TD Cowen Lowers Navient (NASDAQ:NAVI) Price Target to $13.00

Navient (NASDAQ:NAVI) had its price target decreased by TD Cowen from $14.00 to $13.00 in a research report report published on Friday, Benzinga reports. TD Cowen currently has a sell rating on the credit services provider’s stock.

NAVI has been the topic of several other reports. Keefe, Bruyette & Woods upped their price target on Navient from $15.00 to $16.00 and gave the stock a “market perform” rating in a research note on Thursday, July 25th. JPMorgan Chase & Co. upped their target price on shares of Navient from $15.00 to $16.00 and gave the stock a “neutral” rating in a research report on Monday, October 7th. Barclays lifted their price target on shares of Navient from $10.00 to $11.00 and gave the company an “underweight” rating in a research report on Tuesday, October 8th. Finally, Bank of America began coverage on shares of Navient in a report on Monday, September 30th. They issued a “neutral” rating and a $17.00 price objective on the stock. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $15.78.

Navient Trading Down 1.7 %

NASDAQ NAVI opened at $13.99 on Friday. The stock has a market cap of $1.50 billion, a P/E ratio of 20.28 and a beta of 1.39. Navient has a fifty-two week low of $13.95 and a fifty-two week high of $19.68. The stock has a 50 day simple moving average of $15.58 and a two-hundred day simple moving average of $15.28. The company has a debt-to-equity ratio of 16.59, a quick ratio of 9.99 and a current ratio of 9.49.

Navient (NASDAQ:NAVI) last announced its quarterly earnings results on Wednesday, October 30th. The credit services provider reported $1.45 EPS for the quarter, topping analysts’ consensus estimates of $0.25 by $1.20. The company had revenue of $1.22 billion during the quarter, compared to analyst estimates of $150.04 million. Navient had a return on equity of 8.62% and a net margin of 1.71%. During the same quarter last year, the firm posted $0.84 earnings per share. On average, analysts forecast that Navient will post 1.39 earnings per share for the current year.

Navient Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 20th. Shareholders of record on Friday, September 6th were issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 4.57%. The ex-dividend date of this dividend was Friday, September 6th. Navient’s payout ratio is 92.75%.

Institutional Investors Weigh In On Navient

Large investors have recently bought and sold shares of the business. Donald Smith & CO. Inc. boosted its holdings in shares of Navient by 27.8% during the 3rd quarter. Donald Smith & CO. Inc. now owns 3,581,311 shares of the credit services provider’s stock valued at $55,833,000 after acquiring an additional 779,973 shares during the last quarter. American Century Companies Inc. grew its position in Navient by 12.1% in the 2nd quarter. American Century Companies Inc. now owns 1,582,928 shares of the credit services provider’s stock worth $23,047,000 after purchasing an additional 171,160 shares during the period. Empowered Funds LLC raised its stake in Navient by 7.7% during the 1st quarter. Empowered Funds LLC now owns 391,401 shares of the credit services provider’s stock valued at $6,810,000 after buying an additional 27,997 shares during the last quarter. Edgestream Partners L.P. boosted its stake in shares of Navient by 90.9% in the 1st quarter. Edgestream Partners L.P. now owns 386,379 shares of the credit services provider’s stock worth $6,723,000 after buying an additional 183,969 shares during the last quarter. Finally, Victory Capital Management Inc. grew its holdings in shares of Navient by 0.9% in the second quarter. Victory Capital Management Inc. now owns 322,820 shares of the credit services provider’s stock worth $4,700,000 after acquiring an additional 2,991 shares during the period. 97.14% of the stock is currently owned by institutional investors.

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.