Navient (NASDAQ:NAVI) Issues FY 2024 Earnings Guidance

Navient (NASDAQ:NAVI) issued an update on its FY 2024 earnings guidance on Friday morning. The company provided EPS guidance of 1.350-1.550 for the period, compared to the consensus EPS estimate of 1.490. The company issued revenue guidance of -.

Navient Price Performance

Navient stock traded up $0.35 during mid-day trading on Friday, reaching $15.95. The company had a trading volume of 1,079,895 shares, compared to its average volume of 735,957. Navient has a 1 year low of $13.95 and a 1 year high of $19.68. The company has a debt-to-equity ratio of 17.30, a current ratio of 9.99 and a quick ratio of 12.52. The company has a market capitalization of $1.75 billion, a P/E ratio of 10.22 and a beta of 1.40. The stock’s 50-day simple moving average is $14.77 and its 200-day simple moving average is $15.91.

Navient (NASDAQ:NAVI) last issued its earnings results on Wednesday, July 24th. The credit services provider reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.14). Navient had a net margin of 3.41% and a return on equity of 11.06%. The company had revenue of $1.09 billion during the quarter, compared to analysts’ expectations of $157.27 million. During the same period last year, the business posted $0.70 earnings per share. On average, equities analysts predict that Navient will post 1.59 EPS for the current year.

Navient Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 21st. Stockholders of record on Friday, June 7th were paid a dividend of $0.16 per share. The ex-dividend date was Friday, June 7th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 4.01%. Navient’s dividend payout ratio (DPR) is 41.03%.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on NAVI shares. TD Cowen dropped their price objective on shares of Navient from $14.00 to $13.00 and set a sell rating for the company in a research note on Friday, April 26th. JPMorgan Chase & Co. dropped their price objective on shares of Navient from $16.00 to $15.00 and set a neutral rating for the company in a research note on Monday, July 8th. Barclays dropped their price objective on shares of Navient from $11.00 to $10.00 and set an underweight rating for the company in a research note on Tuesday, July 9th. Finally, Keefe, Bruyette & Woods raised their price objective on shares of Navient from $15.00 to $16.00 and gave the stock a market perform rating in a research note on Thursday. Three analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of Hold and a consensus price target of $15.80.

Insiders Place Their Bets

In other Navient news, EVP Mark L. Heleen sold 10,000 shares of Navient stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $16.00, for a total value of $160,000.00. Following the transaction, the executive vice president now owns 393,611 shares in the company, valued at approximately $6,297,776. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 27.99% of the stock is owned by corporate insiders.

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.