Navient (NASDAQ: NAVI) Reports Quarterly Results, Beats $ 0.07 Per Share Estimate

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Navient (NASDAQ: NAVI) released its results on Tuesday. The credit services provider reported earnings of $ 0.89 per share for the quarter, beating Thomson Reuters’ consensus estimate of $ 0.82 per $ 0.07, reports Fidelity Earnings. The company posted revenue of $ 299.00 million for the quarter, compared to analysts’ estimates of $ 269.99 million. Navient had a net margin of 25.84% and a return on equity of 32.60%. The company’s quarterly revenue is down 6.9% from the same quarter last year. In the same quarter of the previous year, the company achieved EPS of $ 0.99.

NAVI shares traded down $ 0.26 at midday on Wednesday, reaching $ 19.34. 56,816 shares of the company were traded in the hands, compared to its average volume of 1,958,193. Navient has a 12-month low of $ 7.89 and a 12-month high of $ 23.80. The stock has a market cap of $ 3.25 billion, a P / E ratio of 3.81 and a beta of 1.82. The stock’s 50-day moving average is $ 21.74 and its two-hundred-day moving average is $ 19.40. The company has a debt to equity ratio of 27.96, a current ratio of 19.43 and a rapid ratio of 19.43.

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 17. Shareholders of record on Friday September 3 received a dividend of $ 0.16 per share. The ex-dividend date of this dividend was Thursday, September 2. This represents a dividend of $ 0.64 on an annualized basis and a return of 3.31%. Navient’s dividend payout ratio (DPR) is currently 19.75%.

A hedge fund recently increased its stake in Navient stock. Morgan Stanley increased its stake in shares of Navient Co. (NASDAQ: NAVI) by 224.3% in the 2nd quarter, according to its latest filing with the Securities and Exchange Commission. The institutional investor held 1,119,626 shares of the credit service provider after acquiring an additional 774,347 shares during the quarter. Morgan Stanley owned approximately 0.67% of Navient for a value of $ 21,642,000 at the end of the most recent reporting period. 87.36% of the shares are currently held by institutional investors and hedge funds.

Several equity analysts recently weighed on NAVI stocks. Keefe, Bruyette & Woods downgraded Navient shares from an “outperformance” rating to a “market performance” rating and raised their target price for the company from $ 19.00 to $ 20.00 in a note research on Tuesday July 6. Stephens raised its price target on Navient from $ 18.00 to $ 22.00 and gave the company an “overweight” rating in a research report released Thursday, July 29. Citigroup downgraded Navient from a “buy” rating to a “neutral” rating and increased its price target for the share from $ 19.00 to $ 21.00 in a report released Thursday, July 29. Zacks Investment Research downgraded Navient from a “strong buy” rating to a “conservation” rating and set a target price of $ 20.00 on the stock. in a research note on Tuesday, June 29. Finally, Wedbush raised its price target on Navient from $ 19.00 to $ 25.00 and gave the stock an “outperformance” rating in a report published on Monday August 2nd. Seven investment analysts rated the stock with a conservation rating and four issued a buy rating for the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $ 20.72.

About Navient

Navient Corp. is committed to providing asset management and business processing solutions for education, healthcare and government clients at the federal, state and local levels. It operates in the following segments: Federal Education Loans, Consumer Loans, Business Processing and Others. The Federal Education Loans segment holds the FFELP loans and provides asset management and recovery services on the FFELP loan portfolio.

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Earnings History for Navient (NASDAQ: NAVI)

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