SLM (NASDAQ:SLM) Updates FY 2024 Earnings Guidance

SLM (NASDAQ:SLM) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided earnings per share guidance of 2.700-2.800 for the period, compared to the consensus earnings per share estimate of 2.830. The company issued revenue guidance of -.

SLM Stock Down 1.0 %

NASDAQ:SLM traded down $0.23 during mid-day trading on Wednesday, hitting $22.80. The company had a trading volume of 1,325,457 shares, compared to its average volume of 1,773,825. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 2.66. SLM has a 1 year low of $12.26 and a 1 year high of $23.95. The firm has a market capitalization of $4.96 billion, a price-to-earnings ratio of 7.17, a PEG ratio of 0.60 and a beta of 1.15. The business has a fifty day simple moving average of $21.86 and a 200-day simple moving average of $21.48.

SLM (NASDAQ:SLM) last announced its quarterly earnings data on Wednesday, July 24th. The credit services provider reported $1.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.79 by $0.32. The firm had revenue of $783.28 million for the quarter, compared to analysts’ expectations of $368.97 million. SLM had a return on equity of 41.84% and a net margin of 24.67%. During the same period last year, the business posted $1.10 earnings per share. Equities analysts forecast that SLM will post 2.85 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have commented on SLM. Deutsche Bank Aktiengesellschaft raised their target price on shares of SLM from $25.00 to $29.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Bank of America started coverage on SLM in a report on Wednesday, September 25th. They issued a “buy” rating and a $27.00 price objective for the company. JPMorgan Chase & Co. cut their price target on shares of SLM from $25.00 to $24.00 and set a “neutral” rating for the company in a report on Monday, October 7th. Keefe, Bruyette & Woods boosted their target price on shares of SLM from $25.00 to $27.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Finally, Barclays upped their price target on SLM from $23.00 to $27.00 and gave the company an “overweight” rating in a report on Tuesday, October 8th. Two research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $24.83.

Insider Transactions at SLM

In related news, Director Robert S. Strong sold 4,500 shares of the stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $22.70, for a total value of $102,150.00. Following the completion of the sale, the director now owns 101,093 shares in the company, valued at approximately $2,294,811.10. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.20% of the company’s stock.

SLM Company Profile

SLM Corporation, through its subsidiaries, originates and services private education loans to students and their families to finance the cost of their education in the United States. It is also involved in the provision of retail deposit accounts, including certificates of deposit, money market accounts, and high-yield savings accounts; and interest-bearing omnibus accounts.