Navient Corporation (NAVI) Upgraded at Zacks Investment Research
Navient Corporation (NASDAQ:NAVI) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Wednesday.
According to Zacks, “Navient’s shares have underperformed the industry over the past year. The company does not have an impressive earnings surprise history. It missed the Zacks Consensus Estimate for earnings in two of the trailing four quarters. Also, the U.S. student loan industry is currently under heightened regulatory scrutiny over alleged anti-consumer practices. Navient, which services large number of student loans, is under regulatory claims and litigation burden owing to its practices in handling loans. However, it benefits from the ongoing economic recovery and remains focused on leveraging its asset recovery & processing businesses. Further, we remain encouraged as the company remains focused on growth opportunities to boost overall business.”
Several other equities analysts also recently weighed in on the company. BidaskClub upgraded Navient Corporation from a “hold” rating to a “buy” rating in a research report on Saturday, June 17th. Jefferies Group LLC reiterated a “buy” rating on shares of Navient Corporation in a research report on Monday, June 12th. Credit Suisse Group upgraded Navient Corporation from a “neutral” rating to an “outperform” rating and set a $16.50 target price on the stock in a research report on Friday, September 8th. ValuEngine upgraded Navient Corporation from a “buy” rating to a “strong-buy” rating in a research report on Friday, June 16th. Finally, Stifel Nicolaus increased their target price on Navient Corporation from $24.00 to $26.00 and gave the stock a “hold” rating in a research report on Monday, June 12th. One analyst has rated the stock with a sell rating, six have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $18.23.
Shares of Navient Corporation (NASDAQ NAVI) traded up 0.76% during mid-day trading on Wednesday, reaching $14.53. 847,531 shares of the company traded hands. Navient Corporation has a 52-week low of $12.66 and a 52-week high of $17.95. The company’s 50 day moving average is $13.99 and its 200 day moving average is $14.83. The stock has a market capitalization of $3.98 billion, a price-to-earnings ratio of 7.53 and a beta of 2.44.
Navient Corporation (NASDAQ:NAVI) last released its earnings results on Tuesday, July 18th. The credit services provider reported $0.43 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.41 by $0.02. Navient Corporation had a return on equity of 14.05% and a net margin of 11.50%. The firm had revenue of $343.00 million for the quarter, compared to the consensus estimate of $331.67 million. During the same period in the prior year, the business posted $0.47 earnings per share. The firm’s revenue for the quarter was down 15.9% compared to the same quarter last year. On average, equities analysts forecast that Navient Corporation will post $1.76 earnings per share for the current year.
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Several institutional investors have recently added to or reduced their stakes in the company. W. E. Donoghue & Co. LLC purchased a new position in shares of Navient Corporation in the 2nd quarter worth about $17,303,000. Toronto Dominion Bank raised its holdings in shares of Navient Corporation by 22.8% in the 2nd quarter. Toronto Dominion Bank now owns 96,600 shares of the credit services provider’s stock worth $1,609,000 after purchasing an additional 17,937 shares during the period. Advisory Services Network LLC raised its holdings in shares of Navient Corporation by 25.3% in the 2nd quarter. Advisory Services Network LLC now owns 19,860 shares of the credit services provider’s stock worth $331,000 after purchasing an additional 4,006 shares during the period. North Star Asset Management Inc. raised its holdings in shares of Navient Corporation by 2.5% in the 2nd quarter. North Star Asset Management Inc. now owns 543,133 shares of the credit services provider’s stock worth $9,043,000 after purchasing an additional 13,460 shares during the period. Finally, Koch Industries Inc. purchased a new position in shares of Navient Corporation in the 2nd quarter worth about $407,000. Institutional investors own 92.65% of the company’s stock.
About Navient Corporation
Navient Corporation provides asset management and business processing services to education, healthcare and government clients at the federal, state and local levels. The Company holds the portfolio of education loans insured or federally guaranteed under the Federal Family Education Loan Program (FFELP).
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