Navient (NASDAQ:NAVI) Issues FY 2024 Earnings Guidance

Navient (NASDAQ:NAVI) issued an update on its FY 2024 earnings guidance on Friday morning. The company provided EPS guidance of 1.350-1.550 for the period, compared to the consensus EPS estimate of 1.490. The company issued revenue guidance of -.

Navient Stock Up 2.2 %

Shares of NAVI traded up $0.35 during midday trading on Friday, hitting $15.95. 1,079,895 shares of the company’s stock traded hands, compared to its average volume of 735,957. Navient has a 1 year low of $13.95 and a 1 year high of $19.68. The firm’s fifty day moving average is $14.77 and its 200-day moving average is $15.89. The company has a current ratio of 9.99, a quick ratio of 12.52 and a debt-to-equity ratio of 17.30. The stock has a market capitalization of $1.75 billion, a price-to-earnings ratio of 10.22 and a beta of 1.40.

Navient (NASDAQ:NAVI) last issued its quarterly earnings results on Wednesday, July 24th. The credit services provider reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.14). The business had revenue of $1.09 billion during the quarter, compared to analyst estimates of $157.27 million. Navient had a return on equity of 11.06% and a net margin of 3.41%. During the same period in the prior year, the business posted $0.70 EPS. As a group, sell-side analysts anticipate that Navient will post 1.48 earnings per share for the current year.

Navient Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 21st. Shareholders of record on Friday, June 7th were paid a dividend of $0.16 per share. The ex-dividend date was Friday, June 7th. This represents a $0.64 dividend on an annualized basis and a yield of 4.01%. Navient’s payout ratio is 41.03%.

Wall Street Analyst Weigh In

NAVI has been the topic of a number of research analyst reports. Barclays dropped their price objective on shares of Navient from $11.00 to $10.00 and set an underweight rating on the stock in a report on Tuesday, July 9th. JPMorgan Chase & Co. reduced their price objective on Navient from $16.00 to $15.00 and set a neutral rating for the company in a research note on Monday, July 8th. Keefe, Bruyette & Woods upped their target price on Navient from $15.00 to $16.00 and gave the company a market perform rating in a research report on Thursday. Finally, TD Cowen reduced their price target on shares of Navient from $14.00 to $13.00 and set a sell rating for the company in a research report on Friday, April 26th. Three research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of Hold and an average target price of $15.80.

Insider Activity

In related news, EVP Mark L. Heleen sold 10,000 shares of the stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $16.00, for a total transaction of $160,000.00. Following the sale, the executive vice president now directly owns 393,611 shares of the company’s stock, valued at $6,297,776. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 27.99% of the company’s stock.

Navient Company Profile

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.