$340.67 Million in Sales Expected for Navient Corporation (NAVI) This Quarter
Brokerages expect Navient Corporation (NASDAQ:NAVI) to announce sales of $340.67 million for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for Navient Corporation’s earnings, with the lowest sales estimate coming in at $314.00 million and the highest estimate coming in at $365.00 million. Navient Corporation posted sales of $412.00 million in the same quarter last year, which would indicate a negative year over year growth rate of 17.3%. The company is expected to issue its next quarterly earnings report on Tuesday, October 17th.
According to Zacks, analysts expect that Navient Corporation will report full-year sales of $340.67 million for the current fiscal year, with estimates ranging from $1.33 billion to $1.39 billion. For the next fiscal year, analysts forecast that the firm will report sales of $1.27 billion per share, with estimates ranging from $1.26 billion to $1.31 billion. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that cover Navient Corporation.
Navient Corporation (NASDAQ:NAVI) last released its quarterly earnings data on Tuesday, July 18th. The credit services provider reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.02. The firm had revenue of $343 million during the quarter, compared to the consensus estimate of $331.67 million. Navient Corporation had a return on equity of 14.05% and a net margin of 11.50%. The firm’s quarterly revenue was down 15.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.47 earnings per share.
A number of brokerages recently commented on NAVI. Keefe, Bruyette & Woods restated a “buy” rating and set a $20.00 target price on shares of Navient Corporation in a report on Friday, July 14th. Jefferies Group LLC reiterated a “hold” rating and issued a $16.00 price objective on shares of Navient Corporation in a research note on Friday. Zacks Investment Research upgraded Navient Corporation from a “hold” rating to a “buy” rating and set a $16.00 price objective for the company in a research note on Wednesday, April 5th. BidaskClub upgraded Navient Corporation from a “hold” rating to a “buy” rating in a research note on Saturday, June 17th. Finally, BMO Capital Markets reiterated a “hold” rating and issued a $16.00 price objective (down previously from $17.00) on shares of Navient Corporation in a research note on Thursday. One analyst has rated the stock with a sell rating, six have assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Navient Corporation has an average rating of “Hold” and a consensus price target of $18.55.
Shares of Navient Corporation (NASDAQ:NAVI) opened at 14.95 on Friday. Navient Corporation has a 12-month low of $12.66 and a 12-month high of $17.95. The company has a market capitalization of $4.26 billion, a P/E ratio of 7.86 and a beta of 2.48. The company has a 50 day moving average price of $15.86 and a 200 day moving average price of $15.31.
In other news, Director Gilleland Diane Suitt sold 5,467 shares of the firm’s stock in a transaction dated Monday, April 24th. The stock was sold at an average price of $15.89, for a total transaction of $86,870.63. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.68% of the stock is currently owned by company insiders.
Large investors have recently modified their holdings of the company. Boston Advisors LLC acquired a new stake in shares of Navient Corporation during the first quarter valued at $403,000. Bank of The West raised its position in Navient Corporation by 6.9% in the first quarter. Bank of The West now owns 182,445 shares of the credit services provider’s stock valued at $2,693,000 after buying an additional 11,844 shares during the period. DnB Asset Management AS raised its position in Navient Corporation by 1,362.9% in the first quarter. DnB Asset Management AS now owns 290,240 shares of the credit services provider’s stock valued at $4,284,000 after buying an additional 270,400 shares during the period. Atria Investments LLC raised its position in Navient Corporation by 72.8% in the first quarter. Atria Investments LLC now owns 169,350 shares of the credit services provider’s stock valued at $2,500,000 after buying an additional 71,366 shares during the period. Finally, Visionary Asset Management Inc. raised its position in Navient Corporation by 3.2% in the first quarter. Visionary Asset Management Inc. now owns 230,571 shares of the credit services provider’s stock valued at $3,403,000 after buying an additional 7,149 shares during the period. 94.39% of the stock is currently owned by institutional investors and hedge funds.
Navient Corporation Company Profile
Navient Corporation provides asset management and business processing services to education, healthcare and government clients at the federal, state and local levels. The Company holds the portfolio of education loans insured or federally guaranteed under the Federal Family Education Loan Program (FFELP).
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