SLM (NASDAQ:SLM – Get Free Report) 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
Read Our Latest Stock Report on SLM
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.
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