Navient (NASDAQ:NAVI) Releases FY 2024 Earnings Guidance

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

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on NAVI shares. TD Cowen lowered shares of Navient from a market perform rating to an underperform rating and reduced their price target for the company from $17.00 to $15.00 in a research report on Monday, January 8th. StockNews.com downgraded Navient from a buy rating to a hold rating in a report on Thursday, February 1st. Stephens cut Navient from an equal weight rating to an underweight rating and set a $16.00 target price on the stock. in a report on Tuesday, January 2nd. Barclays reiterated an underweight rating and set a $14.00 price objective (down previously from $17.00) on shares of Navient in a research report on Wednesday, January 10th. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of Navient in a report on Wednesday, January 10th. They set a hold rating and a $19.00 price objective for the company. Three research analysts have rated the stock with a sell rating and seven have issued a hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of Hold and an average price target of $16.67.

Navient Price Performance

Shares of NAVI traded down $0.64 during midday trading on Wednesday, reaching $15.96. The stock had a trading volume of 793,379 shares, compared to its average volume of 902,457. Navient has a 52 week low of $14.10 and a 52 week high of $19.69. The firm’s 50 day moving average price is $16.57 and its 200-day moving average price is $17.12. The company has a market capitalization of $1.79 billion, a P/E ratio of 9.33 and a beta of 1.38. 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 (NASDAQ:NAVI) last issued its quarterly earnings results on Wednesday, January 31st. The credit services provider reported $0.70 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.07). The company had revenue of $193.00 million for the quarter, compared to analyst estimates of $210.76 million. Navient had a return on equity of 14.17% and a net margin of 4.72%. On average, analysts forecast that Navient will post 2.12 earnings per share for the current fiscal year.

Navient Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were paid a dividend of $0.16 per share. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 4.01%. Navient’s dividend payout ratio is presently 35.96%.

Insider Transactions at Navient

In other Navient 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 transaction, the executive vice president now directly owns 385,577 shares of the company’s stock, valued at approximately $6,631,924.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 27.99% of the company’s stock.

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.