Q3 2022 EPS Estimates for Navient Co. (NASDAQ:NAVI) Lowered by Jefferies Financial Group

Navient Co. (NASDAQ:NAVIGet Rating) – Jefferies Financial Group dropped their Q3 2022 EPS estimates for Navient in a report released on Wednesday, April 27th. Jefferies Financial Group analyst J. Hecht now forecasts that the credit services provider will earn $0.75 per share for the quarter, down from their prior forecast of $0.87. Jefferies Financial Group also issued estimates for Navient’s Q4 2022 earnings at $0.80 EPS, FY2022 earnings at $3.21 EPS, Q4 2023 earnings at $0.89 EPS and FY2023 earnings at $3.21 EPS.

Navient (NASDAQ:NAVIGet Rating) last announced its earnings results on Tuesday, April 26th. The credit services provider reported $0.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.75 by $0.13. The company had revenue of $276.00 million during the quarter, compared to analyst estimates of $258.20 million. Navient had a net margin of 18.20% and a return on equity of 14.12%. The firm’s quarterly revenue was down 6.4% compared to the same quarter last year. During the same period in the previous year, the business posted $1.71 earnings per share.

Several other equities analysts also recently commented on the stock. TheStreet downgraded shares of Navient from a “b” rating to a “c+” rating in a report on Tuesday, January 25th. Compass Point downgraded shares of Navient from a “buy” rating to a “neutral” rating and set a $18.00 target price on the stock. in a report on Thursday, March 31st. JPMorgan Chase & Co. downgraded shares of Navient from a “neutral” rating to an “underweight” rating and lowered their target price for the stock from $21.00 to $17.00 in a report on Monday, April 11th. Barclays reduced their price target on shares of Navient from $26.00 to $25.00 in a research report on Monday, January 10th. Finally, Credit Suisse Group reduced their price target on shares of Navient from $20.00 to $18.00 and set a “neutral” rating on the stock in a research report on Thursday, January 27th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $21.00.

Shares of NASDAQ:NAVI opened at $15.89 on Monday. The company has a debt-to-equity ratio of 25.03, a current ratio of 19.55 and a quick ratio of 30.68. Navient has a 1-year low of $15.75 and a 1-year high of $23.80. The company has a market capitalization of $2.35 billion, a P/E ratio of 4.31 and a beta of 1.72. The firm’s 50 day simple moving average is $16.94 and its two-hundred day simple moving average is $18.93.

The business also recently declared a quarterly dividend, which was paid on Friday, March 18th. Stockholders of record on Friday, March 4th were paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 4.03%. The ex-dividend date was Thursday, March 3rd. Navient’s dividend payout ratio is presently 17.34%.

In related news, EVP Stephen M. Hauber sold 3,161 shares of the business’s stock in a transaction that occurred on Thursday, February 3rd. The shares were 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 Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Newbury Investors Llc acquired 315,408 shares of Navient stock in a transaction that occurred on Thursday, March 31st. The stock was acquired at an average cost of $17.13 per share, with a total value of $5,402,939.04. The disclosure for this purchase can be found here. Insiders own 2.85% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Spire Wealth Management purchased a new position in Navient in the fourth quarter worth $29,000. Whittier Trust Co. grew its holdings in Navient by 600.0% in the fourth quarter. Whittier Trust Co. now owns 2,625 shares of the credit services provider’s stock worth $56,000 after purchasing an additional 2,250 shares during the last quarter. Covestor Ltd purchased a new position in Navient in the fourth quarter worth $57,000. Meeder Asset Management Inc. grew its holdings in shares of Navient by 26.7% during the third quarter. Meeder Asset Management Inc. now owns 5,338 shares of the credit services provider’s stock valued at $105,000 after buying an additional 1,126 shares during the last quarter. Finally, USA Financial Portformulas Corp purchased a new stake in shares of Navient during the third quarter valued at $139,000. 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.

Read More

Earnings History and Estimates for Navient (NASDAQ:NAVI)

Receive News & Ratings for Navient Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Navient and related companies with MarketBeat.com's FREE daily email newsletter.