Wedbush Analysts Increase Earnings Estimates for SLM Corp (SLM)

SLM Corp (NASDAQ:SLM) – Wedbush increased their Q3 2018 earnings per share estimates for shares of SLM in a note issued to investors on Tuesday, October 16th. Wedbush analyst H. Coffey now anticipates that the credit services provider will earn $0.25 per share for the quarter, up from their prior estimate of $0.24. Wedbush also issued estimates for SLM’s Q4 2018 earnings at $0.26 EPS.

A number of other research firms also recently weighed in on SLM. Stephens initiated coverage on SLM in a research note on Monday, July 9th. They issued an “overweight” rating and a $15.00 price target on the stock. Zacks Investment Research raised SLM from a “sell” rating to a “hold” rating in a research note on Tuesday, September 11th. Wells Fargo & Co set a $14.00 price target on SLM and gave the company a “buy” rating in a research note on Friday, July 6th. BidaskClub downgraded SLM from a “hold” rating to a “sell” rating in a research note on Friday, September 28th. Finally, ValuEngine raised SLM from a “sell” rating to a “hold” rating in a research note on Friday, August 10th. Three analysts have rated the stock with a sell rating, one has assigned a hold rating and nine have issued a buy rating to the company’s stock. SLM currently has a consensus rating of “Hold” and a consensus target price of $14.66.

NASDAQ:SLM opened at $10.58 on Friday. SLM has a 52-week low of $9.65 and a 52-week high of $12.46. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.41 and a current ratio of 1.41. The firm has a market cap of $4.62 billion, a price-to-earnings ratio of 14.79, a PEG ratio of 0.54 and a beta of 1.18.

SLM (NASDAQ:SLM) last posted its quarterly earnings data on Tuesday, July 24th. The credit services provider reported $0.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.02. SLM had a return on equity of 18.48% and a net margin of 21.69%. The firm had revenue of $340.95 million for the quarter, compared to the consensus estimate of $333.28 million. During the same quarter in the prior year, the business earned $0.16 EPS. The business’s revenue for the quarter was up 26.3% compared to the same quarter last year.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Xact Kapitalforvaltning AB lifted its stake in SLM by 7.7% in the 3rd quarter. Xact Kapitalforvaltning AB now owns 67,079 shares of the credit services provider’s stock valued at $748,000 after purchasing an additional 4,800 shares during the last quarter. BB&T Corp acquired a new stake in shares of SLM in the third quarter valued at approximately $127,000. NJ State Employees Deferred Compensation Plan raised its position in shares of SLM by 25.0% in the third quarter. NJ State Employees Deferred Compensation Plan now owns 50,000 shares of the credit services provider’s stock valued at $558,000 after buying an additional 10,000 shares in the last quarter. First Hawaiian Bank acquired a new stake in shares of SLM in the third quarter valued at approximately $764,000. Finally, State of New Jersey Common Pension Fund D raised its position in shares of SLM by 16.7% in the third quarter. State of New Jersey Common Pension Fund D now owns 2,100,000 shares of the credit services provider’s stock valued at $23,415,000 after buying an additional 300,000 shares in the last quarter.

In other SLM news, EVP Paul F. Thome sold 22,104 shares of the stock in a transaction dated Friday, August 3rd. The stock was sold at an average price of $11.13, for a total transaction of $246,017.52. Following the completion of the transaction, the executive vice president now owns 183,383 shares in the company, valued at approximately $2,041,052.79. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.36% of the company’s stock.

About SLM

SLM Corporation, together with its subsidiaries, operates as a saving, planning, and paying for college company in the United States. The company originates and services private education loans to students and their families. Its loan portfolio also includes federal family education loan program, personal, and other loans.

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Earnings History and Estimates for SLM (NASDAQ:SLM)

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