Zacks: Analysts Anticipate Navient Corp (NAVI) Will Post Earnings of $0.42 Per Share
Wall Street brokerages forecast that Navient Corp (NASDAQ:NAVI) will post earnings per share of $0.42 for the current quarter, according to Zacks. Two analysts have made estimates for Navient’s earnings. The highest EPS estimate is $0.43 and the lowest is $0.41. Navient posted earnings per share of $0.43 in the same quarter last year, which suggests a negative year-over-year growth rate of 2.3%. The company is scheduled to announce its next quarterly earnings results on Tuesday, January 23rd.
Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side research analysts that cover Navient.
Navient (NASDAQ:NAVI) last released its quarterly earnings data on Tuesday, October 17th. The credit services provider reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.05. Navient had a net margin of 10.88% and a return on equity of 14.09%. The company had revenue of $343.00 million during the quarter, compared to the consensus estimate of $361.33 million. During the same quarter in the prior year, the firm posted $0.50 earnings per share. Navient’s revenue for the quarter was down 15.3% on a year-over-year basis.
Navient (NAVI) opened at $13.13 on Wednesday. The company has a quick ratio of 33.10, a current ratio of 33.10 and a debt-to-equity ratio of 30.58. Navient has a 12 month low of $11.48 and a 12 month high of $17.05. The stock has a market cap of $3,490.17, a price-to-earnings ratio of 7.50 and a beta of 2.37.
Navient announced that its Board of Directors has approved a share repurchase plan on Wednesday, October 4th that allows the company to repurchase shares. This repurchase authorization allows the credit services provider to repurchase shares of its stock through open market purchases. Shares repurchase plans are typically a sign that the company’s board believes its shares are undervalued.
The firm also recently announced a quarterly dividend, which was paid on Friday, December 15th. Stockholders of record on Friday, December 1st were issued a $0.16 dividend. The ex-dividend date of this dividend was Thursday, November 30th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 4.87%. Navient’s payout ratio is 35.36%.
In other news, CFO Christian M. Lown purchased 6,000 shares of the business’s stock in a transaction that occurred on Friday, October 20th. The stock was purchased at an average cost of $12.35 per share, with a total value of $74,100.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP John M. Kane sold 28,886 shares of the stock in a transaction dated Tuesday, September 26th. The stock was sold at an average price of $15.00, for a total transaction of $433,290.00. The disclosure for this sale can be found here. 1.68% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Ffcm LLC raised its holdings in Navient 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 in the last quarter. Bronfman E.L. Rothschild L.P. raised its holdings in Navient by 8.8% during the second quarter. Bronfman E.L. Rothschild L.P. now owns 7,564 shares of the credit services provider’s stock worth $126,000 after purchasing an additional 612 shares in the last quarter. Quantbot Technologies LP purchased a new position in Navient during the third quarter worth about $121,000. Advisors Asset Management Inc. raised its holdings in Navient by 84.0% during the third quarter. Advisors Asset Management Inc. now owns 10,168 shares of the credit services provider’s stock worth $153,000 after purchasing an additional 4,642 shares in the last quarter. Finally, Thrivent Financial For Lutherans raised its holdings in Navient by 1.0% during the second quarter. Thrivent Financial For Lutherans now owns 10,770 shares of the credit services provider’s stock worth $179,000 after purchasing an additional 110 shares in the last quarter. 92.67% of the stock is owned by hedge funds and other institutional investors.
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Navient 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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