Navient Corporation (NAVI) Upgraded to “Outperform” at Credit Suisse Group
Credit Suisse Group upgraded shares of Navient Corporation (NASDAQ:NAVI) from a neutral rating to an outperform rating in a research report released on Friday, MarketBeat Ratings reports. They currently have $16.50 price objective on the credit services provider’s stock.
Several other research firms have also recently weighed in on NAVI. BidaskClub raised shares of Navient Corporation from a hold rating to a buy rating in a report on Saturday, June 17th. Jefferies Group LLC reissued a hold rating and issued a $16.00 price target on shares of Navient Corporation in a report on Friday, July 21st. Keefe, Bruyette & Woods reissued a buy rating and issued a $20.00 price target on shares of Navient Corporation in a report on Friday, July 14th. Zacks Investment Research cut shares of Navient Corporation from a hold rating to a sell rating in a report on Monday, July 17th. Finally, Compass Point raised shares of Navient Corporation from a neutral rating to a buy rating and set a $16.50 price target on the stock in a report on Tuesday, September 5th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of Hold and an average price target of $18.23.
Shares of Navient Corporation (NASDAQ NAVI) opened at 14.13 on Friday. Navient Corporation has a 52-week low of $12.66 and a 52-week high of $17.95. The company’s 50-day moving average price is $13.98 and its 200-day moving average price is $14.84. The firm has a market capitalization of $3.87 billion, a P/E ratio of 7.33 and a beta of 2.44.
Navient Corporation (NASDAQ:NAVI) last released its quarterly earnings results on Tuesday, July 18th. The credit services provider reported $0.43 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.41 by $0.02. The firm had revenue of $343 million for the quarter, compared to analysts’ expectations of $331.67 million. Navient Corporation had a net margin of 11.50% and a return on equity of 14.05%. The business’s revenue was down 15.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.47 EPS. On average, equities research analysts expect that Navient Corporation will post $1.76 EPS for the current fiscal year.
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The firm also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, September 1st will be issued a dividend of $0.16 per share. The ex-dividend date of this dividend is Wednesday, August 30th. This represents a $0.64 annualized dividend and a dividend yield of 4.53%. Navient Corporation’s dividend payout ratio is presently 33.68%.
Several institutional investors and hedge funds have recently made changes to their positions in NAVI. Bronfman E.L. Rothschild L.P. increased its holdings in shares of Navient Corporation by 1.7% during the first quarter. Bronfman E.L. Rothschild L.P. now owns 6,952 shares of the credit services provider’s stock worth $103,000 after purchasing an additional 118 shares during the period. Ameritas Investment Partners Inc. bought a new position in shares of Navient Corporation during the first quarter worth approximately $112,000. Creative Planning increased its holdings in shares of Navient Corporation by 7.2% during the second quarter. Creative Planning now owns 7,066 shares of the credit services provider’s stock worth $118,000 after purchasing an additional 472 shares during the period. Ffcm LLC increased its holdings in shares of Navient Corporation by 144.5% during the second quarter. Ffcm LLC now owns 7,071 shares of the credit services provider’s stock worth $119,000 after purchasing an additional 4,179 shares during the period. Finally, Jane Street Group LLC bought a new position in shares of Navient Corporation during the first quarter worth approximately $153,000. 92.65% of the stock is currently owned by institutional investors.
Navient Corporation Company Profile
Navient Corporation provides asset management and business processing services to education, healthcare and government clients at the federal, state and local levels. The Company holds the portfolio of education loans insured or federally guaranteed under the Federal Family Education Loan Program (FFELP).
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