Navient (NASDAQ:NAVI) Releases FY 2024 Earnings Guidance

Navient (NASDAQ:NAVI) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided EPS guidance of 2.450-2.500 for the period, compared to the consensus EPS estimate of 1.380. The company issued revenue guidance of -.

Wall Street Analyst Weigh In

Several research analysts have recently commented on NAVI shares. Bank of America started coverage on Navient in a research report on Monday, September 30th. They set a “neutral” rating and a $17.00 price target for the company. Keefe, Bruyette & Woods boosted their price target on shares of Navient from $15.00 to $16.00 and gave the stock a “market perform” rating in a research note on Thursday, July 25th. JPMorgan Chase & Co. raised their price objective on shares of Navient from $15.00 to $16.00 and gave the company a “neutral” rating in a research note on Monday, October 7th. TD Cowen cut their target price on shares of Navient from $14.00 to $13.00 and set a “sell” rating on the stock in a research note on Friday. Finally, Barclays lifted their target price on Navient from $10.00 to $11.00 and gave the company an “underweight” rating in a report on Tuesday, October 8th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, Navient has a consensus rating of “Hold” and an average price target of $15.78.

Navient Stock Down 1.7 %

Shares of NASDAQ:NAVI traded down $0.24 on Friday, hitting $13.99. 702,822 shares of the company’s stock were exchanged, compared to its average volume of 490,483. The firm’s 50-day moving average is $15.58 and its 200 day moving average is $15.28. The company has a market capitalization of $1.50 billion, a PE ratio of 20.28 and a beta of 1.39. Navient has a 1-year low of $13.95 and a 1-year high of $19.68. The company has a debt-to-equity ratio of 16.59, a quick ratio of 9.99 and a current ratio of 9.49.

Navient (NASDAQ:NAVI) last released its quarterly earnings data on Wednesday, October 30th. The credit services provider reported $1.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $1.20. The business had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $150.04 million. Navient had a return on equity of 8.62% and a net margin of 1.71%. During the same period in the prior year, the firm posted $0.84 EPS. Sell-side analysts predict that Navient will post 1.39 EPS for the current year.

Navient Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Friday, September 6th were given a dividend of $0.16 per share. The ex-dividend date was Friday, September 6th. This represents a $0.64 annualized dividend and a dividend yield of 4.57%. Navient’s dividend payout ratio is currently 92.75%.

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.