Zacks Investment Research Upgrades Navient Corporation (NAVI) to “Hold”
Zacks Investment Research upgraded shares of Navient Corporation (NASDAQ:NAVI) from a sell rating to a hold rating in a report published on Tuesday morning.
According to Zacks, “Navient’s shares have underperformed the industry over the last six months. 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.”
A number of other analysts have also recently commented on NAVI. Keefe, Bruyette & Woods reiterated a buy rating and set a $20.00 target price on shares of Navient Corporation in a research report on Friday, July 14th. BidaskClub lowered Navient Corporation from a hold rating to a sell rating in a report on Saturday, August 5th. BMO Capital Markets reaffirmed a hold rating and issued a $16.00 price objective (down previously from $17.00) on shares of Navient Corporation in a report on Thursday, July 20th. Stifel Nicolaus lifted their price objective on Navient Corporation from $24.00 to $26.00 and gave the company a hold rating in a report on Monday, June 12th. Finally, ValuEngine raised Navient Corporation from a buy rating to a strong-buy rating in a research note on Friday, June 16th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of Hold and a consensus price target of $18.23.
Navient Corporation (NAVI) traded up 5.35% on Tuesday, hitting $14.78. The stock had a trading volume of 2,810,096 shares. The company has a market cap of $4.05 billion, a P/E ratio of 7.66 and a beta of 2.44. Navient Corporation has a 52-week low of $12.66 and a 52-week high of $17.95. The firm’s 50-day moving average is $13.88 and its 200-day moving average is $14.78.
Navient Corporation (NASDAQ:NAVI) last posted its quarterly earnings results on Tuesday, July 18th. The credit services provider reported $0.43 earnings per share for the quarter, beating the Zacks’ 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 company had revenue of $343.00 million for the quarter, compared to analysts’ expectations of $331.67 million. During the same period last year, the firm earned $0.47 earnings per share. Navient Corporation’s quarterly revenue was down 15.9% on a year-over-year basis. Equities research analysts anticipate that Navient Corporation will post $1.76 earnings per share for the current fiscal year.
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The company also recently declared a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Friday, September 1st were paid a $0.16 dividend. The ex-dividend date of this dividend was Wednesday, August 30th. This represents a $0.64 annualized dividend and a dividend yield of 4.33%. Navient Corporation’s payout ratio is currently 33.68%.
Several large investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in shares of Navient Corporation by 4.3% during the first quarter. Vanguard Group Inc. now owns 39,295,006 shares of the credit services provider’s stock valued at $579,995,000 after acquiring an additional 1,606,973 shares during the period. BlackRock Inc. boosted its holdings in Navient Corporation by 2,615.0% during the first quarter. BlackRock Inc. now owns 21,395,479 shares of the credit services provider’s stock worth $315,797,000 after buying an additional 20,607,439 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Navient Corporation by 1.3% during the second quarter. Dimensional Fund Advisors LP now owns 9,130,065 shares of the credit services provider’s stock worth $152,017,000 after buying an additional 113,420 shares in the last quarter. Prudential Financial Inc. boosted its holdings in Navient Corporation by 446.1% during the second quarter. Prudential Financial Inc. now owns 5,696,350 shares of the credit services provider’s stock worth $94,845,000 after buying an additional 4,653,171 shares in the last quarter. Finally, LSV Asset Management boosted its holdings in Navient Corporation by 6.3% during the second quarter. LSV Asset Management now owns 5,429,642 shares of the credit services provider’s stock worth $90,403,000 after buying an additional 319,939 shares in the last quarter. Institutional investors own 93.02% 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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