Navient (NASDAQ:NAVI) Sets New 52-Week Low on Analyst Downgrade

Navient Co. (NASDAQ:NAVI) reached a new 52-week low on Monday after TD Cowen lowered their price target on the stock from $14.00 to $13.00. TD Cowen currently has a sell rating on the stock. Navient traded as low as $13.74 and last traded at $13.76, with a volume of 40880 shares trading hands. The stock had previously closed at $13.99.

Other equities research analysts have also recently issued research reports about the stock. 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 raised their target price on Navient from $15.00 to $16.00 and gave the stock a “market perform” rating in a research note on Thursday, July 25th. Bank of America started coverage on Navient in a research note on Monday, September 30th. They issued a “neutral” rating and a $17.00 target price on the stock. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Navient from $15.00 to $16.00 and gave the company a “neutral” rating in a report on Monday, October 7th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $15.78.

Institutional Investors Weigh In On Navient

Large investors have recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC acquired a new position in shares of Navient during the first quarter worth approximately $36,000. IAG Wealth Partners LLC acquired a new position in Navient in the second quarter worth approximately $50,000. Signaturefd LLC raised its position in shares of Navient by 22.1% during the second quarter. Signaturefd LLC now owns 4,797 shares of the credit services provider’s stock worth $70,000 after purchasing an additional 869 shares during the period. nVerses Capital LLC acquired a new stake in Navient during the 3rd quarter worth about $87,000. Finally, Harbor Capital Advisors Inc. purchased a new stake in shares of Navient in the 3rd quarter valued at approximately $95,000. 97.14% of the stock is owned by institutional investors and hedge funds.

Navient Price Performance

The company has a market cap of $1.48 billion, a PE ratio of 20.28 and a beta of 1.39. The company has a debt-to-equity ratio of 16.59, a current ratio of 9.49 and a quick ratio of 9.99. The stock has a fifty day moving average price of $15.58 and a 200-day moving average price of $15.28.

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

Navient Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Shareholders of record on Friday, September 6th were paid a dividend of $0.16 per share. The ex-dividend date was Friday, September 6th. This represents a $0.64 annualized dividend and a yield of 4.65%. Navient’s dividend payout ratio is currently 92.75%.

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.