Navient (NASDAQ:NAVI) Updates FY 2024 Earnings Guidance

Navient (NASDAQ:NAVI) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of 1.550-1.750 for the period, compared to the consensus estimate of 2.110. The company issued revenue guidance of -.

Navient Stock Performance

NASDAQ:NAVI traded down $0.04 during mid-day trading on Friday, hitting $15.72. 766,480 shares of the company traded hands, compared to its average volume of 850,227. The firm has a market cap of $1.76 billion, a price-to-earnings ratio of 10.08 and a beta of 1.38. The company has a quick ratio of 13.63, a current ratio of 12.52 and a debt-to-equity ratio of 18.38. The stock’s fifty day moving average price is $16.54 and its 200-day moving average price is $17.09. Navient has a one year low of $14.10 and a one year high of $19.69.

Navient (NASDAQ:NAVI) last announced its quarterly earnings results on Wednesday, April 24th. The credit services provider reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.05. Navient had a return on equity of 12.09% and a net margin of 3.93%. The company had revenue of $163.00 million during the quarter, compared to analyst estimates of $188.04 million. Research analysts anticipate that Navient will post 1.74 earnings per share for the current fiscal year.

Navient Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were given a dividend of $0.16 per share. The ex-dividend date was Thursday, February 29th. This represents a $0.64 dividend on an annualized basis and a yield of 4.07%. Navient’s dividend payout ratio (DPR) is presently 41.03%.

Analyst Upgrades and Downgrades

NAVI has been the topic of a number of recent research reports. Keefe, Bruyette & Woods decreased their price objective on Navient from $19.00 to $17.00 and set a market perform rating on the stock in a research report on Thursday. JPMorgan Chase & Co. dropped their target price on Navient from $17.00 to $16.00 and set a neutral rating on the stock in a research report on Thursday. Deutsche Bank Aktiengesellschaft assumed coverage on Navient in a research report on Wednesday, January 10th. They issued a hold rating and a $19.00 price objective for the company. StockNews.com cut Navient from a buy rating to a hold rating in a research report on Thursday, February 1st. Finally, Barclays lowered their price objective on Navient from $13.00 to $11.00 and set an underweight rating for the company in a research report on Thursday. Three analysts have rated the stock with a sell rating and eight have given a hold rating to the stock. According to MarketBeat, Navient presently has an average rating of Hold and a consensus price target of $16.10.

Insider Transactions at Navient

In other news, EVP Mark L. Heleen sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 31st. The stock was sold at an average price of $17.20, for a total transaction of $172,000.00. Following the transaction, the executive vice president now directly owns 385,577 shares in the company, valued at approximately $6,631,924.40. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 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.