Zacks: Analysts Anticipate Navient Corp (NASDAQ:NAVI) Will Post Earnings of $0.57 Per Share

Wall Street analysts expect Navient Corp (NASDAQ:NAVI) to post $0.57 earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Three analysts have issued estimates for Navient’s earnings, with estimates ranging from $0.56 to $0.58. Navient reported earnings per share of $0.53 in the same quarter last year, which indicates a positive year over year growth rate of 7.5%. The company is scheduled to report its next earnings results after the market closes on Tuesday, October 22nd.

Zacks’ earnings per share calculations are an average based on a survey of analysts that follow Navient.

Navient (NASDAQ:NAVI) last released its quarterly earnings data on Tuesday, July 23rd. The credit services provider reported $0.74 EPS for the quarter, beating analysts’ consensus estimates of $0.54 by $0.20. Navient had a return on equity of 16.82% and a net margin of 8.14%. The business had revenue of $296.00 million for the quarter, compared to the consensus estimate of $296.50 million. During the same quarter in the prior year, the business posted $0.52 EPS. The business’s revenue for the quarter was down 7.2% on a year-over-year basis.

NAVI has been the topic of a number of research reports. Wedbush downgraded Navient from an “outperform” rating to a “neutral” rating in a research note on Thursday, July 25th. They noted that the move was a valuation call. TheStreet downgraded Navient from a “b-” rating to a “c+” rating in a research note on Monday. Zacks Investment Research downgraded Navient from a “strong-buy” rating to a “hold” rating and set a $14.00 price target on the stock. in a research note on Tuesday, September 24th. BMO Capital Markets set a $17.00 price target on Navient and gave the stock a “hold” rating in a research note on Friday, July 26th. Finally, Credit Suisse Group downgraded Navient from an “outperform” rating to a “neutral” rating and set a $14.50 price target on the stock. in a research note on Thursday, July 25th. They noted that the move was a valuation call. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $15.83.

In related news, major shareholder Canyon Capital Advisors Llc sold 3,500,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $14.95, for a total transaction of $52,325,000.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 1.85% of the company’s stock.

A number of institutional investors have recently bought and sold shares of the business. Boston Partners lifted its position in Navient by 2.2% during the 2nd quarter. Boston Partners now owns 11,002,631 shares of the credit services provider’s stock worth $150,080,000 after acquiring an additional 233,256 shares during the period. LSV Asset Management lifted its position in Navient by 3.2% during the 2nd quarter. LSV Asset Management now owns 7,099,398 shares of the credit services provider’s stock worth $96,906,000 after acquiring an additional 218,576 shares during the period. Prudential Financial Inc. lifted its position in Navient by 12.4% during the 2nd quarter. Prudential Financial Inc. now owns 4,265,722 shares of the credit services provider’s stock worth $58,228,000 after acquiring an additional 469,089 shares during the period. Invesco Ltd. lifted its position in Navient by 63.1% during the 2nd quarter. Invesco Ltd. now owns 4,056,341 shares of the credit services provider’s stock worth $55,369,000 after acquiring an additional 1,569,552 shares during the period. Finally, Bank of New York Mellon Corp lifted its position in Navient by 2.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 3,832,530 shares of the credit services provider’s stock worth $52,314,000 after acquiring an additional 94,728 shares during the period. 95.51% of the stock is owned by institutional investors.

Shares of NAVI traded down $0.11 during mid-day trading on Wednesday, reaching $11.34. The company’s stock had a trading volume of 945,617 shares, compared to its average volume of 1,818,097. Navient has a 12-month low of $8.23 and a 12-month high of $15.67. The stock has a market cap of $2.64 billion, a PE ratio of 5.43, a price-to-earnings-growth ratio of 1.58 and a beta of 2.16. The company has a debt-to-equity ratio of 26.20, a current ratio of 13.85 and a quick ratio of 13.85. The company’s 50 day moving average is $12.76 and its 200 day moving average is $13.05.

The company also recently declared a quarterly dividend, which was paid on Friday, September 20th. Investors of record on Friday, September 6th were paid a dividend of $0.16 per share. The ex-dividend date was Thursday, September 5th. This represents a $0.64 dividend on an annualized basis and a yield of 5.64%. Navient’s dividend payout ratio is presently 30.62%.

About Navient

Navient Corporation provides education loan management and business processing solutions for education, healthcare, and government clients at the federal, state, and local levels in the United States. It operates in three segments: Federal Education Loans, Consumer Lending, and Business Processing. The company holds and acquires Federal Family Education Loan Program loans that are insured or guaranteed by state or not-for-profit agencies; and performs servicing and asset recovery services on its own loan portfolio, and federal education loans owned by the United States Department of Education and other institutions.

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