Q2 2024 EPS Estimates for Navient Co. Decreased by Seaport Res Ptn (NASDAQ:NAVI)

Navient Co. (NASDAQ:NAVI) – Seaport Res Ptn lowered their Q2 2024 earnings per share (EPS) estimates for Navient in a research report issued 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 previous forecast 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) last announced its earnings results on Wednesday, April 24th. The credit services provider reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.05. The company had revenue of $163.00 million for the quarter, compared to the consensus estimate of $188.04 million. Navient had a net margin of 3.93% and a return on equity of 12.09%.

Several other research analysts have also weighed in on the stock. Keefe, Bruyette & Woods dropped their price objective on shares of Navient from $19.00 to $17.00 and set a “market perform” rating on the stock in a research note on Thursday, April 25th. TD Cowen cut their price objective on Navient from $14.00 to $13.00 and set a “sell” rating for the company in a report on Friday, April 26th. JPMorgan Chase & Co. lowered their target price on Navient from $17.00 to $16.00 and set a “neutral” rating on the stock in a research note on Thursday, April 25th. Deutsche Bank Aktiengesellschaft began coverage on shares of Navient in a research report on Wednesday, January 10th. They issued a “hold” rating and a $19.00 target price for the company. Finally, StockNews.com lowered shares of Navient from a “buy” rating to a “hold” rating in a research note on Thursday, February 1st. Three equities research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $16.10.

Navient Trading Up 2.7 %

NASDAQ:NAVI opened at $15.42 on Wednesday. The company has a debt-to-equity ratio of 18.38, a current ratio of 12.52 and a quick ratio of 12.52. The stock has a market cap of $1.72 billion, a PE 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 fifty-two week low of $14.10 and a fifty-two week high of $19.69.

Navient Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 4.15%. The ex-dividend date was Thursday, February 29th. Navient’s dividend payout ratio is currently 41.03%.

Institutional Trading of Navient

Hedge funds have recently modified their holdings of the company. PNC Financial Services Group Inc. boosted its stake in shares of Navient by 13.1% in the 3rd quarter. PNC Financial Services Group Inc. now owns 5,236 shares of the credit services provider’s stock valued at $90,000 after purchasing an additional 607 shares in the last quarter. Pathstone Family Office LLC boosted its position in Navient by 9.8% in the third quarter. Pathstone Family Office LLC now owns 11,542 shares of the credit services provider’s stock valued at $199,000 after buying an additional 1,029 shares in the last quarter. Swiss National Bank grew its stake in Navient by 0.6% during the third quarter. Swiss National Bank now owns 208,500 shares of the credit services provider’s stock worth $3,590,000 after buying an additional 1,300 shares during the last quarter. Meritage Portfolio Management increased its holdings in shares of Navient by 5.5% during the third quarter. Meritage Portfolio Management now owns 29,612 shares of the credit services provider’s stock worth $510,000 after buying an additional 1,540 shares in the last quarter. Finally, CWM LLC raised its stake in shares of Navient by 314.6% in the third quarter. CWM LLC now owns 2,193 shares of the credit services provider’s stock valued at $38,000 after acquiring an additional 1,664 shares during the last quarter. Institutional investors own 97.14% of the company’s stock.

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.