SLM Corporation (SLM) Issues Earnings Results
SLM Corporation (NASDAQ:SLM) announced its earnings results on Wednesday. The credit services provider reported $0.17 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.17, Briefing.com reports. The business had revenue of $282.06 million for the quarter, compared to analyst estimates of $282.02 million. SLM Corporation had a return on equity of 16.31% and a net margin of 22.81%. The company’s quarterly revenue was up 26.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.12 EPS. SLM Corporation updated its FY17 guidance to approx $0.72 EPS.
Shares of SLM Corporation (NASDAQ:SLM) traded up 1.87% during midday trading on Wednesday, reaching $11.47. The company had a trading volume of 2,581,192 shares. The firm has a market capitalization of $4.95 billion, a price-to-earnings ratio of 18.50 and a beta of 1.25. The stock has a 50-day moving average of $10.82 and a 200 day moving average of $11.13. SLM Corporation has a 52 week low of $6.93 and a 52 week high of $13.20.
Several brokerages have recently commented on SLM. Zacks Investment Research upgraded SLM Corporation from a “hold” rating to a “strong-buy” rating and set a $13.00 price objective on the stock in a research report on Monday, July 17th. Wedbush reiterated an “outperform” rating and set a $10.98 price objective (down from $14.50) on shares of SLM Corporation in a research report on Friday, July 21st. FBR & Co reduced their price objective on SLM Corporation from $14.00 to $13.00 and set an “outperform” rating on the stock in a research report on Friday, July 21st. Finally, Jefferies Group LLC reiterated a “buy” rating and set a $15.00 price objective on shares of SLM Corporation in a research report on Friday, July 14th. Two analysts have rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $13.44.
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SLM Corporation Company Profile
SLM Corporation (Sallie Mae) is the nation’s saving, planning, and paying for college company. Sallie Mae offers products, which promote personal finance including private education loans, Upromise rewards, scholarship search, college financial planning tools, insurance, and online retail banking.
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