Navient Corporation (NAVI) to Post FY2017 Earnings of $1.75 Per Share, Wedbush Forecasts

Navient Corporation (NASDAQ:NAVI) – Wedbush issued their FY2017 earnings per share (EPS) estimates for shares of Navient Corporation in a research note issued to investors on Monday. Wedbush analyst H. Coffey forecasts that the credit services provider will post earnings per share of $1.75 for the year. Wedbush also issued estimates for Navient Corporation’s FY2019 earnings at $1.70 EPS.

NAVI has been the subject of several other reports. BidaskClub cut Navient Corporation from a “hold” rating to a “sell” rating in a research report on Saturday, August 5th. Credit Suisse Group raised Navient Corporation from a “neutral” rating to an “outperform” rating and set a $16.50 price objective for the company in a research report on Friday, September 8th. Citigroup Inc. began coverage on Navient Corporation in a research report on Monday. They set a “buy” rating and a $20.00 price objective for the company. BMO Capital Markets reaffirmed a “hold” rating and set a $16.00 price objective (down from $17.00) on shares of Navient Corporation in a research report on Thursday, July 20th. Finally, Compass Point raised Navient Corporation from a “neutral” rating to a “buy” rating and set a $16.50 price objective for the company in a research report on Tuesday, September 5th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. Navient Corporation currently has an average rating of “Hold” and an average target price of $18.45.

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Shares of Navient Corporation (NASDAQ:NAVI) opened at 12.20 on Wednesday. Navient Corporation has a 1-year low of $11.48 and a 1-year high of $17.95. The stock has a market capitalization of $3.34 billion, a P/E ratio of 6.32 and a beta of 2.48. The stock’s 50 day moving average price is $13.78 and its 200-day moving average price is $14.70.

Navient Corporation (NASDAQ:NAVI) last posted its quarterly earnings results on Tuesday, October 17th. The credit services provider reported $0.55 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.50 by $0.05. Navient Corporation had a return on equity of 14.05% and a net margin of 11.50%. The company had revenue of $343.00 million during the quarter, compared to the consensus estimate of $361.33 million. During the same period last year, the business earned $0.50 EPS. The business’s quarterly revenue was down 15.3% on a year-over-year basis.

Navient Corporation declared that its board has authorized a stock buyback program on Wednesday, October 4th that allows the company to repurchase shares. This repurchase authorization allows the credit services provider to purchase shares of its stock through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its stock is undervalued.

In related news, EVP John M. Kane sold 28,886 shares of the firm’s stock in a transaction on Tuesday, September 26th. The stock was sold at an average price of $15.00, for a total transaction of $433,290.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.68% of the stock is owned by company insiders.

Several hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of Navient Corporation by 4.3% in the 1st quarter. Vanguard Group Inc. now owns 39,295,006 shares of the credit services provider’s stock worth $579,995,000 after acquiring an additional 1,606,973 shares in the last quarter. BlackRock Inc. raised its position in shares of Navient Corporation by 2,615.0% in the 1st quarter. BlackRock Inc. now owns 21,395,479 shares of the credit services provider’s stock worth $315,797,000 after acquiring an additional 20,607,439 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Navient Corporation by 1.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 9,130,065 shares of the credit services provider’s stock worth $152,017,000 after acquiring an additional 113,420 shares in the last quarter. Prudential Financial Inc. raised its position in shares of Navient Corporation by 446.1% in the 2nd quarter. Prudential Financial Inc. now owns 5,696,350 shares of the credit services provider’s stock worth $94,845,000 after acquiring an additional 4,653,171 shares in the last quarter. Finally, LSV Asset Management raised its position in shares of Navient Corporation by 6.3% in the 2nd quarter. LSV Asset Management now owns 5,429,642 shares of the credit services provider’s stock worth $90,403,000 after acquiring an additional 319,939 shares in the last quarter. 93.01% of the stock is owned by hedge funds and other institutional investors.

About Navient Corporation

Navient Corporation provides asset management and business processing services to education, healthcare and government clients at the federal, state and local levels. The Company holds the portfolio of education loans insured or federally guaranteed under the Federal Family Education Loan Program (FFELP).

Earnings History and Estimates for Navient Corporation (NASDAQ:NAVI)

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