SLM Co. (NASDAQ:SLM) Expected to Announce Earnings of $0.24 Per Share

Brokerages expect that SLM Co. (NASDAQ:SLM) will announce earnings of $0.24 per share for the current quarter, Zacks reports. Two analysts have made estimates for SLM’s earnings, with the highest EPS estimate coming in at $0.41 and the lowest estimate coming in at $0.13. SLM reported earnings of $0.47 per share in the same quarter last year, which would indicate a negative year-over-year growth rate of 48.9%. The business is expected to report its next quarterly earnings results on Wednesday, October 20th.

On average, analysts expect that SLM will report full year earnings of $3.27 per share for the current year, with EPS estimates ranging from $3.23 to $3.31. For the next year, analysts forecast that the business will post earnings of $2.74 per share, with EPS estimates ranging from $2.63 to $2.84. Zacks’ EPS averages are an average based on a survey of research analysts that cover SLM.

SLM (NASDAQ:SLM) last released its quarterly earnings data on Tuesday, July 20th. The credit services provider reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.37 by $0.08. SLM had a return on equity of 66.37% and a net margin of 59.99%. The business had revenue of $338.78 million for the quarter, compared to analysts’ expectations of $332.33 million. During the same period in the previous year, the business posted ($0.22) earnings per share. SLM’s quarterly revenue was down 2.9% on a year-over-year basis.

SLM has been the topic of several analyst reports. Zacks Investment Research raised SLM from a “hold” rating to a “strong-buy” rating and set a $22.50 target price on the stock in a research note on Tuesday, July 20th. Credit Suisse Group increased their price objective on SLM from $23.00 to $24.00 and gave the stock an “outperform” rating in a report on Friday, July 23rd. One equities research analyst has rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $23.06.

Shares of SLM stock traded up $0.41 during trading hours on Wednesday, hitting $17.83. 180,982 shares of the company’s stock were exchanged, compared to its average volume of 4,454,745. The company has a debt-to-equity ratio of 2.43, a current ratio of 1.24 and a quick ratio of 1.24. SLM has a 52 week low of $7.66 and a 52 week high of $21.40. The stock has a market cap of $5.45 billion, a price-to-earnings ratio of 4.75 and a beta of 1.38. The stock’s 50-day moving average is $18.90 and its 200-day moving average is $18.97.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 15th. Shareholders of record on Friday, September 3rd will be issued a $0.03 dividend. The ex-dividend date is Thursday, September 2nd. This represents a $0.12 annualized dividend and a yield of 0.67%. SLM’s dividend payout ratio is presently 5.38%.

In other news, SVP Nicolas Jafarieh sold 6,500 shares of SLM stock in a transaction on Tuesday, August 3rd. The stock was sold at an average price of $18.90, for a total value of $122,850.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.51% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently modified their holdings of SLM. First Trust Advisors LP grew its position in SLM by 3.2% during the 1st quarter. First Trust Advisors LP now owns 496,117 shares of the credit services provider’s stock worth $4,917,000 after acquiring an additional 15,153 shares during the last quarter. Amundi Pioneer Asset Management Inc. grew its position in SLM by 49.1% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 169,597 shares of the credit services provider’s stock worth $1,680,000 after acquiring an additional 55,858 shares during the last quarter. Janney Montgomery Scott LLC bought a new stake in SLM during the 1st quarter worth $473,000. DekaBank Deutsche Girozentrale bought a new stake in SLM during the 1st quarter worth $1,516,000. Finally, Dupont Capital Management Corp bought a new stake in SLM during the 1st quarter worth $970,000. Institutional investors own 95.57% of the company’s stock.

About SLM

SLM Corp. engages in the provision and administration of education loans. Its services include private education loans, banking, college savings, and insurance services. The company was founded in 1972 and is headquartered in Newark, DE.

Recommended Story: Different Options Trading Strategies

Get a free copy of the Zacks research report on SLM (SLM)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for SLM (NASDAQ:SLM)

Receive News & Ratings for SLM Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SLM and related companies with MarketBeat.com's FREE daily email newsletter.