Navient (NASDAQ:NAVI) Releases FY 2024 Earnings Guidance

Navient (NASDAQ:NAVI) updated its FY 2024 earnings guidance on Wednesday. The company provided EPS guidance of 1.550-1.750 for the period, compared to the consensus EPS estimate of 2.110. The company issued revenue guidance of -.

Wall Street Analyst Weigh In

Several research firms have weighed in on NAVI. Deutsche Bank Aktiengesellschaft began coverage on shares of Navient in a research report on Wednesday, January 10th. They issued a hold rating and a $19.00 price objective for the company. Barclays restated an underweight rating and issued a $14.00 price objective (down previously from $17.00) on shares of Navient in a research report on Wednesday, January 10th. JPMorgan Chase & Co. upgraded shares of Navient from an underweight rating to a neutral rating and lowered their price objective for the company from $18.00 to $17.00 in a research report on Wednesday, April 3rd. TD Cowen cut shares of Navient from a market perform rating to an underperform rating and lowered their price objective for the company from $17.00 to $15.00 in a research report on Monday, January 8th. Finally, StockNews.com cut shares of Navient from a buy rating to a hold rating in a research report on Thursday, February 1st. Three analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company. According to data from MarketBeat, Navient currently has a consensus rating of Hold and an average price target of $16.67.

Navient Stock Down 3.1 %

NAVI traded down $0.51 during trading on Wednesday, reaching $16.09. The company had a trading volume of 2,249,432 shares, compared to its average volume of 921,282. The company has a debt-to-equity ratio of 19.35, a current ratio of 13.64 and a quick ratio of 13.63. Navient has a 12 month low of $14.10 and a 12 month high of $19.69. The business’s fifty day moving average price is $16.57 and its 200 day moving average price is $17.12. The company has a market cap of $1.80 billion, a P/E ratio of 8.97 and a beta of 1.38.

Navient (NASDAQ:NAVI) last announced its quarterly earnings results on Wednesday, January 31st. The credit services provider reported $0.70 earnings per share for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.07). Navient had a net margin of 4.72% and a return on equity of 14.17%. The company had revenue of $193.00 million during the quarter, compared to the consensus estimate of $210.76 million. Equities analysts anticipate that Navient will post 2.12 EPS for the current year.

Navient Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were given a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.98%. The ex-dividend date of this dividend was Thursday, February 29th. Navient’s dividend payout ratio is presently 35.96%.

Insider Transactions at Navient

In other news, EVP Mark L. Heleen sold 10,000 shares of the business’s stock in a transaction on Wednesday, January 31st. The shares were sold at an average price of $17.20, for a total value of $172,000.00. Following the sale, the executive vice president now owns 385,577 shares of the company’s stock, valued at $6,631,924.40. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 27.99% of the stock is currently owned by insiders.

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.