Navient Corporation (NAVI) Expected to Announce Quarterly Sales of $367.00 Million
Brokerages expect Navient Corporation (NASDAQ:NAVI) to announce $367.00 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Navient Corporation’s earnings, with the highest sales estimate coming in at $373.00 million and the lowest estimate coming in at $361.00 million. Navient Corporation posted sales of $378.00 million during the same quarter last year, which would indicate a negative year-over-year growth rate of 2.9%. The firm is expected to announce its next earnings report on Tuesday, January 23rd.
According to Zacks, analysts expect that Navient Corporation will report full year sales of $367.00 million for the current financial year, with estimates ranging from $1.38 billion to $1.44 billion. For the next year, analysts expect that the company will post sales of $1.38 billion per share, with estimates ranging from $1.35 billion to $1.41 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that cover Navient Corporation.
Navient Corporation (NASDAQ:NAVI) last announced its quarterly earnings data on Tuesday, October 17th. The credit services provider reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.05. The business had revenue of $343.00 million during the quarter, compared to analysts’ expectations of $361.33 million. Navient Corporation had a return on equity of 14.09% and a net margin of 10.88%. The business’s quarterly revenue was down 15.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.50 EPS.
A number of equities research analysts have recently issued reports on NAVI shares. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $20.00 target price on shares of Navient Corporation in a research note on Friday, July 14th. Compass Point upgraded Navient Corporation from a “neutral” rating to a “buy” rating and set a $16.50 price objective for the company in a research note on Tuesday, September 5th. Citigroup Inc assumed coverage on Navient Corporation in a research note on Monday, October 16th. They set a “buy” rating and a $20.00 price objective for the company. BidaskClub lowered Navient Corporation from a “buy” rating to a “hold” rating in a research note on Monday, July 24th. Finally, Jefferies Group LLC restated a “hold” rating and set a $16.00 price objective on shares of Navient Corporation in a research note on Friday, July 21st. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $18.27.
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Shares of Navient Corporation (NASDAQ:NAVI) traded up 2.88% during trading on Thursday, hitting $12.13. The stock had a trading volume of 1,336,246 shares. The firm has a market cap of $3.28 billion, a price-to-earnings ratio of 6.71 and a beta of 2.48. Navient Corporation has a 12-month low of $11.48 and a 12-month high of $17.95. The stock has a 50-day moving average of $13.44 and a 200 day moving average of $14.55.
Navient Corporation announced that its Board of Directors has initiated a stock repurchase program on Wednesday, October 4th that authorizes the company to repurchase outstanding shares. This repurchase authorization authorizes the credit services provider to reacquire shares of its stock through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its stock is undervalued.
In related news, CFO Christian M. Lown purchased 6,000 shares of the business’s stock in a transaction that occurred on Friday, October 20th. The shares were acquired at an average price of $12.35 per share, with a total value of $74,100.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP John M. Kane sold 28,886 shares of the firm’s stock in a transaction that occurred on Tuesday, September 26th. The stock was sold at an average price of $15.00, for a total value of $433,290.00. The disclosure for this sale can be found here. Company insiders own 1.68% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. First Midwest Bank Trust Division bought a new stake in shares of Navient Corporation in the 3rd quarter worth approximately $175,000. Assenagon Asset Management S.A. bought a new stake in shares of Navient Corporation in the 3rd quarter worth approximately $3,796,000. Mutual of America Capital Management LLC lifted its holdings in shares of Navient Corporation by 12.8% in the 3rd quarter. Mutual of America Capital Management LLC now owns 38,362 shares of the credit services provider’s stock worth $576,000 after purchasing an additional 4,340 shares during the last quarter. Shell Asset Management Co. lifted its holdings in shares of Navient Corporation by 278.0% in the 3rd quarter. Shell Asset Management Co. now owns 72,883 shares of the credit services provider’s stock worth $1,291,000 after purchasing an additional 53,603 shares during the last quarter. Finally, Eqis Capital Management Inc. lifted its holdings in shares of Navient Corporation by 16.8% in the 3rd quarter. Eqis Capital Management Inc. now owns 32,035 shares of the credit services provider’s stock worth $481,000 after purchasing an additional 4,616 shares during the last quarter. 93.10% of the stock is currently owned by institutional investors and hedge funds.
About Navient Corporation
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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