Navient (NASDAQ:NAVI) Releases FY 2024 Earnings Guidance

Navient (NASDAQ:NAVI) issued an update on its FY 2024 earnings guidance on Friday morning. The company provided earnings per share guidance of 1.350-1.550 for the period, compared to the consensus earnings per share estimate of 1.490. The company issued revenue guidance of -.

Navient Price Performance

Navient stock traded up $0.35 during midday trading on Friday, hitting $15.95. 1,079,895 shares of the company’s stock were exchanged, compared to its average volume of 735,957. The stock has a 50-day moving average price of $14.77 and a two-hundred day moving average price of $15.91. Navient has a 52-week low of $13.95 and a 52-week high of $19.68. The company has a debt-to-equity ratio of 17.30, a quick ratio of 12.52 and a current ratio of 9.99. The company has a market cap of $1.75 billion, a P/E ratio of 10.22 and a beta of 1.40.

Navient (NASDAQ:NAVI) last released its earnings results on Wednesday, July 24th. The credit services provider reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.14). Navient had a net margin of 3.41% and a return on equity of 11.06%. The company had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $157.27 million. During the same period last year, the firm posted $0.70 EPS. On average, equities research analysts forecast that Navient will post 1.59 earnings per share for the current year.

Navient Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 21st. Investors of record on Friday, June 7th were given a dividend of $0.16 per share. The ex-dividend date was Friday, June 7th. This represents a $0.64 annualized dividend and a dividend yield of 4.01%. Navient’s dividend payout ratio is presently 41.03%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on NAVI shares. TD Cowen dropped their target price on Navient from $14.00 to $13.00 and set a sell rating on the stock in a report on Friday, April 26th. Keefe, Bruyette & Woods upped their price target on Navient from $15.00 to $16.00 and gave the stock a market perform rating in a research report on Thursday. Barclays reduced their price target on Navient from $11.00 to $10.00 and set an underweight rating for the company in a research report on Tuesday, July 9th. Finally, JPMorgan Chase & Co. dropped their price objective on Navient from $16.00 to $15.00 and set a neutral rating for the company in a research note on Monday, July 8th. Three investment analysts have rated the stock with a sell rating and eight have given a hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of Hold and a consensus price target of $15.80.

Insider Transactions at Navient

In other Navient news, EVP Mark L. Heleen sold 10,000 shares of the firm’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $16.00, for a total transaction of $160,000.00. Following the transaction, the executive vice president now directly owns 393,611 shares in the company, valued at approximately $6,297,776. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 27.99% of the company’s stock.

About Navient

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.