FY2017 EPS Estimates for Navient Corp (NAVI) Boosted by Jefferies Group
Navient Corp (NASDAQ:NAVI) – Analysts at Jefferies Group upped their FY2017 earnings per share (EPS) estimates for Navient Corp in a research note issued to investors on Thursday. Jefferies Group analyst J. Hecht now expects that the credit services provider will post earnings of $1.77 per share for the year, up from their previous forecast of $1.75. Jefferies Group currently has a “Hold” rating and a $16.00 target price on the stock. Jefferies Group also issued estimates for Navient Corp’s Q4 2018 earnings at $0.43 EPS.
NAVI has been the topic of a number of other reports. BidaskClub downgraded shares of Navient Corp from a “hold” rating to a “sell” rating in a research report on Saturday, August 5th. Credit Suisse Group upgraded shares of Navient Corp from a “neutral” rating to an “outperform” rating and set a $16.50 target price on the stock in a research report on Friday, September 8th. BMO Capital Markets cut their target price on shares of Navient Corp from $16.00 to $14.00 and set a “market perform” rating on the stock in a research report on Thursday. Citigroup Inc. began coverage on shares of Navient Corp in a research report on Monday, October 16th. They set a “buy” rating and a $20.00 target price on the stock. Finally, Compass Point upgraded shares of Navient Corp from a “neutral” rating to a “buy” rating and set a $16.50 target price on the stock in a research report on Tuesday, September 5th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $18.27.
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Navient Corp (NASDAQ:NAVI) opened at 12.36 on Monday. The firm has a market cap of $3.35 billion, a PE ratio of 6.83 and a beta of 2.48. The firm’s 50-day moving average is $13.58 and its 200 day moving average is $14.60. Navient Corp has a 1-year low of $11.48 and a 1-year high of $17.95.
Navient Corp (NASDAQ:NAVI) last released its earnings results on Tuesday, October 17th. The credit services provider reported $0.55 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.50 by $0.05. The firm had revenue of $343.00 million for the quarter, compared to analysts’ expectations of $361.33 million. Navient Corp had a net margin of 49.58% and a return on equity of 19.98%. Navient Corp’s quarterly revenue was down 15.3% on a year-over-year basis. During the same quarter last year, the company earned $0.50 EPS.
Several hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of Navient Corp by 4.3% in the 1st quarter. Vanguard Group Inc. now owns 39,295,006 shares of the credit services provider’s stock valued at $579,995,000 after acquiring an additional 1,606,973 shares during the last quarter. BlackRock Inc. increased its stake in shares of Navient Corp by 2,615.0% in the 1st quarter. BlackRock Inc. now owns 21,395,479 shares of the credit services provider’s stock valued at $315,797,000 after acquiring an additional 20,607,439 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Navient Corp by 1.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 9,130,065 shares of the credit services provider’s stock valued at $152,017,000 after acquiring an additional 113,420 shares during the last quarter. Prudential Financial Inc. increased its stake in shares of Navient Corp by 446.1% in the 2nd quarter. Prudential Financial Inc. now owns 5,696,350 shares of the credit services provider’s stock valued at $94,845,000 after acquiring an additional 4,653,171 shares during the last quarter. Finally, LSV Asset Management increased its stake in shares of Navient Corp by 6.3% in the 2nd quarter. LSV Asset Management now owns 5,429,642 shares of the credit services provider’s stock valued at $90,403,000 after acquiring an additional 319,939 shares during the last quarter. 93.01% of the stock is owned by institutional investors.
In other news, EVP John M. Kane sold 28,886 shares of the company’s stock in a transaction dated Tuesday, September 26th. The stock was sold at an average price of $15.00, for a total value of $433,290.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.68% of the company’s stock.
Navient Corp announced that its board has initiated a share repurchase program on Wednesday, October 4th that allows the company to buyback shares. This buyback authorization allows the credit services provider to repurchase shares of its stock through open market purchases. Shares buyback programs are often an indication that the company’s board believes its shares are undervalued.
About Navient Corp
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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