Navient (NASDAQ:NAVI) Shares Up 9.5% After Earnings Beat

Navient Corp (NASDAQ:NAVI)’s stock price was up 9.5% during mid-day trading on Wednesday following a better than expected earnings announcement. The company traded as high as $15.34 and last traded at $15.18, approximately 4,830,196 shares changed hands during trading. An increase of 161% from the average daily volume of 1,849,536 shares. The stock had previously closed at $13.86.

The credit services provider reported $0.67 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.10. Navient had a return on equity of 17.50% and a net margin of 8.80%. The business had revenue of $294.00 million during the quarter, compared to analyst estimates of $298.33 million. During the same quarter in the prior year, the company posted $0.58 EPS.

NAVI has been the topic of several research analyst reports. Stephens started coverage on Navient in a research note on Tuesday, December 10th. They set an “equal weight” rating and a $17.00 target price on the stock. Barclays lowered Navient from an “overweight” rating to an “equal weight” rating and set a $16.00 price target for the company. in a research note on Thursday, January 9th. ValuEngine cut shares of Navient from a “sell” rating to a “strong sell” rating in a report on Friday, October 25th. Zacks Investment Research upgraded shares of Navient from a “hold” rating to a “strong-buy” rating and set a $14.00 price target on the stock in a report on Monday, October 28th. Finally, BidaskClub downgraded shares of Navient from a “hold” rating to a “sell” rating in a research report on Tuesday, December 31st. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, one has given a buy rating and one has given a strong buy rating to the company. Navient has a consensus rating of “Hold” and a consensus target price of $15.67.

Institutional investors and hedge funds have recently modified their holdings of the business. Huntington National Bank raised its position in shares of Navient by 190.0% in the 4th quarter. Huntington National Bank now owns 2,900 shares of the credit services provider’s stock worth $40,000 after acquiring an additional 1,900 shares in the last quarter. HM Payson & Co. bought a new stake in shares of Navient during the 2nd quarter valued at $64,000. Doyle Wealth Management bought a new stake in shares of Navient during the 2nd quarter valued at $72,000. LPL Financial LLC purchased a new stake in shares of Navient in the 2nd quarter worth about $138,000. Finally, Vestmark Advisory Solutions Inc. purchased a new stake in shares of Navient in the 3rd quarter worth about $141,000. Institutional investors and hedge funds own 95.44% of the company’s stock.

The company has a current ratio of 13.16, a quick ratio of 13.16 and a debt-to-equity ratio of 26.07. The company’s 50 day moving average is $13.79 and its 200-day moving average is $13.43. The company has a market capitalization of $3.06 billion, a P/E ratio of 7.33, a price-to-earnings-growth ratio of 0.19 and a beta of 2.13.

About Navient (NASDAQ:NAVI)

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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