Navient Corporation (NAVI) Updates Q4 Earnings Guidance

Navient Corporation (NASDAQ:NAVI) updated its fourth quarter earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $0.40 for the period, compared to the Thomson Reuters consensus estimate of $0.43.

Several research firms have weighed in on NAVI. Zacks Investment Research upgraded shares of Navient Corporation from a strong sell rating to a hold rating in a report on Monday. BMO Capital Markets decreased their price objective on shares of Navient Corporation from $16.00 to $14.00 and set a market perform rating on the stock in a report on Thursday, October 19th. Jefferies Group LLC reaffirmed a hold rating and set a $16.00 target price on shares of Navient Corporation in a research note on Monday, October 16th. Citigroup Inc. assumed coverage on shares of Navient Corporation in a research note on Monday, October 16th. They set a buy rating and a $20.00 target price on the stock. Finally, Compass Point downgraded shares of Navient Corporation from a buy rating to a neutral rating and cut their target price for the stock from $16.50 to $15.50 in a research note on Thursday, October 5th. One equities research analyst has rated the stock with a sell rating, seven have issued 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 price target of $18.27.

Shares of Navient Corporation (NASDAQ NAVI) traded down 0.25% during mid-day trading on Friday, reaching $11.92. 1,762,567 shares of the company were exchanged. The company’s 50-day moving average is $13.44 and its 200 day moving average is $14.55. Navient Corporation has a 12 month low of $11.48 and a 12 month high of $17.95. The firm has a market capitalization of $3.23 billion, a price-to-earnings ratio of 6.59 and a beta of 2.48.

Navient Corporation (NASDAQ:NAVI) last issued its earnings results on Tuesday, October 17th. The credit services provider reported $0.55 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.50 by $0.05. Navient Corporation had a return on equity of 14.09% and a net margin of 10.88%. The firm had revenue of $343.00 million for the quarter, compared to analysts’ expectations of $361.33 million. During the same quarter last year, the business earned $0.50 earnings per share. The company’s revenue was down 15.3% compared to the same quarter last year. Analysts predict that Navient Corporation will post $1.75 EPS for the current year.

Navient Corporation declared that its board has authorized a stock buyback plan on Wednesday, October 4th that allows the company to buyback outstanding shares. This buyback authorization allows the credit services provider to reacquire shares of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

In other news, CFO Christian M. Lown bought 6,000 shares of the company’s stock in a transaction that occurred on Friday, October 20th. The shares were acquired at an average price of $12.35 per share, with a total value of $74,100.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP John M. Kane sold 28,886 shares of Navient Corporation 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 disclosure for this sale can be found here. 1.68% of the stock is currently owned by company insiders.

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Navient Corporation Company Profile

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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