 4th that allows the company to buyback shares. This buyback authorization allows the credit services provider to buy shares of its stock through open market purchases. Shares buyback plans are often an indication that the company’s leadership believes its shares are undervalued.
In related news, EVP John M. Kane sold 28,886 shares of the business’s stock in a transaction dated Tuesday, September 26th. The shares were sold at an average price of $15.00, for a total transaction of $433,290.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.68% of the stock is owned by corporate insiders.
About Navient Corporation
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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