Navient Co. (NASDAQ:NAVI - Free Report) - Analysts at Seaport Res Ptn lowered their Q2 2024 earnings per share estimates for Navient in a research report issued to clients and investors on Monday, April 29th. Seaport Res Ptn analyst W. Ryan now expects that the credit services provider will earn $0.48 per share for the quarter, down from their prior estimate of $0.57. The consensus estimate for Navient's current full-year earnings is $1.64 per share. Seaport Res Ptn also issued estimates for Navient's Q3 2024 earnings at $0.33 EPS, Q4 2024 earnings at $0.53 EPS and FY2024 earnings at $1.97 EPS.
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 analysts' consensus estimates of $0.58 by $0.05. The firm had revenue of $163.00 million for the quarter, compared to analysts' expectations of $188.04 million. Navient had a return on equity of 12.09% and a net margin of 3.93%.
Other analysts have also issued research reports about the company. Stephens lowered Navient from an "equal weight" rating to an "underweight" rating and set a $16.00 price target for the company. in a report on Tuesday, January 2nd. Keefe, Bruyette & Woods lowered their price target on Navient from $19.00 to $17.00 and set a "market perform" rating for the company in a report on Thursday, April 25th. JPMorgan Chase & Co. lowered their price target on Navient from $17.00 to $16.00 and set a "neutral" rating for the company in a report on Thursday, April 25th. Citigroup boosted their price target on Navient from $17.00 to $18.00 and gave the company a "neutral" rating in a report on Thursday, February 1st. Finally, Deutsche Bank Aktiengesellschaft began coverage on Navient in a report on Wednesday, January 10th. They issued a "hold" rating and a $19.00 price target for the company. Three research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $16.10.
Read Our Latest Stock Analysis on Navient
Navient Trading Up 2.7 %
Shares of NAVI traded up $0.40 during mid-day trading on Wednesday, reaching $15.42. 918,631 shares of the company's stock traded hands, compared to its average volume of 934,840. The stock has a market cap of $1.72 billion, a P/E ratio of 9.88 and a beta of 1.38. The stock's 50-day moving average is $16.49 and its two-hundred day moving average is $17.04. Navient has a 12 month low of $14.10 and a 12 month high of $19.69. The company has a debt-to-equity ratio of 18.38, a current ratio of 12.52 and a quick ratio of 12.52.
Institutional Investors Weigh In On Navient
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Donald Smith & CO. Inc. boosted its holdings in shares of Navient by 31.5% in the 4th quarter. Donald Smith & CO. Inc. now owns 3,586,501 shares of the credit services provider's stock valued at $66,781,000 after buying an additional 858,890 shares during the period. American Century Companies Inc. raised its position in shares of Navient by 7.4% during the 3rd quarter. American Century Companies Inc. now owns 1,138,526 shares of the credit services provider's stock worth $19,605,000 after buying an additional 78,186 shares in the last quarter. Bridgeway Capital Management LLC raised its position in shares of Navient by 8.8% during the 4th quarter. Bridgeway Capital Management LLC now owns 811,826 shares of the credit services provider's stock worth $15,116,000 after buying an additional 65,576 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd bought a new stake in shares of Navient in the 4th quarter worth approximately $13,546,000. Finally, Invesco Ltd. raised its holdings in shares of Navient by 14.5% in the 3rd quarter. Invesco Ltd. now owns 704,608 shares of the credit services provider's stock worth $12,133,000 after purchasing an additional 89,220 shares in the last quarter. Hedge funds and other institutional investors own 97.14% of the company's stock.
Navient Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were given a dividend of $0.16 per share. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $0.64 dividend on an annualized basis and a yield of 4.15%. Navient's dividend payout ratio (DPR) is currently 41.03%.
About Navient
(
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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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