SLM (NASDAQ:SLM) Issues Quarterly Earnings Results, Misses Expectations By $0.30 EPS

SLM (NASDAQ:SLM) released its earnings results on Wednesday. The credit services provider reported ($0.23) earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.30), Briefing.com reports. SLM had a return on equity of 41.84% and a net margin of 24.67%. During the same period last year, the company earned $0.11 earnings per share. SLM updated its FY 2024 guidance to 2.700-2.800 EPS.

SLM Stock Down 3.6 %

SLM traded down $0.82 on Thursday, reaching $21.98. 397,097 shares of the company traded hands, compared to its average volume of 1,767,145. The company has a market cap of $4.78 billion, a price-to-earnings ratio of 6.89, a PEG ratio of 0.60 and a beta of 1.15. The stock’s 50 day moving average price is $21.90 and its 200-day moving average price is $21.49. SLM has a 52-week low of $12.26 and a 52-week high of $23.95. The company has a debt-to-equity ratio of 2.66, a current ratio of 1.26 and a quick ratio of 1.26.

Insider Activity

In related news, Director Robert S. Strong sold 4,500 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $22.70, for a total value of $102,150.00. Following the completion of the sale, the director now directly owns 101,093 shares in the company, valued at approximately $2,294,811.10. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.20% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

SLM has been the subject of several research reports. Royal Bank of Canada raised their target price on SLM from $25.00 to $27.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Barclays cut their target price on shares of SLM from $27.00 to $26.00 and set an “overweight” rating for the company in a research note on Thursday. Bank of America started coverage on shares of SLM in a research report on Wednesday, September 25th. They issued a “buy” rating and a $27.00 price target on the stock. Wedbush reiterated an “outperform” rating and set a $26.00 price objective on shares of SLM in a research report on Thursday. Finally, Keefe, Bruyette & Woods lifted their target price on SLM from $25.00 to $27.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Two investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $24.75.

About SLM

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 is also involved in the provision of retail deposit accounts, including certificates of deposit, money market accounts, and high-yield savings accounts; and interest-bearing omnibus accounts.