Navient Co. (NASDAQ:NAVI – Get Rating) – Equities researchers at Jefferies Financial Group dropped their Q3 2023 earnings estimates for shares of Navient in a note issued to investors on Wednesday, April 26th. Jefferies Financial Group analyst J. Hecht now expects that the credit services provider will post earnings per share of $0.71 for the quarter, down from their previous forecast of $0.76. The consensus estimate for Navient’s current full-year earnings is $3.21 per share. Jefferies Financial Group also issued estimates for Navient’s Q1 2024 earnings at $0.76 EPS, Q3 2024 earnings at $0.89 EPS, Q4 2024 earnings at $0.92 EPS and FY2024 earnings at $3.33 EPS.
Several other research analysts have also weighed in on the stock. Keefe, Bruyette & Woods reduced their price objective on shares of Navient from $19.00 to $18.00 and set a “market perform” rating on the stock in a research note on Tuesday, April 11th. Citigroup cut their price target on shares of Navient from $19.00 to $17.00 in a research note on Tuesday, April 18th. JPMorgan Chase & Co. cut their price target on shares of Navient from $18.00 to $16.00 and set an “underweight” rating on the stock in a research note on Monday, April 17th. Morgan Stanley cut their price target on shares of Navient from $19.00 to $17.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 5th. Finally, StockNews.com assumed coverage on shares of Navient in a research note on Thursday, March 16th. They issued a “hold” rating on the stock. One research analyst has rated the stock with a sell rating and seven have assigned a hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $17.30.
Navient Stock Up 0.8 %
Navient stock opened at $16.55 on Friday. The company’s 50 day simple moving average is $16.59 and its 200 day simple moving average is $16.63. Navient has a fifty-two week low of $12.45 and a fifty-two week high of $19.34. The firm has a market capitalization of $2.10 billion, a price-to-earnings ratio of 3.74 and a beta of 1.52. The company has a debt-to-equity ratio of 19.40, a current ratio of 10.99 and a quick ratio of 11.42.
Navient (NASDAQ:NAVI – Get Rating) last released its quarterly earnings data on Wednesday, April 26th. The credit services provider reported $1.06 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.18. Navient had a net margin of 12.07% and a return on equity of 16.24%. The business had revenue of $1.16 billion for the quarter, compared to analyst estimates of $230.68 million. During the same quarter last year, the firm earned $0.90 EPS.
Navient Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 17th. Stockholders of record on Friday, March 3rd were issued a $0.16 dividend. The ex-dividend date was Thursday, March 2nd. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.87%. Navient’s dividend payout ratio (DPR) is presently 14.48%.
Institutional Trading of Navient
A number of hedge funds and other institutional investors have recently made changes to their positions in NAVI. Lazard Asset Management LLC acquired a new stake in shares of Navient in the third quarter valued at approximately $27,000. Signaturefd LLC raised its holdings in shares of Navient by 89.2% in the third quarter. Signaturefd LLC now owns 2,937 shares of the credit services provider’s stock valued at $43,000 after purchasing an additional 1,385 shares during the last quarter. State of Wyoming acquired a new stake in shares of Navient in the fourth quarter valued at approximately $62,000. Covestor Ltd raised its holdings in shares of Navient by 87.4% in the first quarter. Covestor Ltd now owns 5,042 shares of the credit services provider’s stock valued at $86,000 after purchasing an additional 2,352 shares during the last quarter. Finally, Wipfli Financial Advisors LLC acquired a new position in Navient during the third quarter worth $88,000. 70.48% of the stock is currently owned by institutional investors and hedge funds.
Navient Company Profile
Navient Corp. engages in the provision of asset management and business processing solutions for education, healthcare and government clients at the federal, state and local levels. It operates through the following segments: Federal Education Loans, Consumer Lending, Business Processing and Other. The Federal Education Loans segment owns FFELP Loans and performs servicing and asset recovery services on FFELP Loan portfolio.
See Also
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Navient, you’ll want to hear this.
MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and Navient wasn’t on the list.
While Navient currently has a “Hold” rating among analysts, top-rated analysts believe these five stocks are better buys.
Source: marketbeat.com
