Navient (NASDAQ:NAVI) Issues FY 2024 Earnings Guidance

Navient (NASDAQ:NAVI) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided EPS guidance of 2.450-2.500 for the period, compared to the consensus EPS estimate of 1.380. The company issued revenue guidance of -.

Navient Trading Down 1.7 %

Navient stock traded down $0.24 during midday trading on Friday, hitting $13.99. 702,822 shares of the stock were exchanged, compared to its average volume of 490,483. The company has a fifty day simple moving average of $15.58 and a two-hundred day simple moving average of $15.28. Navient has a 52 week low of $13.95 and a 52 week high of $19.68. The stock has a market capitalization of $1.50 billion, a PE ratio of 20.28 and a beta of 1.39. The company has a quick ratio of 9.99, a current ratio of 9.49 and a debt-to-equity ratio of 16.59.

Navient (NASDAQ:NAVI) last announced its quarterly earnings results on Wednesday, October 30th. The credit services provider reported $1.45 earnings per share for the quarter, beating analysts’ consensus estimates of $0.25 by $1.20. Navient had a net margin of 1.71% and a return on equity of 8.62%. The firm had revenue of $1.22 billion for the quarter, compared to analyst estimates of $150.04 million. During the same quarter in the previous year, the firm posted $0.84 earnings per share. Equities research analysts anticipate that Navient will post 1.39 EPS for the current fiscal year.

Navient Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Friday, September 6th were issued a $0.16 dividend. The ex-dividend date was Friday, September 6th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 4.57%. Navient’s dividend payout ratio (DPR) is presently 92.75%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on NAVI. StockNews.com upgraded shares of Navient from a “hold” rating to a “buy” rating in a report on Friday. Barclays lifted their price objective on shares of Navient from $10.00 to $11.00 and gave the stock an “underweight” rating in a research report on Tuesday, October 8th. Keefe, Bruyette & Woods lifted their price objective on shares of Navient from $15.00 to $16.00 and gave the stock a “market perform” rating in a research report on Thursday, July 25th. JPMorgan Chase & Co. lifted their price objective on shares of Navient from $15.00 to $16.00 and gave the stock a “neutral” rating in a research report on Monday, October 7th. Finally, Bank of America started coverage on shares of Navient in a research report on Monday, September 30th. They set a “neutral” rating and a $17.00 price objective for the company. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, Navient presently has an average rating of “Hold” and an average target price of $15.78.

Navient Company Profile

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.