Navient (NAVI) to Release Quarterly Earnings on Wednesday

Navient (NASDAQ:NAVI) will be announcing its earnings results before the market opens on Wednesday, April 24th. Analysts expect the company to announce earnings of $0.60 per share for the quarter. Navient has set its FY 2024 guidance at 2.100-2.300 EPS.Investors that are interested in participating in the company’s conference call can do so using this link.

Navient (NASDAQ:NAVI) last issued its quarterly earnings results on Wednesday, January 31st. The credit services provider reported $0.70 earnings per share for the quarter, missing the consensus estimate of $0.77 by ($0.07). The business had revenue of $193.00 million during the quarter, compared to analyst estimates of $210.76 million. Navient had a net margin of 4.72% and a return on equity of 14.17%. On average, analysts expect Navient to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Navient Trading Down 0.3 %

Shares of NAVI opened at $16.21 on Monday. The stock has a fifty day moving average of $16.56 and a two-hundred day moving average of $17.13. 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 market capitalization of $1.82 billion, a PE ratio of 9.11 and a beta of 1.38. Navient has a fifty-two week low of $14.10 and a fifty-two week high of $19.69.

Navient Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were issued a dividend of $0.16 per share. The ex-dividend date was Thursday, February 29th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.95%. Navient’s payout ratio is 35.96%.

Insider Buying and Selling at Navient

In other Navient news, EVP Mark L. Heleen sold 10,000 shares of the company’s stock in a transaction dated Wednesday, January 31st. The shares were sold at an average price of $17.20, for a total value of $172,000.00. Following the completion of the transaction, the executive vice president now directly owns 385,577 shares of the company’s stock, valued at approximately $6,631,924.40. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 26.93% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Navient

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD boosted its position in Navient by 2.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 74,440 shares of the credit services provider’s stock valued at $1,387,000 after buying an additional 1,466 shares during the last quarter. GSA Capital Partners LLP purchased a new position in Navient in the 4th quarter valued at about $488,000. Mercer Global Advisors Inc. ADV boosted its position in Navient by 29.6% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 19,530 shares of the credit services provider’s stock valued at $364,000 after buying an additional 4,462 shares during the last quarter. Barclays PLC lifted its position in shares of Navient by 95.4% during the fourth quarter. Barclays PLC now owns 150,037 shares of the credit services provider’s stock worth $2,794,000 after purchasing an additional 73,271 shares during the last quarter. Finally, Public Sector Pension Investment Board lifted its position in shares of Navient by 62.3% during the fourth quarter. Public Sector Pension Investment Board now owns 175,663 shares of the credit services provider’s stock worth $3,271,000 after purchasing an additional 67,449 shares during the last quarter. 97.14% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

NAVI has been the subject of a number of research analyst reports. JPMorgan Chase & Co. upgraded Navient from an “underweight” rating to a “neutral” rating and dropped their price objective for the stock from $18.00 to $17.00 in a report on Wednesday, April 3rd. Stephens downgraded 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 initiated coverage on Navient in a report on Wednesday, January 10th. They set a “hold” rating and a $19.00 price objective for the company. StockNews.com downgraded Navient from a “buy” rating to a “hold” rating in a report on Thursday, February 1st. Finally, TD Cowen downgraded Navient from a “market perform” rating to an “underperform” rating and dropped their price objective for the stock from $17.00 to $15.00 in a report on Monday, January 8th. Three equities research analysts have rated the stock with a sell rating and seven have given a hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $16.67.

Navient Company Profile

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.