Navient Corp. (NAVI) Set to Announce Quarterly Earnings on Tuesday
Navient Corp. (NASDAQ:NAVI) will release its earnings data after the market closes on Tuesday, October 18th. Analysts expect Navient Corp. to post earnings of $0.48 per share for the quarter.
Navient Corp. (NASDAQ:NAVI) last posted its quarterly earnings data on Tuesday, July 19th. The company reported $0.47 earnings per share for the quarter, topping the consensus estimate of $0.44 by $0.03. Navient Corp. had a net margin of 16.75% and a return on equity of 16.77%. On average, analysts expect Navient Corp. to post $1.88 EPS for the current fiscal year and $1.99 EPS for the next fiscal year.
Shares of Navient Corp. (NASDAQ:NAVI) opened at 13.91 on Monday. The firm has a market cap of $4.41 billion, a P/E ratio of 5.91 and a beta of 2.31. The company has a 50-day moving average of $14.19 and a 200 day moving average of $13.37. Navient Corp. has a 12-month low of $8.20 and a 12-month high of $14.92.
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The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 16th. Stockholders of record on Friday, December 2nd will be given a $0.16 dividend. The ex-dividend date of this dividend is Wednesday, November 30th. This represents a $0.64 annualized dividend and a dividend yield of 4.60%. Navient Corp.’s dividend payout ratio is 27.47%.
In other news, Director William M. Diefenderfer III sold 16,300 shares of the firm’s stock in a transaction on Friday, August 19th. The stock was sold at an average price of $14.20, for a total value of $231,460.00. Following the completion of the sale, the director now directly owns 88,737 shares in the company, valued at $1,260,065.40. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Bates Ann Torre sold 9,000 shares of the firm’s stock in a transaction on Tuesday, July 26th. The shares were sold at an average price of $14.23, for a total value of $128,070.00. The disclosure for this sale can be found here. Company insiders own 1.05% of the company’s stock.
Several hedge funds have recently made changes to their positions in NAVI. TIAA CREF Investment Management LLC raised its stake in shares of Navient Corp. by 86.0% in the second quarter. TIAA CREF Investment Management LLC now owns 1,796,787 shares of the company’s stock worth $21,472,000 after buying an additional 830,604 shares during the period. BlackRock Institutional Trust Company N.A. raised its stake in shares of Navient Corp. by 7.7% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 9,793,761 shares of the company’s stock worth $117,035,000 after buying an additional 697,891 shares during the period. State of Tennessee Treasury Department raised its stake in shares of Navient Corp. by 154.2% in the second quarter. State of Tennessee Treasury Department now owns 484,202 shares of the company’s stock worth $5,786,000 after buying an additional 293,695 shares during the period. Teachers Retirement System of The State of Kentucky raised its stake in shares of Navient Corp. by 29.7% in the second quarter. Teachers Retirement System of The State of Kentucky now owns 1,202,890 shares of the company’s stock worth $14,375,000 after buying an additional 275,800 shares during the period. Finally, Parametric Portfolio Associates LLC raised its stake in shares of Navient Corp. by 26.6% in the second quarter. Parametric Portfolio Associates LLC now owns 1,265,929 shares of the company’s stock worth $15,128,000 after buying an additional 266,303 shares during the period. Institutional investors own 95.21% of the company’s stock.
Several research firms have recently weighed in on NAVI. Zacks Investment Research cut Navient Corp. from a “buy” rating to a “hold” rating in a research report on Tuesday, June 21st. Goldman Sachs Group Inc. cut Navient Corp. from a “buy” rating to a “neutral” rating and set a $15.00 target price for the company. in a research report on Wednesday, July 20th. Finally, BMO Capital Markets set a $17.00 target price on Navient Corp. and gave the stock a “hold” rating in a research report on Thursday, July 21st. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $15.57.
About Navient Corp.
Navient Corporation is a loan management, servicing and asset recovery company. The Company holds the portfolio of education loans insured or guaranteed under the Federal Family Education Loan Program (FFELP), as well as the portfolio of Private Education Loans. FFELP Loans are insured or guaranteed by state based on guaranty agreements among the United States Department of Education (ED) and these agencies.
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