Navient (NASDAQ:NAVI) Releases FY 2024 Earnings Guidance

Navient (NASDAQ:NAVI) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of 1.550-1.750 for the period, compared to the consensus estimate of 2.110. The company issued revenue guidance of -.

Navient Trading Down 3.1 %

Shares of NASDAQ NAVI traded down $0.51 during trading on Wednesday, hitting $16.09. 2,249,432 shares of the company traded hands, compared to its average volume of 921,282. Navient has a 1 year low of $14.10 and a 1 year high of $19.69. The company has a 50-day moving average price of $16.57 and a 200-day moving average price of $17.12. The firm has a market capitalization of $1.80 billion, a P/E ratio of 8.97 and a beta of 1.38. The company has a quick ratio of 13.63, a current ratio of 13.64 and a debt-to-equity ratio of 19.35.

Navient (NASDAQ:NAVI) last announced its quarterly earnings data on Wednesday, January 31st. The credit services provider reported $0.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.77 by ($0.07). The company had revenue of $193.00 million for the quarter, compared to analysts’ expectations of $210.76 million. Navient had a net margin of 4.72% and a return on equity of 14.17%. On average, equities analysts predict that Navient will post 2.12 EPS for the current year.

Navient Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were issued a dividend of $0.16 per share. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $0.64 annualized dividend and a dividend yield of 3.98%. Navient’s payout ratio is 35.96%.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Barclays restated an underweight rating and set a $14.00 target price (down previously from $17.00) on shares of Navient in a report on Wednesday, January 10th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Navient in a report on Wednesday, January 10th. They issued a hold rating and a $19.00 price objective on the stock. Citigroup boosted their price objective on shares of Navient from $17.00 to $18.00 and gave the stock a neutral rating in a report on Thursday, February 1st. JPMorgan Chase & Co. upgraded shares of Navient from an underweight rating to a neutral rating and cut their price objective for the stock from $18.00 to $17.00 in a report on Wednesday, April 3rd. Finally, TD Cowen lowered shares of Navient from a market perform rating to an underperform rating and cut their price objective for the stock from $17.00 to $15.00 in a report on Monday, January 8th. Three analysts have rated the stock with a sell rating and seven have issued a hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of Hold and an average target price of $16.67.

Insider Activity

In other news, EVP Mark L. Heleen sold 10,000 shares of the company’s stock in a transaction dated Wednesday, January 31st. The shares were sold at an average price of $17.20, for a total value of $172,000.00. Following the sale, the executive vice president now owns 385,577 shares in the company, valued at approximately $6,631,924.40. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 27.99% of the company’s stock.

About Navient

Navient Corporation provides technology-enabled education finance and business processing solutions for education, health care, and government clients in the United States. It operates through three segments: Federal Education Loans, Consumer Lending, and Business Processing. The company owns Federal Family Education Loan Program (FFELP) loans that are insured or guaranteed by state or not-for-profit agencies; and performs servicing on its portfolios, as well as federal education loans held by other institutions.