Navient (NASDAQ:NAVI) Releases Earnings Results, Beats Expectations By $0.13 EPS

Navient (NASDAQ:NAVI – Get Rating) posted its earnings results on Tuesday. The credit services provider reported $0.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.75 by $0.13, Fidelity Earnings reports. Navient had a return on equity of 20.46% and a net margin of 20.76%. The business had revenue of $276.00 million during the quarter, compared to analyst estimates of $258.20 million. During the same quarter last year, the firm earned $1.71 earnings per share. The company’s revenue for the quarter was down 6.4% compared to the same quarter last year. Navient updated its FY22 guidance to $3.20-3.30 EPS.

NASDAQ:NAVI traded down $0.23 during trading hours on Wednesday, reaching $16.37. 154,664 shares of the stock were exchanged, compared to its average volume of 2,389,090. The company has a quick ratio of 30.68, a current ratio of 30.68 and a debt-to-equity ratio of 28.56. The firm has a 50 day simple moving average of $17.07 and a 200-day simple moving average of $19.02. Navient has a 52 week low of $15.25 and a 52 week high of $23.80. The stock has a market capitalization of $2.42 billion, a P/E ratio of 4.14 and a beta of 1.72.

The company also recently announced a quarterly dividend, which was paid on Friday, March 18th. Shareholders of record on Friday, March 4th were issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 3.91%. The ex-dividend date was Thursday, March 3rd. Navient’s dividend payout ratio is presently 15.92%.

A number of equities research analysts have recently issued reports on the company. Compass Point lowered Navient from a “buy” rating to a “neutral” rating and set a $18.00 target price for the company. in a research note on Thursday, March 31st. TheStreet lowered Navient from a “b” rating to a “c+” rating in a research note on Tuesday, January 25th. Barclays lowered their target price on Navient from $26.00 to $25.00 in a research note on Monday, January 10th. StockNews.com started coverage on Navient in a report on Thursday, March 31st. They issued a “hold” rating for the company. Finally, Credit Suisse Group reduced their price target on Navient from $20.00 to $18.00 and set a “neutral” rating for the company in a report on Thursday, January 27th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $21.00.

In related news, EVP Stephen M. Hauber sold 3,161 shares of the firm’s stock in a transaction that occurred on Thursday, February 3rd. The stock was sold at an average price of $17.66, for a total value of $55,823.26. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder Newbury Investors Llc purchased 315,408 shares of the business’s stock in a transaction that occurred on Thursday, March 31st. The stock was bought at an average cost of $17.13 per share, for a total transaction of $5,402,939.04. The disclosure for this purchase can be found here. Company insiders own 2.85% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in NAVI. NewEdge Advisors LLC increased its position in Navient by 23.5% in the 4th quarter. NewEdge Advisors LLC now owns 36,904 shares of the credit services provider’s stock valued at $783,000 after acquiring an additional 7,025 shares during the period. LPL Financial LLC increased its position in Navient by 3.8% in the 4th quarter. LPL Financial LLC now owns 43,570 shares of the credit services provider’s stock valued at $925,000 after acquiring an additional 1,589 shares during the period. Kingsview Wealth Management LLC increased its position in Navient by 132.1% in the 4th quarter. Kingsview Wealth Management LLC now owns 94,909 shares of the credit services provider’s stock valued at $2,014,000 after acquiring an additional 54,022 shares during the period. Deutsche Bank AG increased its position in Navient by 27.1% in the 4th quarter. Deutsche Bank AG now owns 544,416 shares of the credit services provider’s stock valued at $11,552,000 after acquiring an additional 115,992 shares during the period. Finally, Morgan Stanley increased its position in Navient by 224.3% in the 2nd quarter. Morgan Stanley now owns 1,119,626 shares of the credit services provider’s stock valued at $21,642,000 after acquiring an additional 774,347 shares during the period. 77.13% of the stock is currently owned by institutional investors and hedge funds.

Navient Company Profile (Get Rating)

Navient Corporation provides education loan management and business processing solutions for education, healthcare, and government clients at the federal, state, and local levels in the United States. It operates through three segments: Federal Education Loans, Consumer Lending, and Business Processing.

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