Navient (NASDAQ:NAVI) Releases FY 2024 Earnings Guidance

Navient (NASDAQ:NAVI) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of 1.550-1.750 for the period, compared to the consensus estimate of 2.110. The company issued revenue guidance of -.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on NAVI. Barclays reiterated an underweight rating and set a $14.00 price target (down previously from $17.00) on shares of Navient in a research note on Wednesday, January 10th. Deutsche Bank Aktiengesellschaft began coverage on shares of Navient in a research note on Wednesday, January 10th. They issued a hold rating and a $19.00 target price on the stock. Stephens downgraded Navient from an equal weight rating to an underweight rating and set a $16.00 price objective on the stock. in a report on Tuesday, January 2nd. Citigroup raised their target price on Navient from $17.00 to $18.00 and gave the stock a neutral rating in a research report on Thursday, February 1st. Finally, StockNews.com lowered Navient from a buy rating to a hold rating in a research note on Thursday, February 1st. Three analysts have rated the stock with a sell rating and eight have issued a hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of Hold and a consensus target price of $16.70.

Navient Stock Down 3.2 %

Shares of NAVI stock traded down $0.52 during trading hours on Thursday, hitting $15.57. 619,885 shares of the company were exchanged, compared to its average volume of 916,535. Navient has a 52 week low of $14.10 and a 52 week high of $19.69. The company has a current ratio of 13.64, a quick ratio of 13.63 and a debt-to-equity ratio of 19.35. The business has a 50 day moving average of $16.57 and a two-hundred day moving average of $17.11. The company has a market capitalization of $1.74 billion, a PE ratio of 8.73 and a beta of 1.38.

Navient (NASDAQ:NAVI) last released its quarterly earnings results on Wednesday, April 24th. The credit services provider reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.05. The firm had revenue of $163.00 million during the quarter, compared to the consensus estimate of $188.04 million. Navient had a return on equity of 14.17% and a net margin of 4.72%. Analysts anticipate that Navient will post 2.12 earnings per share for the current fiscal year.

Navient Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 4.11%. The ex-dividend date was Thursday, February 29th. Navient’s dividend payout ratio is 35.96%.

Insider Activity at Navient

In related news, EVP Mark L. Heleen sold 10,000 shares of the business’s stock in a transaction on Wednesday, January 31st. The stock was sold at an average price of $17.20, for a total value of $172,000.00. Following the completion of the sale, the executive vice president now directly owns 385,577 shares in the company, valued at approximately $6,631,924.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 27.99% of the stock is owned by company insiders.

Navient Company Profile

Navient Corporation provides technology-enabled education finance and business processing solutions for education, health care, and government clients in the United States. It operates through three segments: Federal Education Loans, Consumer Lending, and Business Processing. The company owns Federal Family Education Loan Program (FFELP) loans that are insured or guaranteed by state or not-for-profit agencies; and performs servicing on its portfolios, as well as federal education loans held by other institutions.