Navient (NASDAQ:NAVI) Posts Quarterly Earnings Results, Beats Expectations By $0.05 EPS

Navient (NASDAQ:NAVI) posted its earnings results on Wednesday. The credit services provider reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.05, reports. The firm had revenue of $163.00 million during the quarter, compared to analysts’ expectations of $188.04 million. Navient had a net margin of 3.93% and a return on equity of 12.09%. Navient updated its FY 2024 guidance to 1.550-1.750 EPS.

Navient Stock Up 0.7 %

Shares of NASDAQ:NAVI traded up $0.11 during trading hours on Friday, hitting $15.87. The company’s stock had a trading volume of 49,120 shares, compared to its average volume of 918,194. The company has a debt-to-equity ratio of 18.38, a current ratio of 12.52 and a quick ratio of 13.63. The company has a market capitalization of $1.78 billion, a price-to-earnings ratio of 10.10 and a beta of 1.38. The firm’s fifty day moving average price is $16.56 and its 200 day moving average price is $17.10. Navient has a 52 week low of $14.10 and a 52 week high of $19.69.

Navient Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were paid a $0.16 dividend. The ex-dividend date was Thursday, February 29th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 4.03%. Navient’s payout ratio is currently 41.03%.

Insider Activity

In other news, EVP Mark L. Heleen sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 31st. The shares were 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 in the company, valued at approximately $6,631,924.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 27.99% of the company’s stock.

Hedge Funds Weigh In On Navient

A number of large investors have recently bought and sold shares of the business. Impact Partnership Wealth LLC boosted its stake in Navient by 277.8% in the 3rd quarter. Impact Partnership Wealth LLC now owns 1,511 shares of the credit services provider’s stock worth $26,000 after purchasing an additional 1,111 shares during the period. Allspring Global Investments Holdings LLC bought a new position in shares of Navient in the first quarter worth about $36,000. CWM LLC raised its stake in shares of Navient by 314.6% during the third quarter. CWM LLC now owns 2,193 shares of the credit services provider’s stock worth $38,000 after buying an additional 1,664 shares during the last quarter. PNC Financial Services Group Inc. increased its stake in Navient by 13.1% in the third quarter. PNC Financial Services Group Inc. now owns 5,236 shares of the credit services provider’s stock valued at $90,000 after purchasing an additional 607 shares in the last quarter. Finally, Exchange Traded Concepts LLC boosted its holdings in Navient by 367.7% during the third quarter. Exchange Traded Concepts LLC now owns 6,795 shares of the credit services provider’s stock worth $117,000 after purchasing an additional 5,342 shares during the last quarter. Institutional investors own 97.14% of the company’s stock.

Wall Street Analysts Forecast Growth

NAVI has been the subject of a number of research reports. Keefe, Bruyette & Woods lowered their target price on Navient from $19.00 to $17.00 and set a “market perform” rating for the company in a research note on Thursday. JPMorgan Chase & Co. lowered their price target on Navient from $17.00 to $16.00 and set a “neutral” rating on the stock in a report on Thursday. TD Cowen lowered Navient from a “market perform” rating to an “underperform” rating and lowered their price target for the stock from $17.00 to $15.00 in a research report on Monday, January 8th. Deutsche Bank Aktiengesellschaft assumed coverage on Navient in a report on Wednesday, January 10th. They set a “hold” rating and a $19.00 price target on the stock. Finally, Citigroup raised their price objective on Navient from $17.00 to $18.00 and gave the stock a “neutral” rating in a research note on Thursday, February 1st. Three equities research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $16.30.

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.