Navient (NAVI) to Release Earnings on Wednesday

Navient (NASDAQ:NAVI) will issue its quarterly earnings data before the market opens on Wednesday, April 24th. Analysts expect the company to announce earnings of $0.60 per share for the quarter. Navient has set its FY 2024 guidance at 2.100-2.300 EPS.Parties that are interested in registering for the company’s conference call can do so using this link.

Navient (NASDAQ:NAVI) last issued its earnings results on Wednesday, January 31st. The credit services provider reported $0.70 EPS for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.07). Navient had a return on equity of 14.17% and a net margin of 4.72%. The company had revenue of $193.00 million during the quarter, compared to analysts’ expectations of $210.76 million. On average, analysts expect Navient to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Navient Stock Up 0.7 %

Shares of NAVI opened at $16.26 on Wednesday. Navient has a 52 week low of $14.10 and a 52 week high of $19.69. The company has a quick ratio of 13.63, a current ratio of 13.64 and a debt-to-equity ratio of 19.35. The company has a market capitalization of $1.82 billion, a price-to-earnings ratio of 9.13 and a beta of 1.38. The stock’s 50-day moving average price is $16.55 and its 200-day moving average price is $17.15.

Navient Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were given a dividend of $0.16 per share. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $0.64 dividend on an annualized basis and a yield of 3.94%. Navient’s dividend payout ratio is currently 35.96%.

Insiders Place Their Bets

In other Navient news, EVP Mark L. Heleen sold 10,000 shares of the firm’s stock in a transaction on Wednesday, January 31st. The stock was sold at an average price of $17.20, for a total transaction of $172,000.00. Following the completion of the sale, the executive vice president now owns 385,577 shares of the company’s stock, valued at $6,631,924.40. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 22.10% of the stock is owned by insiders.

Institutional Investors Weigh In On Navient

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NAVI. BlackRock Inc. grew its stake in shares of Navient by 27.4% in the second quarter. BlackRock Inc. now owns 16,272,912 shares of the credit services provider’s stock valued at $302,351,000 after buying an additional 3,502,330 shares in the last quarter. Allianz Asset Management GmbH grew its stake in shares of Navient by 22.9% in the first quarter. Allianz Asset Management GmbH now owns 2,641,958 shares of the credit services provider’s stock valued at $45,019,000 after buying an additional 491,644 shares in the last quarter. AQR Capital Management LLC grew its stake in shares of Navient by 32.9% in the fourth quarter. AQR Capital Management LLC now owns 1,891,365 shares of the credit services provider’s stock valued at $31,113,000 after buying an additional 467,779 shares in the last quarter. Point72 Asset Management L.P. acquired a new stake in shares of Navient in the fourth quarter valued at $6,681,000. Finally, Renaissance Technologies LLC acquired a new stake in shares of Navient in the first quarter valued at $4,611,000. Institutional investors and hedge funds own 97.14% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Barclays reiterated an “underweight” rating and set a $14.00 price target (down previously from $17.00) on shares of Navient in a research report on Wednesday, January 10th. Deutsche Bank Aktiengesellschaft initiated coverage on Navient in a research report on Wednesday, January 10th. They issued a “hold” rating and a $19.00 target price on the stock. Citigroup raised their target price on Navient from $17.00 to $18.00 and gave the company a “neutral” rating in a research report on Thursday, February 1st. Stephens downgraded Navient from an “equal weight” rating to an “underweight” rating and set a $16.00 target price on the stock. in a research report on Tuesday, January 2nd. Finally, StockNews.com downgraded Navient from a “buy” rating to a “hold” rating in a research report on Thursday, February 1st. Three investment analysts have rated the stock with a sell rating and seven have given a hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $16.67.

About Navient

Navient Corporation provides technology-enabled education finance and business processing solutions for education, health care, and government clients in the United States. It operates through three segments: Federal Education Loans, Consumer Lending, and Business Processing. The company owns Federal Family Education Loan Program (FFELP) loans that are insured or guaranteed by state or not-for-profit agencies; and performs servicing on its portfolios, as well as federal education loans held by other institutions.