SLM Co. (NASDAQ:SLM) Expected to Post Quarterly Sales of $371.44 Million

Analysts predict that SLM Co. (NASDAQ:SLM – Get Rating) will post sales of $371.44 million for the current quarter, Zacks reports. Two analysts have made estimates for SLM’s earnings. The highest sales estimate is $397.90 million and the lowest is $344.97 million. SLM posted sales of $338.78 million during the same quarter last year, which suggests a positive year-over-year growth rate of 9.6%. The business is scheduled to announce its next quarterly earnings report on Monday, January 1st.

According to Zacks, analysts expect that SLM will report full year sales of $1.50 billion for the current year, with estimates ranging from $1.41 billion to $1.58 billion. For the next year, analysts forecast that the firm will report sales of $1.55 billion, with estimates ranging from $1.51 billion to $1.58 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that that provide coverage for SLM.

SLM (NASDAQ:SLM – Get Rating) last released its earnings results on Wednesday, April 27th. The credit services provider reported $0.46 EPS for the quarter, missing the consensus estimate of $0.81 by ($0.35). SLM had a return on equity of 34.38% and a net margin of 31.67%. The business had revenue of $375.03 million for the quarter, compared to analyst estimates of $375.59 million. During the same period in the prior year, the business earned $1.77 EPS. The company’s revenue for the quarter was up 13.3% on a year-over-year basis.

Several equities research analysts recently commented on the company. Stephens cut SLM from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $24.00 to $19.00 in a research note on Monday, April 18th. Barclays increased their price target on SLM from $25.00 to $27.00 in a report on Monday, January 10th. Citigroup cut their price target on SLM from $26.00 to $21.00 in a report on Monday, May 2nd. Wedbush reiterated an “outperform” rating on shares of SLM in a report on Monday, January 31st. Finally, StockNews.com assumed coverage on SLM in a report on Thursday, March 31st. They issued a “hold” rating on the stock. Two investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $22.93.

In related news, CFO Steven Mcgarry sold 22,834 shares of SLM stock in a transaction on Friday, February 25th. The stock was sold at an average price of $19.89, for a total transaction of $454,168.26. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Jonathan Boyles sold 6,140 shares of SLM stock in a transaction on Friday, March 4th. The stock was sold at an average price of $17.43, for a total value of $107,020.20. The disclosure for this sale can be found here. Insiders sold 43,990 shares of company stock worth $857,754 in the last 90 days. Corporate insiders own 0.51% of the company’s stock.

A number of institutional investors have recently modified their holdings of SLM. Counterpoint Mutual Funds LLC bought a new stake in SLM during the fourth quarter worth $28,000. Quent Capital LLC bought a new stake in SLM during the fourth quarter worth $41,000. Whittier Trust Co. lifted its holdings in SLM by 600.0% during the fourth quarter. Whittier Trust Co. now owns 2,625 shares of the credit services provider’s stock worth $52,000 after acquiring an additional 2,250 shares during the period. Ahrens Investment Partners LLC bought a new stake in SLM during the first quarter worth $58,000. Finally, Fifth Third Bancorp lifted its holdings in SLM by 21.0% during the first quarter. Fifth Third Bancorp now owns 7,396 shares of the credit services provider’s stock worth $136,000 after acquiring an additional 1,282 shares during the period. Institutional investors and hedge funds own 92.97% of the company’s stock.

NASDAQ SLM opened at $17.00 on Friday. The business has a 50 day simple moving average of $17.59 and a 200 day simple moving average of $18.48. SLM has a one year low of $16.07 and a one year high of $21.40. The stock has a market capitalization of $4.58 billion, a P/E ratio of 7.83 and a beta of 1.22. The company has a debt-to-equity ratio of 3.10, a current ratio of 1.24 and a quick ratio of 1.24.

SLM declared that its board has authorized a share buyback plan on Wednesday, January 26th that authorizes the company to repurchase $1.25 billion in outstanding shares. This repurchase authorization authorizes the credit services provider to reacquire up to 24.9% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 15th. Stockholders of record on Friday, June 3rd will be issued a $0.11 dividend. The ex-dividend date of this dividend is Thursday, June 2nd. This represents a $0.44 dividend on an annualized basis and a dividend yield of 2.59%. SLM’s dividend payout ratio is presently 20.28%.

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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