Navient (NASDAQ:NAVI) Stock Price Target Lowered at Barclays

Navient (NASDAQ:NAVI) had its target price trimmed by Barclays from $8.00 to $7.00 in a research note released on Monday,Benzinga reports. The firm currently has an underweight rating on the credit services provider’s stock.

Other equities analysts have also recently issued reports about the stock. JPMorgan Chase & Co. decreased their price objective on shares of Navient from $9.50 to $8.00 and set a “neutral” rating for the company in a research report on Monday, July 13th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Navient in a research report on Monday, September 21st. Finally, TD Cowen reiterated a “sell” rating on shares of Navient in a research note on Friday, August 7th. Four analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Navient currently has an average rating of “Reduce” and a consensus price target of $8.08.

Navient Trading Down 1.6%

NAVI opened at $9.04 on Monday. The firm’s 50 day moving average is $9.23 and its 200-day moving average is $8.67. Navient has a 52-week low of $7.33 and a 52-week high of $13.48. The company has a quick ratio of 10.53, a current ratio of 10.53 and a debt-to-equity ratio of 16.73. The firm has a market capitalization of $847.81 million, a P/E ratio of -18.08 and a beta of 1.15.

Navient (NASDAQ:NAVI) last announced its earnings results on Thursday, August 6th. The credit services provider reported $0.29 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.09. Navient had a negative net margin of 1.64% and a positive return on equity of 4.68%. The business had revenue of $150.00 million during the quarter, compared to the consensus estimate of $142.87 million. During the same period in the prior year, the firm earned $0.20 earnings per share. Analysts expect that Navient will post 0.78 EPS for the current fiscal year.

Navient Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 18th. Shareholders of record on Friday, September 4th were issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 7.1%. The ex-dividend date of this dividend was Friday, September 4th. Navient’s dividend payout ratio (DPR) is currently -128.00%.

Institutional Investors Weigh In On Navient

Hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. bought a new position in shares of Navient during the second quarter worth about $110,235,000. Wellington Management Group LLP increased its holdings in Navient by 41.5% in the second quarter. Wellington Management Group LLP now owns 1,939,380 shares of the credit services provider’s stock valued at $16,504,000 after buying an additional 568,590 shares during the last quarter. Bank of America Corp DE acquired a new stake in Navient during the second quarter valued at approximately $11,989,000. Squarepoint Ops LLC raised its stake in Navient by 145.9% during the second quarter. Squarepoint Ops LLC now owns 939,099 shares of the credit services provider’s stock valued at $7,992,000 after buying an additional 557,141 shares in the last quarter. Finally, PDT Partners LLC bought a new position in Navient during the 2nd quarter worth approximately $4,435,000. Institutional investors own 97.14% of the company’s stock.

About Navient

Navient Corporation is a financial services company that provides education finance and loan management solutions. Its activities include servicing and managing private education loans and federally backed loans held in its portfolio, as well as providing related customer support, payment processing and account administration services.

The company was formed in 2014 through the separation of Sallie Mae’s education-lending and loan-servicing businesses. Navient formerly serviced a significant portion of the federal student loan portfolio, but it exited the U.S.