SLM (NASDAQ:SLM) Releases FY 2022 Earnings Guidance

SLM (NASDAQ:SLMGet Rating) issued an update on its FY 2022 earnings guidance on Tuesday morning. The company provided earnings per share guidance of $2.50-$2.70 for the period, compared to the consensus earnings per share estimate of $2.62. The company issued revenue guidance of -.

SLM Stock Down 3.4 %

SLM stock traded down $0.50 during mid-day trading on Friday, hitting $14.21. 18,383 shares of the company’s stock were exchanged, compared to its average volume of 2,312,359. The stock has a market cap of $3.57 billion, a P/E ratio of 4.77 and a beta of 1.18. The stock has a 50 day moving average of $15.56 and a two-hundred day moving average of $16.71. SLM has a 1-year low of $14.35 and a 1-year high of $20.88. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 3.02.

SLM (NASDAQ:SLMGet Rating) last announced its quarterly earnings results on Wednesday, July 27th. The credit services provider reported $1.29 EPS for the quarter, topping analysts’ consensus estimates of $1.24 by $0.05. The firm had revenue of $362.81 million during the quarter, compared to analysts’ expectations of $354.41 million. SLM had a net margin of 37.26% and a return on equity of 46.75%. During the same quarter last year, the company earned $0.45 earnings per share. As a group, analysts anticipate that SLM will post 2.63 EPS for the current fiscal year.

SLM Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Friday, September 2nd were given a dividend of $0.11 per share. The ex-dividend date was Thursday, September 1st. This represents a $0.44 dividend on an annualized basis and a dividend yield of 3.10%. SLM’s dividend payout ratio is 14.57%.

Analysts Set New Price Targets

SLM has been the subject of several research reports. Barclays dropped their price objective on shares of SLM from $27.00 to $22.00 and set an overweight rating for the company in a research note on Monday, July 11th. Keefe, Bruyette & Woods reduced their price objective on shares of SLM from $24.00 to $21.00 in a research note on Monday, July 11th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, SLM has a consensus rating of Moderate Buy and a consensus target price of $22.00.

Hedge Funds Weigh In On SLM

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Raymond James & Associates boosted its stake in SLM by 2.6% during the first quarter. Raymond James & Associates now owns 156,130 shares of the credit services provider’s stock worth $2,867,000 after buying an additional 3,913 shares during the last quarter. HighTower Advisors LLC purchased a new position in SLM in the 1st quarter valued at approximately $262,000. MetLife Investment Management LLC increased its position in SLM by 26.9% during the first quarter. MetLife Investment Management LLC now owns 180,359 shares of the credit services provider’s stock worth $3,311,000 after buying an additional 38,282 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in SLM by 5.2% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 102,214 shares of the credit services provider’s stock valued at $1,877,000 after acquiring an additional 5,012 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in shares of SLM by 0.8% during the first quarter. Dimensional Fund Advisors LP now owns 5,541,444 shares of the credit services provider’s stock worth $101,733,000 after purchasing an additional 45,321 shares in the last quarter. Hedge funds and other institutional investors own 98.89% of the company’s stock.

SLM Company Profile

(Get Rating)

SLM Corporation, through its subsidiaries, originates and services private education loans to students and their families to finance the cost of their education in the United States. It also offers retail deposit accounts, including certificates of deposit, money market deposit accounts, and high-yield savings accounts; and omnibus accounts, as well as credit card loans.

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Earnings History and Estimates for SLM (NASDAQ:SLM)

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