SLM (NASDAQ:SLM) Updates FY 2024 Earnings Guidance

SLM (NASDAQ:SLM) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of 2.600-2.700 for the period, compared to the consensus estimate of 2.690. The company issued revenue guidance of -. SLM also updated its FY24 guidance to $2.60-$2.70 EPS.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Royal Bank of Canada lifted their price target on shares of SLM from $24.00 to $25.00 and gave the company an outperform rating in a research report on Thursday. Wedbush lifted their price target on shares of SLM from $26.00 to $28.00 and gave the company an outperform rating in a research report on Thursday. Citigroup upgraded shares of SLM from a neutral rating to a buy rating and lifted their price target for the company from $14.00 to $23.00 in a research report on Tuesday, January 16th. TheStreet upgraded shares of SLM from a c+ rating to a b rating in a research report on Wednesday, January 24th. Finally, Deutsche Bank Aktiengesellschaft began coverage on SLM in a research report on Wednesday, January 10th. They set a buy rating and a $25.00 price objective for the company. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average price target of $21.32.

SLM Trading Down 0.1 %

Shares of NASDAQ SLM traded down $0.03 during trading on Friday, hitting $21.90. 1,137,068 shares of the company traded hands, compared to its average volume of 2,142,916. SLM has a 1 year low of $12.26 and a 1 year high of $22.37. The company has a 50-day moving average price of $20.91 and a 200-day moving average price of $18.17. The firm has a market capitalization of $4.83 billion, a P/E ratio of 6.85, a P/E/G ratio of 0.45 and a beta of 1.16. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 3.21.

SLM (NASDAQ:SLM) last issued its earnings results on Wednesday, April 24th. The credit services provider reported $1.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.09 by $0.18. The business had revenue of $837.72 million for the quarter, compared to analyst estimates of $376.43 million. SLM had a net margin of 25.15% and a return on equity of 47.72%. During the same quarter in the prior year, the business posted $0.47 EPS. On average, equities analysts predict that SLM will post 2.72 EPS for the current year.

SLM Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Thursday, June 6th will be issued a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 2.01%. The ex-dividend date is Wednesday, June 5th. SLM’s payout ratio is 13.75%.

SLM announced that its Board of Directors has authorized a share buyback program on Wednesday, January 24th that allows the company to buyback $650.00 million in shares. This buyback authorization allows the credit services provider to purchase up to 14.5% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its stock is undervalued.

Insider Buying and Selling

In related news, EVP Donna F. Vieira sold 12,308 shares of the firm’s stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $20.27, for a total transaction of $249,483.16. Following the completion of the sale, the executive vice president now directly owns 126,500 shares in the company, valued at $2,564,155. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, SVP Jonathan Boyles sold 94,078 shares of the company’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $20.72, for a total value of $1,949,296.16. Following the completion of the sale, the senior vice president now owns 52,751 shares in the company, valued at approximately $1,093,000.72. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Donna F. Vieira sold 12,308 shares of the company’s stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $20.27, for a total transaction of $249,483.16. Following the completion of the sale, the executive vice president now owns 126,500 shares of the company’s stock, valued at approximately $2,564,155. The disclosure for this sale can be found here. 0.91% of the stock is currently owned by insiders.

SLM Company Profile

SLM Corporation, through its subsidiaries, originates and services private education loans to students and their families to finance the cost of their education in the United States. It is also involved in the provision of retail deposit accounts, including certificates of deposit, money market accounts, and high-yield savings accounts; and interest-bearing omnibus accounts.