Navient (NASDAQ:NAVI) Updates FY 2024 Earnings Guidance

Navient (NASDAQ:NAVI) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share guidance of 1.550-1.750 for the period, compared to the consensus earnings per share estimate of 2.110. The company issued revenue guidance of -.

Analysts Set New Price Targets

A number of brokerages recently issued reports on NAVI. Citigroup boosted their price objective on shares of Navient from $17.00 to $18.00 and gave the company a neutral rating in a report on Thursday, February 1st. Stephens cut shares of 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. Barclays reduced their price target on shares of Navient from $13.00 to $11.00 and set an underweight rating for the company in a report on Thursday. Keefe, Bruyette & Woods reduced their price target on shares of Navient from $19.00 to $17.00 and set a market perform rating for the company in a report on Thursday. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Navient in a research report on Wednesday, January 10th. They issued a hold rating and a $19.00 price objective on the stock. Three research analysts have rated the stock with a sell rating and eight have given a hold rating to the stock. According to MarketBeat, the stock currently has an average rating of Hold and a consensus price target of $16.10.

Navient Stock Performance

NASDAQ NAVI traded down $0.04 on Friday, hitting $15.72. 766,480 shares of the stock were exchanged, compared to its average volume of 850,227. The company has a debt-to-equity ratio of 18.38, a current ratio of 12.52 and a quick ratio of 13.63. The business’s fifty day moving average is $16.54 and its 200 day moving average is $17.09. Navient has a 52 week low of $14.10 and a 52 week high of $19.69. The company has a market capitalization of $1.76 billion, a PE ratio of 10.08 and a beta of 1.38.

Navient (NASDAQ:NAVI) last issued its quarterly earnings data on Wednesday, April 24th. The credit services provider reported $0.63 earnings per share 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 analyst estimates of $188.04 million. Navient had a net margin of 3.93% and a return on equity of 12.09%. Research analysts anticipate that Navient will post 1.74 EPS for the current fiscal year.

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 $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 4.07%. The ex-dividend date of this dividend was Thursday, February 29th. Navient’s payout ratio is presently 41.03%.

Insider Activity

In related 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 transaction, the executive vice president now directly owns 385,577 shares in the company, valued at $6,631,924.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 27.99% 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.