Navient (NASDAQ:NAVI) Releases FY 2024 Earnings Guidance

Navient (NASDAQ:NAVI) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided earnings per share guidance of 1.550-1.750 for the period, compared to the consensus earnings per share estimate of 2.110. The company issued revenue guidance of -.

Analyst Upgrades and Downgrades

NAVI has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods reduced their price target on shares of Navient from $19.00 to $17.00 and set a market perform rating on the stock in a research report on Thursday. Deutsche Bank Aktiengesellschaft began coverage on Navient in a research report on Wednesday, January 10th. They set a hold rating and a $19.00 price target on the stock. TD Cowen lowered Navient from a market perform rating to an underperform rating and lowered their target price for the company from $17.00 to $15.00 in a research note on Monday, January 8th. JPMorgan Chase & Co. raised Navient from an underweight rating to a neutral rating and reduced their price objective for the stock from $18.00 to $17.00 in a report on Wednesday, April 3rd. Finally, Barclays reissued an underweight rating and set a $14.00 price target (down from $17.00) on shares of Navient in a research note on Wednesday, January 10th. Three analysts have rated the stock with a sell rating and eight have given a hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of Hold and an average price target of $16.70.

Navient Trading Down 3.2 %

Navient stock traded down $0.52 during mid-day trading on Thursday, hitting $15.57. 619,885 shares of the company’s stock were exchanged, compared to its average volume of 916,535. The company’s 50 day simple moving average is $16.57 and its 200-day simple moving average is $17.11. 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 firm has a market capitalization of $1.74 billion, a P/E ratio of 8.73 and a beta of 1.38. Navient has a fifty-two week low of $14.10 and a fifty-two week high of $19.69.

Navient (NASDAQ:NAVI) last announced its quarterly earnings results on Wednesday, April 24th. The credit services provider reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.05. Navient had a return on equity of 14.17% and a net margin of 4.72%. The company had revenue of $163.00 million during the quarter, compared to the consensus estimate of $188.04 million. On average, equities analysts anticipate that Navient will post 2.12 earnings per share for the current year.

Navient Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 4.11%. The ex-dividend date of this dividend was Thursday, February 29th. Navient’s payout ratio is currently 35.96%.

Insider Transactions at Navient

In other Navient news, EVP Mark L. Heleen sold 10,000 shares of Navient stock in a transaction dated Wednesday, January 31st. The stock was sold at an average price of $17.20, for a total value of $172,000.00. Following the sale, the executive vice president now owns 385,577 shares of the company’s stock, valued at approximately $6,631,924.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 27.99% of the stock is owned by insiders.

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.