Wedbush Brokers Lift Earnings Estimates for Navient Corp (NAVI)

Navient Corp (NASDAQ:NAVI) – Wedbush boosted their FY2018 earnings per share (EPS) estimates for Navient in a report released on Wednesday, November 28th. Wedbush analyst H. Coffey now forecasts that the credit services provider will earn $1.97 per share for the year, up from their previous forecast of $1.95. Wedbush also issued estimates for Navient’s Q4 2018 earnings at $0.46 EPS and Q1 2019 earnings at $0.36 EPS.

NAVI has been the topic of a number of other research reports. Zacks Investment Research lowered shares of Navient from a “hold” rating to a “sell” rating in a research note on Tuesday, September 25th. ValuEngine lowered shares of Navient from a “hold” rating to a “sell” rating in a research note on Saturday, October 27th. Citigroup cut their target price on shares of Navient from $20.00 to $18.00 and set a “buy” rating on the stock in a research note on Thursday, October 25th. BidaskClub raised shares of Navient from a “strong sell” rating to a “sell” rating in a research note on Thursday, November 8th. Finally, Oppenheimer reaffirmed a “hold” rating on shares of Navient in a research note on Thursday, October 25th. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $15.55.

Shares of NAVI opened at $11.38 on Monday. The stock has a market cap of $2.97 billion, a PE ratio of 6.36 and a beta of 2.11. The company has a debt-to-equity ratio of 25.59, a quick ratio of 19.74 and a current ratio of 19.74. Navient has a 1-year low of $10.69 and a 1-year high of $15.02.

Navient (NASDAQ:NAVI) last announced its quarterly earnings results on Tuesday, October 23rd. The credit services provider reported $0.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.49 by $0.04. The business had revenue of $327.00 million for the quarter, compared to analyst estimates of $310.17 million. Navient had a net margin of 4.29% and a return on equity of 13.43%. The company’s revenue was down 5.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.55 EPS.

Institutional investors and hedge funds have recently made changes to their positions in the company. D.A. Davidson & CO. lifted its position in Navient by 10.9% during the 2nd quarter. D.A. Davidson & CO. now owns 42,220 shares of the credit services provider’s stock valued at $550,000 after acquiring an additional 4,155 shares during the period. People s United Financial Inc. lifted its position in Navient by 4.9% during the 3rd quarter. People s United Financial Inc. now owns 100,003 shares of the credit services provider’s stock valued at $1,348,000 after acquiring an additional 4,671 shares during the period. Advisors Asset Management Inc. lifted its position in Navient by 20.7% during the 2nd quarter. Advisors Asset Management Inc. now owns 30,473 shares of the credit services provider’s stock valued at $397,000 after acquiring an additional 5,233 shares during the period. Aperio Group LLC lifted its position in Navient by 1.5% during the 2nd quarter. Aperio Group LLC now owns 353,942 shares of the credit services provider’s stock valued at $4,612,000 after acquiring an additional 5,291 shares during the period. Finally, Oakbrook Investments LLC lifted its position in Navient by 24.8% during the 3rd quarter. Oakbrook Investments LLC now owns 31,435 shares of the credit services provider’s stock valued at $424,000 after acquiring an additional 6,240 shares during the period. 93.54% of the stock is currently owned by hedge funds and other institutional investors.

The business also recently announced a quarterly dividend, which will be paid on Friday, December 21st. Stockholders of record on Friday, December 7th will be paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 5.62%. The ex-dividend date of this dividend is Thursday, December 6th. Navient’s payout ratio is 35.75%.

Navient Company Profile

Navient Corporation provides asset management and business processing services to education, health care, and government clients at the federal, state, and local levels in the United States. The company operates in three segments: Federal Family Education Loan Program (FFELP) Loans, Private Education Loans, and Business Services.

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Earnings History and Estimates for Navient (NASDAQ:NAVI)

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