Navient (NASDAQ:NAVI – Get Free Report) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of 1.550-1.750 for the period, compared to the consensus estimate of 2.110. The company issued revenue guidance of -.
Analyst Upgrades and Downgrades
A number of equities analysts have recently weighed in on NAVI shares. JPMorgan Chase & Co. lowered their price target on shares of Navient from $17.00 to $16.00 and set a neutral rating on the stock in a research note on Thursday. Stephens downgraded shares of Navient from an equal weight rating to an underweight rating and set a $16.00 price target for the company. in a research report on Tuesday, January 2nd. StockNews.com cut Navient from a buy rating to a hold rating in a report on Thursday, February 1st. Citigroup lifted their price objective on Navient from $17.00 to $18.00 and gave the stock a neutral rating in a report on Thursday, February 1st. Finally, TD Cowen lowered their target price on Navient from $14.00 to $13.00 and set a sell rating on the stock in a report on Friday. Three research analysts have rated the stock with a sell rating and eight have issued a hold rating to the stock. Based on data from MarketBeat, Navient currently has an average rating of Hold and a consensus price target of $16.10.
Get Our Latest Analysis on NAVI
Navient Stock Performance
Navient (NASDAQ:NAVI – Get Free Report) last released its earnings results on Wednesday, April 24th. The credit services provider reported $0.63 EPS for the quarter, beating the consensus estimate of $0.58 by $0.05. Navient had a return on equity of 12.09% and a net margin of 3.93%. The firm had revenue of $163.00 million during the quarter, compared to analyst estimates of $188.04 million. On average, equities research analysts anticipate that Navient will post 1.65 earnings per share for the current fiscal year.
Navient Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were given a $0.16 dividend. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $0.64 annualized dividend and a dividend yield of 4.06%. Navient’s dividend payout ratio is presently 41.03%.
Insider Buying and Selling
In other news, EVP Mark L. Heleen sold 10,000 shares of the firm’s stock in a transaction on Wednesday, January 31st. The shares were sold at an average price of $17.20, for a total value of $172,000.00. Following the transaction, the executive vice president now owns 385,577 shares of the company’s stock, valued at approximately $6,631,924.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 27.99% of the stock is currently owned by company insiders.
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.
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