Navient Corporation (NAVI) Expected to Post Quarterly Sales of $367.00 Million
Wall Street analysts predict that Navient Corporation (NASDAQ:NAVI) will post $367.00 million in sales for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for Navient Corporation’s earnings, with estimates ranging from $361.00 million to $373.00 million. Navient Corporation posted sales of $378.00 million during the same quarter last year, which would indicate a negative year-over-year growth rate of 2.9%. The business is scheduled to issue its next quarterly earnings results on Tuesday, January 23rd.
On average, analysts expect that Navient Corporation will report full-year sales of $367.00 million for the current year, with estimates ranging from $1.38 billion to $1.44 billion. For the next fiscal year, analysts expect that the business will report sales of $1.38 billion per share, with estimates ranging from $1.35 billion to $1.41 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that cover Navient Corporation.
Navient Corporation (NASDAQ:NAVI) last announced its earnings results on Tuesday, October 17th. The credit services provider reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.50 by $0.05. Navient Corporation had a return on equity of 14.09% and a net margin of 10.88%. The company had revenue of $343.00 million for the quarter, compared to analyst estimates of $361.33 million. During the same period in the previous year, the firm earned $0.50 earnings per share. Navient Corporation’s revenue for the quarter was down 15.3% compared to the same quarter last year.
NAVI has been the topic of a number of recent research reports. BidaskClub downgraded Navient Corporation from a “buy” rating to a “hold” rating in a research note on Monday, July 24th. Jefferies Group LLC reiterated a “hold” rating and set a $16.00 price target on shares of Navient Corporation in a research note on Friday, July 21st. Zacks Investment Research upgraded Navient Corporation from a “sell” rating to a “hold” rating in a research note on Wednesday, September 13th. Compass Point downgraded Navient Corporation from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $16.50 to $15.50 in a research note on Thursday, October 5th. Finally, BMO Capital Markets reiterated a “hold” rating and set a $16.00 price target (down previously from $17.00) on shares of Navient Corporation in a research note on Thursday, July 20th. One analyst has rated the stock with a sell rating, seven have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Hold” and an average price target of $18.00.
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In related news, CFO Christian M. Lown purchased 6,000 shares of the business’s stock in a transaction dated Friday, October 20th. The shares were bought at an average price of $12.35 per share, with a total value of $74,100.00. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP John M. Kane sold 28,886 shares of the stock in a transaction on Tuesday, September 26th. The shares were sold at an average price of $15.00, for a total value of $433,290.00. The disclosure for this sale can be found here. 1.68% of the stock is currently owned by company insiders.
A number of institutional investors have recently modified their holdings of NAVI. Creative Planning raised its stake in Navient Corporation by 7.2% during the 2nd quarter. Creative Planning now owns 7,066 shares of the credit services provider’s stock worth $118,000 after buying an additional 472 shares during the period. Ffcm LLC raised its stake in shares of Navient Corporation by 144.5% in the 2nd quarter. Ffcm LLC now owns 7,071 shares of the credit services provider’s stock valued at $119,000 after purchasing an additional 4,179 shares during the period. Quantbot Technologies LP acquired a new stake in shares of Navient Corporation in the 3rd quarter valued at about $121,000. Bronfman E.L. Rothschild L.P. raised its stake in shares of Navient Corporation by 8.8% in the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 7,564 shares of the credit services provider’s stock valued at $126,000 after purchasing an additional 612 shares during the period. Finally, Advisors Asset Management Inc. grew its holdings in shares of Navient Corporation by 84.0% in the 3rd quarter. Advisors Asset Management Inc. now owns 10,168 shares of the credit services provider’s stock valued at $153,000 after acquiring an additional 4,642 shares in the last quarter. 95.76% of the stock is currently owned by institutional investors and hedge funds.
Shares of Navient Corporation (NASDAQ NAVI) traded up $0.26 during mid-day trading on Thursday, hitting $12.61. The stock had a trading volume of 5,210,500 shares, compared to its average volume of 2,829,209. Navient Corporation has a twelve month low of $11.48 and a twelve month high of $17.95. The company has a quick ratio of 33.10, a current ratio of 33.10 and a debt-to-equity ratio of 30.58. The stock has a market capitalization of $3,340.00, a P/E ratio of 6.98 and a beta of 2.35.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, December 1st will be given a $0.16 dividend. The ex-dividend date is Thursday, November 30th. This represents a $0.64 dividend on an annualized basis and a yield of 5.08%. Navient Corporation’s payout ratio is 35.16%.
Navient Corporation declared that its Board of Directors has approved a share buyback plan on Wednesday, October 4th that permits the company to repurchase outstanding shares. This repurchase authorization permits the credit services provider to purchase shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its shares are undervalued.
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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