SLM Corporation (SLM) Lowered to “Strong Sell” at BidaskClub
BidaskClub lowered shares of SLM Corporation (NASDAQ:SLM) from a sell rating to a strong sell rating in a research report released on Friday morning.
A number of other research analysts have also recently issued reports on the company. Zacks Investment Research raised SLM Corporation from a sell rating to a hold rating in a research note on Thursday. BMO Capital Markets reissued a hold rating and issued a $12.00 target price on shares of SLM Corporation in a research note on Friday, October 6th. FBR & Co restated a buy rating and issued a $13.00 price target on shares of SLM Corporation in a report on Tuesday, September 19th. Wedbush restated an outperform rating and issued a $14.50 price target on shares of SLM Corporation in a report on Thursday, September 14th. Finally, Jefferies Group LLC restated a buy rating and issued a $15.00 price target on shares of SLM Corporation in a report on Saturday, July 22nd. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the company. SLM Corporation has an average rating of Hold and a consensus target price of $13.13.
Shares of SLM Corporation (NASDAQ:SLM) traded up 1.48% during midday trading on Friday, reaching $10.99. The company had a trading volume of 3,195,870 shares. SLM Corporation has a 52-week low of $6.93 and a 52-week high of $13.20. The firm has a market cap of $4.74 billion, a P/E ratio of 17.73 and a beta of 1.25. The company’s 50-day moving average is $10.81 and its 200-day moving average is $11.15.
SLM Corporation (NASDAQ:SLM) last posted its earnings results on Wednesday, July 19th. The credit services provider reported $0.16 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.16. SLM Corporation had a return on equity of 16.31% and a net margin of 22.81%. The firm had revenue of $269.89 million during the quarter, compared to analysts’ expectations of $268.69 million. During the same period in the previous year, the firm earned $0.12 earnings per share. The company’s revenue was up 26.8% on a year-over-year basis. Equities research analysts expect that SLM Corporation will post $0.72 EPS for the current fiscal year.
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Institutional investors have recently modified their holdings of the company. Envestnet Asset Management Inc. lifted its holdings in shares of SLM Corporation by 44.0% in the first quarter. Envestnet Asset Management Inc. now owns 8,438 shares of the credit services provider’s stock valued at $102,000 after purchasing an additional 2,578 shares in the last quarter. HighTower Advisors LLC bought a new stake in SLM Corporation during the first quarter worth about $125,000. Meeder Asset Management Inc. bought a new stake in SLM Corporation during the first quarter worth about $189,000. Oppenheimer Asset Management Inc. bought a new stake in SLM Corporation during the first quarter worth about $392,000. Finally, Teacher Retirement System of Texas raised its holdings in SLM Corporation by 2.8% during the first quarter. Teacher Retirement System of Texas now owns 34,294 shares of the credit services provider’s stock worth $415,000 after acquiring an additional 940 shares in the last quarter. Institutional investors own 98.41% of the company’s stock.
About SLM Corporation
SLM Corporation (Sallie Mae) is the nation’s saving, planning, and paying for college company. Sallie Mae offers products, which promote personal finance including private education loans, Upromise rewards, scholarship search, college financial planning tools, insurance, and online retail banking.
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