SLM Corp (SLM) Expected to Announce Quarterly Sales of $263.38 Million

Wall Street brokerages expect SLM Corp (NASDAQ:SLM) to post sales of $263.38 million for the current quarter, Zacks Investment Research reports. Four analysts have made estimates for SLM Corp’s earnings, with estimates ranging from $251 million to $271.02 million. SLM Corp posted sales of $212.77 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 23.8%. The company is scheduled to report its next earnings report on Wednesday, July 19th.

According to Zacks, analysts expect that SLM Corp will report full-year sales of $263.38 million for the current financial year, with estimates ranging from $1.07 billion to $1.13 billion. For the next fiscal year, analysts anticipate that the firm will report sales of $1.31 billion per share, with estimates ranging from $1.24 billion to $1.36 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that follow SLM Corp.

SLM Corp (NASDAQ:SLM) last announced its quarterly earnings results on Wednesday, April 19th. The credit services provider reported $0.21 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.15 by $0.06. The business had revenue of $268.08 million during the quarter, compared to the consensus estimate of $260.24 million. SLM Corp had a net margin of 21.84% and a return on equity of 15.17%. The business’s revenue was up 27.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.14 EPS.

Several brokerages have issued reports on SLM. Zacks Investment Research raised shares of SLM Corp from a “hold” rating to a “buy” rating and set a $14.00 price target on the stock in a report on Monday, April 24th. TheStreet raised shares of SLM Corp from a “c+” rating to a “b-” rating in a report on Monday, May 1st. FBR & Co set a $14.00 price target on shares of SLM Corp and gave the company a “buy” rating in a report on Saturday, April 22nd. Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $15.00 price target on shares of SLM Corp in a report on Friday, April 21st. Finally, Off Wall Street reaffirmed a “sell” rating and issued a $8.50 price target on shares of SLM Corp in a report on Friday, May 5th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $11.34.

Shares of SLM Corp (NASDAQ:SLM) opened at 10.71 on Friday. The stock’s 50 day moving average is $11.77 and its 200-day moving average is $11.36. The firm has a market cap of $4.62 billion, a P/E ratio of 18.12 and a beta of 1.27. SLM Corp has a one year low of $5.56 and a one year high of $13.20.

In related news, EVP Laurent Charles Lutz sold 170,000 shares of the company’s stock in a transaction that occurred on Monday, April 24th. The shares were sold at an average price of $13.08, for a total transaction of $2,223,600.00. Following the transaction, the executive vice president now owns 740,299 shares of the company’s stock, valued at $9,683,110.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Paul F. Thome sold 19,193 shares of the company’s stock in a transaction that occurred on Tuesday, March 7th. The shares were sold at an average price of $11.77, for a total transaction of $225,901.61. Following the transaction, the executive vice president now directly owns 202,707 shares in the company, valued at approximately $2,385,861.39. The disclosure for this sale can be found here. Insiders have sold 198,293 shares of company stock worth $2,562,069 in the last three months. Insiders own 0.98% of the company’s stock.

A number of institutional investors have recently modified their holdings of the company. Envestnet Asset Management Inc. raised its position in shares of SLM Corp by 44.0% in the first quarter. Envestnet Asset Management Inc. now owns 8,438 shares of the credit services provider’s stock valued at $102,000 after buying an additional 2,578 shares during the period. Hartford Investment Management Co. bought a new position in shares of SLM Corp during the third quarter valued at approximately $104,000. HighTower Advisors LLC bought a new position in shares of SLM Corp during the first quarter valued at approximately $125,000. Parametrica Management Ltd bought a new position in shares of SLM Corp during the first quarter valued at approximately $150,000. Finally, Commerzbank Aktiengesellschaft FI bought a new position in shares of SLM Corp during the first quarter valued at approximately $163,000. 98.02% of the stock is owned by hedge funds and other institutional investors.

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About SLM Corp

SLM Corporation (Sallie Mae) is the nation’s saving, planning, and paying for college company. Sallie Mae offers products, which promote personal finance including private education loans, Upromise rewards, scholarship search, college financial planning tools, insurance, and online retail banking.

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