Wedbush Analysts Raise Earnings Estimates for Navient Corp (NAVI)

Navient Corp (NASDAQ:NAVI) – Equities researchers at Wedbush lifted their FY2018 earnings per share estimates for shares of Navient in a research report issued on Wednesday. Wedbush analyst H. Coffey now expects that the credit services provider will post earnings per share of $1.93 for the year, up from their previous estimate of $1.60. Wedbush also issued estimates for Navient’s FY2019 earnings at $2.05 EPS.

Navient (NASDAQ:NAVI) last announced its earnings results on Tuesday, October 17th. The credit services provider reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.05. The firm had revenue of $343.00 million for the quarter, compared to the consensus estimate of $361.33 million. Navient had a return on equity of 14.09% and a net margin of 10.88%. The firm’s revenue for the quarter was down 15.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.50 EPS.

Several other analysts also recently weighed in on the company. Credit Suisse Group cut their target price on Navient from $16.50 to $16.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 4th. Zacks Investment Research raised Navient from a “strong sell” rating to a “hold” rating in a research note on Monday, October 23rd. Compass Point downgraded Navient from a “buy” rating to a “neutral” rating and cut their target price for the company from $16.50 to $15.50 in a research note on Thursday, October 5th. Barclays reaffirmed an “overweight” rating and set a $17.00 target price on shares of Navient in a research note on Tuesday, November 14th. Finally, BMO Capital Markets cut their target price on Navient from $16.00 to $14.00 and set a “market perform” rating on the stock in a research note on Thursday, October 19th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $17.36.

Shares of Navient (NASDAQ:NAVI) traded up $0.29 during trading on Friday, reaching $13.97. The company’s stock had a trading volume of 3,750,900 shares, compared to its average volume of 3,171,775. The company has a quick ratio of 33.10, a current ratio of 33.10 and a debt-to-equity ratio of 30.58. The company has a market cap of $3,670.00, a P/E ratio of 7.68 and a beta of 2.33. Navient has a 52-week low of $11.48 and a 52-week high of $17.05.

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 15th. Stockholders of record on Friday, December 1st were paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 4.58%. The ex-dividend date was Thursday, November 30th. Navient’s dividend payout ratio is presently 35.16%.

Navient announced that its Board of Directors has initiated a share repurchase program on Wednesday, October 4th that authorizes the company to buyback outstanding shares. This buyback authorization authorizes the credit services provider to repurchase shares of its stock through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

In other news, CFO Christian M. Lown acquired 6,000 shares of the company’s stock in a transaction dated Friday, October 20th. The shares were bought at an average price of $12.35 per share, with a total value of $74,100.00. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. 1.68% of the stock is currently owned by insiders.

Several institutional investors and hedge funds have recently bought and sold shares of NAVI. AJO LP raised its stake in shares of Navient by 7,682.8% in the 2nd quarter. AJO LP now owns 1,250,081 shares of the credit services provider’s stock worth $20,814,000 after buying an additional 1,234,019 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of Navient by 75.9% during the second quarter. JPMorgan Chase & Co. now owns 2,443,684 shares of the credit services provider’s stock worth $40,687,000 after purchasing an additional 1,054,580 shares during the period. W. E. Donoghue & Co. LLC acquired a new stake in shares of Navient during the second quarter worth $17,303,000. Parametric Portfolio Associates LLC raised its position in shares of Navient by 56.4% during the second quarter. Parametric Portfolio Associates LLC now owns 2,304,386 shares of the credit services provider’s stock worth $38,368,000 after purchasing an additional 831,209 shares during the period. Finally, Schwab Charles Investment Management Inc. raised its position in shares of Navient by 27.5% during the third quarter. Schwab Charles Investment Management Inc. now owns 2,022,265 shares of the credit services provider’s stock worth $30,375,000 after purchasing an additional 436,644 shares during the period. 92.67% of the stock is currently owned by institutional investors.

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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).

Earnings History and Estimates for Navient (NASDAQ:NAVI)

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