Navient Corp Receives Consensus Recommendation of “Buy” from Brokerages (NASDAQ:NAVI)
Shares of Navient Corp (NASDAQ:NAVI) have earned an average rating of “Buy” from the nine ratings firms that are presently covering the company, American Banking News.com reports. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, five have given a buy rating and one has given a strong buy rating to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $18.00.
In other Navient Corp news, Director Barry Lawson Williams unloaded 14,450 shares of the company’s stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $17.42, for a total value of $251,719.00. The transaction was disclosed in a filing with the SEC, which is available at this link.
A number of analysts have recently weighed in on NAVI shares. Analysts at Compass Point reiterated a “focus list” rating on shares of Navient Corp in a research note on Monday, July 14th. Separately, analysts at TheStreet downgraded shares of Navient Corp from a “hold” rating to a “sell” rating in a research note on Tuesday, June 3rd. Finally, analysts at Janney Montgomery Scott initiated coverage on shares of Navient Corp in a research note on Tuesday, May 20th. They set a “buy” rating and a $18.00 price target on the stock.
Shares of Navient Corp (NASDAQ:NAVI) opened at 17.10 on Friday. Navient Corp has a 52 week low of $15.00 and a 52 week high of $18.28. The stock’s 50-day moving average is $17.62 and its 200-day moving average is $16.9. The company has a market cap of $7.172 billion and a P/E ratio of 7.25. Navient Corp also was the recipient of a significant decrease in short interest during the month of July. As of July 31st, there was short interest totalling 7,191,141 shares, a decrease of 23.0% from the July 15th total of 9,336,423 shares. Currently, 1.7% of the shares of the stock are short sold. Based on an average daily volume of 2,561,808 shares, the short-interest ratio is currently 2.8 days.
Navient Corp (NASDAQ:NAVI) last announced its earnings results on Wednesday, July 16th. The company reported $0.56 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.53 by $0.03. The company had revenue of $662.00 million for the quarter, compared to the consensus estimate of $572.33 million. The company’s quarterly revenue was down 15.6% on a year-over-year basis. On average, analysts predict that Navient Corp will post $2.05 earnings per share for the current fiscal year.
Navient Corporation holds the portfolio of education loans insured or guaranteed under the Federal Family Education Loan Program (NASDAQ:NAVI), as well as the portfolio of private education loans (Private Education Loans).
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