Navient Corporation (NAVI) to Post Q3 2017 Earnings of $0.50 Per Share, Wedbush Forecasts

Navient Corporation (NASDAQ:NAVI) – Research analysts at Wedbush boosted their Q3 2017 earnings estimates for Navient Corporation in a research report issued on Monday. Wedbush analyst H. Coffey now expects that the credit services provider will post earnings per share of $0.50 for the quarter, up from their previous estimate of $0.45. Wedbush also issued estimates for Navient Corporation’s Q4 2017 earnings at $0.46 EPS, Q1 2018 earnings at $0.36 EPS, Q2 2018 earnings at $0.41 EPS, Q3 2018 earnings at $0.47 EPS, Q4 2018 earnings at $0.44 EPS and FY2018 earnings at $1.68 EPS.

NAVI has been the subject of a number of other research reports. Credit Suisse Group upgraded shares of Navient Corporation from a “neutral” rating to an “outperform” rating and set a $16.50 price objective for the company in a report on Friday, September 8th. Zacks Investment Research upgraded shares of Navient Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, September 19th. Citigroup Inc. started coverage on shares of Navient Corporation in a report on Monday. They issued a “buy” rating and a $20.00 price objective for the company. BidaskClub downgraded shares of Navient Corporation from a “hold” rating to a “sell” rating in a report on Saturday, August 5th. Finally, Jefferies Group LLC reiterated a “hold” rating and issued a $16.00 price objective on shares of Navient Corporation in a report on Monday. Two analysts have rated the stock with a sell rating, six have given a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $18.45.

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Navient Corporation (NASDAQ:NAVI) opened at 12.20 on Tuesday. The stock has a market cap of $3.34 billion, a price-to-earnings ratio of 6.32 and a beta of 2.48. Navient Corporation has a 52-week low of $11.48 and a 52-week high of $17.95. The company has a 50-day moving average price of $13.78 and a 200 day moving average price of $14.70.

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

Navient Corporation declared that its board has authorized a share buyback program on Wednesday, October 4th that authorizes the company to buyback shares. This buyback authorization authorizes the credit services provider to buy shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its stock is undervalued.

In other news, EVP John M. Kane sold 28,886 shares of the stock in a transaction that occurred on Tuesday, September 26th. The shares were sold at an average price of $15.00, for a total value of $433,290.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.68% of the company’s stock.

Institutional investors have recently bought and sold shares of the company. Ameritas Investment Partners Inc. purchased a new stake in shares of Navient Corporation in the 1st quarter valued at approximately $112,000. Creative Planning grew its stake in shares of Navient Corporation by 7.2% in the 2nd quarter. Creative Planning now owns 7,066 shares of the credit services provider’s stock valued at $118,000 after buying an additional 472 shares during the period. Ffcm LLC grew its stake in shares of Navient Corporation by 144.5% in the 2nd quarter. Ffcm LLC now owns 7,071 shares of the credit services provider’s stock valued at $119,000 after buying an additional 4,179 shares during the period. Bronfman E.L. Rothschild L.P. grew its stake in shares of Navient Corporation by 8.8% in the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 7,564 shares of the credit services provider’s stock valued at $126,000 after buying an additional 612 shares during the period. Finally, Jane Street Group LLC purchased a new stake in shares of Navient Corporation in the 1st quarter valued at approximately $153,000. 93.01% of the stock is owned by institutional investors and hedge funds.

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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