Navient Corp. (NAVI) to Release Earnings on Tuesday
Navient Corp. (NASDAQ:NAVI) is set to release its earnings data after the market closes on Tuesday, October 18th. Analysts expect Navient Corp. to post earnings of $0.48 per share for the quarter.
Navient Corp. (NASDAQ:NAVI) last released its earnings results on Tuesday, July 19th. The company reported $0.47 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.44 by $0.03. Navient Corp. had a net margin of 16.75% and a return on equity of 16.77%. On average, analysts expect Navient Corp. to post $1.88 EPS for the current fiscal year and $2.03 EPS for the next fiscal year.
Shares of Navient Corp. (NASDAQ:NAVI) opened at 13.91 on Friday. The stock has a 50 day moving average of $14.19 and a 200-day moving average of $13.37. The firm has a market capitalization of $4.41 billion, a price-to-earnings ratio of 5.91 and a beta of 2.31. Navient Corp. has a one year low of $8.20 and a one year high of $14.92.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 16th. Stockholders of record on Friday, December 2nd will be given a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 4.60%. The ex-dividend date of this dividend is Wednesday, November 30th. Navient Corp.’s dividend payout ratio is presently 27.47%.
A number of research firms have recently weighed in on NAVI. BMO Capital Markets set a $17.00 price objective on shares of Navient Corp. and gave the company a “hold” rating in a research report on Thursday, July 21st. Goldman Sachs Group Inc. lowered shares of Navient Corp. from a “buy” rating to a “neutral” rating and set a $15.00 price objective for the company. in a research report on Wednesday, July 20th. Finally, Zacks Investment Research downgraded shares of Navient Corp. from a “hold” rating to a “sell” rating in a report on Friday, July 22nd. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $15.57.
In other news, Director William M. Diefenderfer III sold 16,300 shares of the company’s stock in a transaction on Friday, August 19th. The shares were sold at an average price of $14.20, for a total value of $231,460.00. Following the completion of the transaction, the director now directly owns 88,737 shares in the company, valued at $1,260,065.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Bates Ann Torre sold 9,000 shares of the company’s stock in a transaction on Tuesday, July 26th. The shares were sold at an average price of $14.23, for a total transaction of $128,070.00. The disclosure for this sale can be found here. Company insiders own 1.05% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in NAVI. Stevens Capital Management LP purchased a new position in shares of Navient Corp. during the second quarter valued at $187,000. Raymond James & Associates increased its position in shares of Navient Corp. by 0.6% in the second quarter. Raymond James & Associates now owns 439,958 shares of the company’s stock valued at $5,257,000 after buying an additional 2,555 shares during the period. Teachers Advisors Inc. increased its position in shares of Navient Corp. by 25.5% in the second quarter. Teachers Advisors Inc. now owns 536,024 shares of the company’s stock valued at $6,405,000 after buying an additional 109,014 shares during the period. TIAA CREF Investment Management LLC increased its position in shares of Navient Corp. by 86.0% in the second quarter. TIAA CREF Investment Management LLC now owns 1,796,787 shares of the company’s stock valued at $21,472,000 after buying an additional 830,604 shares during the period. Finally, Pacad Investment Ltd. increased its position in shares of Navient Corp. by 42.9% in the second quarter. Pacad Investment Ltd. now owns 37,421 shares of the company’s stock valued at $447,000 after buying an additional 11,237 shares during the period. Institutional investors and hedge funds own 95.21% of the company’s stock.
About Navient Corp.
Navient Corporation is a loan management, servicing and asset recovery company. The Company holds the portfolio of education loans insured or guaranteed under the Federal Family Education Loan Program (FFELP), as well as the portfolio of Private Education Loans. FFELP Loans are insured or guaranteed by state based on guaranty agreements among the United States Department of Education (ED) and these agencies.
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