Navient Co. (NASDAQ:NAVI) Given Average Rating of “Reduce” by Brokerages

Shares of Navient Co. (NASDAQ:NAVI) have been given an average recommendation of “Reduce” by the nine analysts that are presently covering the company, Marketbeat reports. Three analysts have rated the stock with a sell rating and six have issued a hold rating on the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $15.78.

A number of brokerages recently issued reports on NAVI. JPMorgan Chase & Co. increased their price target on shares of Navient from $15.00 to $16.00 and gave the stock a “neutral” rating in a report on Monday, October 7th. Barclays upped their price target on shares of Navient from $10.00 to $11.00 and gave the stock an “underweight” rating in a research report on Tuesday, October 8th. Keefe, Bruyette & Woods lifted their price objective on Navient from $15.00 to $16.00 and gave the stock a “market perform” rating in a report on Thursday, July 25th. Finally, Bank of America assumed coverage on Navient in a research report on Monday, September 30th. They issued a “neutral” rating and a $17.00 target price on the stock.

Navient Stock Performance

Shares of NASDAQ NAVI opened at $15.53 on Friday. The company’s fifty day moving average price is $15.57 and its 200 day moving average price is $15.42. Navient has a 1 year low of $13.95 and a 1 year high of $19.68. The company has a market capitalization of $1.74 billion, a PE ratio of 9.96 and a beta of 1.39. The company has a debt-to-equity ratio of 17.30, a quick ratio of 9.99 and a current ratio of 9.99.

Navient (NASDAQ:NAVI) last announced its quarterly 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 return on equity of 11.06% and a net margin of 3.41%. The firm had revenue of $1.09 billion for the quarter, compared to analysts’ expectations of $157.27 million. During the same period last year, the company posted $0.70 earnings per share. On average, research analysts predict that Navient will post 1.36 earnings per share for the current year.

Navient Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Friday, September 6th were given a dividend of $0.16 per share. The ex-dividend date was Friday, September 6th. This represents a $0.64 annualized dividend and a dividend yield of 4.12%. Navient’s payout ratio is 41.03%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of NAVI. Allspring Global Investments Holdings LLC acquired a new stake in shares of Navient during the 1st quarter worth approximately $36,000. IAG Wealth Partners LLC acquired a new stake in shares of Navient during the 2nd quarter worth approximately $50,000. Signaturefd LLC increased its holdings in shares of Navient by 22.1% during the 2nd quarter. Signaturefd LLC now owns 4,797 shares of the credit services provider’s stock worth $70,000 after buying an additional 869 shares during the last quarter. Covestor Ltd increased its holdings in shares of Navient by 23.1% during the 1st quarter. Covestor Ltd now owns 6,245 shares of the credit services provider’s stock worth $109,000 after buying an additional 1,173 shares during the last quarter. Finally, Point72 Hong Kong Ltd acquired a new stake in shares of Navient during the 2nd quarter worth approximately $121,000. Institutional investors and hedge funds own 97.14% of the company’s stock.

About Navient

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.