Navient (NASDAQ:NAVI) Issues FY 2024 Earnings Guidance

Navient (NASDAQ:NAVI - Get Free Report) updated its FY 2024 earnings guidance on Wednesday. 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 -.

Navient Stock Down 3.1 %

Shares of NAVI traded down $0.51 on Wednesday, reaching $16.09. The stock had a trading volume of 2,249,412 shares, compared to its average volume of 921,282. The firm has a market capitalization of $1.80 billion, a price-to-earnings ratio of 8.97 and a beta of 1.38. The company has a debt-to-equity ratio of 19.35, a quick ratio of 13.63 and a current ratio of 13.64. The company has a 50-day simple moving average of $16.57 and a 200-day simple moving average of $17.12. Navient has a 12-month low of $14.10 and a 12-month high of $19.69.

Navient (NASDAQ:NAVI - Get Free Report) last released its earnings results on Wednesday, January 31st. The credit services provider reported $0.70 EPS for the quarter, missing analysts' consensus estimates of $0.77 by ($0.07). The firm had revenue of $193.00 million during the quarter, compared to analysts' expectations of $210.76 million. Navient had a net margin of 4.72% and a return on equity of 14.17%. Sell-side analysts predict that Navient will post 2.12 EPS for the current year.

Navient Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were paid a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 3.98%. The ex-dividend date was Thursday, February 29th. Navient's dividend payout ratio is currently 35.96%.

Wall Street Analyst Weigh In

Several analysts recently commented on NAVI shares. Stephens lowered Navient from an equal weight rating to an underweight rating and set a $16.00 price objective for the company. in a report on Tuesday, January 2nd. Deutsche Bank Aktiengesellschaft began coverage on Navient in a report on Wednesday, January 10th. They set a hold rating and a $19.00 price target for the company. JPMorgan Chase & Co. raised Navient from an underweight rating to a neutral rating and cut their price target for the company from $18.00 to $17.00 in a report on Wednesday, April 3rd. StockNews.com lowered Navient from a buy rating to a hold rating in a research note on Thursday, February 1st. Finally, Barclays reaffirmed an underweight rating and issued a $14.00 price objective (down previously from $17.00) on shares of Navient in a research note on Wednesday, January 10th. Three equities research analysts have rated the stock with a sell rating and seven have given a hold rating to the stock. According to MarketBeat.com, Navient presently has an average rating of Hold and an average price target of $16.67.

Insider Buying and Selling

In related news, EVP Mark L. Heleen sold 10,000 shares of the stock in a transaction that occurred on Wednesday, January 31st. The stock was 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 $6,631,924.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 27.99% of the stock is owned by 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.