Navient Corp. (NAVI) Announces Earnings Results, Beats Estimates By $0.02 EPS
Navient Corp. (NASDAQ:NAVI) announced its quarterly earnings results on Tuesday. The company reported $0.50 EPS for the quarter, beating the Zacks’ consensus estimate of $0.48 by $0.02. Navient Corp. had a net margin of 16.75% and a return on equity of 16.77%. The firm earned $405 million during the quarter, compared to the consensus estimate of $391.75 million. During the same quarter last year, the firm earned $0.47 EPS. The firm’s revenue for the quarter was down 12.0% compared to the same quarter last year.
Shares of Navient Corp. (NASDAQ:NAVI) traded up 0.33% during trading on Tuesday, hitting $13.61. 3,685,896 shares of the stock were exchanged. The company has a market cap of $4.31 billion, a price-to-earnings ratio of 5.78 and a beta of 2.31. The stock’s 50 day moving average price is $14.17 and its 200-day moving average price is $13.40. Navient Corp. has a one year low of $8.20 and a one year high of $14.92.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 16th. Stockholders of record on Friday, December 2nd will be given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 4.70%. The ex-dividend date is Wednesday, November 30th. Navient Corp.’s dividend payout ratio (DPR) is presently 27.47%.
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Several brokerages have issued reports on NAVI. Zacks Investment Research raised shares of Navient Corp. from a “sell” rating to a “hold” rating in a research note on Tuesday, September 20th. BMO Capital Markets set a $17.00 price objective on shares of Navient Corp. and gave the stock a “hold” rating in a research note on Thursday, July 21st. Finally, Goldman Sachs Group Inc. downgraded shares of Navient Corp. from a “buy” rating to a “neutral” rating and set a $15.00 price objective for the company. in a research note on Wednesday, July 20th. 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 currently has an average rating of “Buy” and a consensus price target of $15.57.
In related news, Director Bates Ann Torre sold 9,000 shares of the company’s stock in a transaction dated Tuesday, July 26th. The shares were sold at an average price of $14.23, for a total transaction of $128,070.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director William M. Diefenderfer III sold 16,300 shares of the company’s stock in a transaction dated Friday, August 19th. The shares were sold at an average price of $14.20, for a total transaction of $231,460.00. Following the sale, the director now directly owns 88,737 shares of the company’s stock, valued at approximately $1,260,065.40. The disclosure for this sale can be found here. Insiders own 1.05% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. Thrivent Financial for Lutherans purchased a new position in Navient Corp. during the second quarter valued at $121,000. Highbridge Capital Management LLC purchased a new position in Navient Corp. during the second quarter valued at $178,000. Stevens Capital Management LP purchased a new position in Navient Corp. during the second quarter valued at $187,000. Pacer Advisors Inc. raised its position in Navient Corp. by 460.7% in the second quarter. Pacer Advisors Inc. now owns 28,368 shares of the company’s stock valued at $339,000 after buying an additional 23,309 shares during the last quarter. Finally, Advisor Group Inc. purchased a new position in Navient Corp. during the second quarter valued at $370,000. 95.19% of the stock is owned by institutional investors.
Navient Corp. Company Profile
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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