SLM Corp (NASDAQ:SLM) – Equities researchers at Oppenheimer cut their Q3 2019 earnings estimates for SLM in a report issued on Thursday, July 25th. Oppenheimer analyst D. Gabriele now forecasts that the credit services provider will earn $0.26 per share for the quarter, down from their previous estimate of $0.27. Oppenheimer currently has a “Buy” rating and a $12.00 target price on the stock. Oppenheimer also issued estimates for SLM’s Q4 2019 earnings at $0.33 EPS, FY2019 earnings at $1.24 EPS and FY2020 earnings at $1.38 EPS.
SLM (NASDAQ:SLM) last released its earnings results on Wednesday, July 24th. The credit services provider reported $0.31 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.30 by $0.01. SLM had a net margin of 26.18% and a return on equity of 20.44%. The firm had revenue of $396.87 million for the quarter, compared to analyst estimates of $401.69 million. During the same period in the prior year, the firm earned $0.25 earnings per share.
SLM stock opened at $9.19 on Monday. The stock’s 50 day moving average price is $9.51. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.37 and a quick ratio of 1.37. SLM has a fifty-two week low of $7.95 and a fifty-two week high of $12.09. The stock has a market capitalization of $3.92 billion, a price-to-earnings ratio of 8.59, a price-to-earnings-growth ratio of 0.42 and a beta of 1.39.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Friday, September 6th will be given a $0.03 dividend. The ex-dividend date of this dividend is Thursday, September 5th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.31%. SLM’s dividend payout ratio is currently 11.21%.
Hedge funds have recently made changes to their positions in the business. Huntington National Bank raised its holdings in shares of SLM by 69.2% in the 1st quarter. Huntington National Bank now owns 2,890 shares of the credit services provider’s stock worth $29,000 after buying an additional 1,182 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. acquired a new position in shares of SLM in the 2nd quarter worth approximately $49,000. Twin Tree Management LP acquired a new position in shares of SLM in the 1st quarter worth approximately $52,000. Cleararc Capital Inc. acquired a new position in shares of SLM in the 1st quarter worth approximately $111,000. Finally, Pearl River Capital LLC raised its holdings in shares of SLM by 137.0% in the 1st quarter. Pearl River Capital LLC now owns 13,746 shares of the credit services provider’s stock worth $136,000 after buying an additional 7,947 shares in the last quarter.
SLM Corporation, through its subsidiaries, operates as a saving, planning, and paying for college company in the United States. The company originates and services private education loans to students or their families. It also offers retail deposit accounts, including certificates of deposit, money market deposit accounts, and high yield savings accounts; omnibus accounts; and a consumer savings network that provides financial rewards on everyday purchases to help families save for college.
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