Navient (NAVI) Scheduled to Post Quarterly Earnings on Wednesday

Navient (NASDAQ:NAVI) will release its earnings data before the market opens on Wednesday, April 24th. Analysts expect Navient to post earnings of $0.60 per share for the quarter. Navient has set its FY 2024 guidance at 2.100-2.300 EPS.Persons that wish to register for the company’s earnings conference call can do so using this link.

Navient (NASDAQ:NAVI) last issued its quarterly earnings results on Wednesday, January 31st. The credit services provider reported $0.70 EPS for the quarter, missing the consensus estimate of $0.77 by ($0.07). Navient had a return on equity of 14.17% and a net margin of 4.72%. The company had revenue of $193.00 million for the quarter, compared to the consensus estimate of $210.76 million. On average, analysts expect Navient to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Navient Stock Performance

Shares of NASDAQ NAVI opened at $16.26 on Wednesday. The company has a quick ratio of 13.63, a current ratio of 13.64 and a debt-to-equity ratio of 19.35. The firm’s 50-day moving average price is $16.55 and its two-hundred day moving average price is $17.15. Navient has a 52-week low of $14.10 and a 52-week high of $19.69. The stock has a market capitalization of $1.82 billion, a P/E ratio of 9.13 and a beta of 1.38.

Navient Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were issued a $0.16 dividend. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $0.64 dividend on an annualized basis and a yield of 3.94%. Navient’s dividend payout ratio is currently 35.96%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on NAVI. Barclays restated an “underweight” rating and issued a $14.00 price target (down previously from $17.00) on shares of Navient in a research note on Wednesday, January 10th. Stephens lowered shares of Navient from an “equal weight” rating to an “underweight” rating and set a $16.00 price target on the stock. in a research note on Tuesday, January 2nd. JPMorgan Chase & Co. upgraded shares of Navient from an “underweight” rating to a “neutral” rating and lowered their price objective for the company from $18.00 to $17.00 in a research note on Wednesday, April 3rd. TD Cowen lowered shares of Navient from a “market perform” rating to an “underperform” rating and lowered their price objective for the company from $17.00 to $15.00 in a research note on Monday, January 8th. Finally, StockNews.com lowered shares of Navient from a “buy” rating to a “hold” rating in a research report on Thursday, February 1st. Three equities research analysts have rated the stock with a sell rating and seven have given a hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $16.67.

Insiders Place Their Bets

In other news, EVP Mark L. Heleen sold 10,000 shares of the business’s stock in a transaction on Wednesday, January 31st. The shares were sold at an average price of $17.20, for a total transaction of $172,000.00. Following the transaction, 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 SEC, which is available at this hyperlink. Corporate insiders own 22.10% of the company’s stock.

Institutional Investors Weigh In On Navient

Large investors have recently bought and sold shares of the business. Quarry LP boosted its holdings in Navient by 299.1% in the first quarter. Quarry LP now owns 2,530 shares of the credit services provider’s stock worth $40,000 after purchasing an additional 1,896 shares in the last quarter. State of Wyoming bought a new stake in Navient in the fourth quarter worth $62,000. Covestor Ltd boosted its holdings in Navient by 87.4% in the first quarter. Covestor Ltd now owns 5,042 shares of the credit services provider’s stock worth $86,000 after purchasing an additional 2,352 shares in the last quarter. Advisor Group Holdings Inc. boosted its holdings in Navient by 11.6% in the fourth quarter. Advisor Group Holdings Inc. now owns 7,646 shares of the credit services provider’s stock worth $125,000 after purchasing an additional 797 shares in the last quarter. Finally, International Assets Investment Management LLC boosted its holdings in Navient by 1,762.0% in the fourth quarter. International Assets Investment Management LLC now owns 9,310 shares of the credit services provider’s stock worth $173,000 after purchasing an additional 8,810 shares in the last quarter. 97.14% of the stock is currently owned by institutional investors.

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.