Navient (NASDAQ:NAVI) Releases FY 2024 Earnings Guidance

Navient (NASDAQ:NAVI) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided earnings per share guidance of 1.550-1.750 for the period, compared to the consensus earnings per share estimate of 2.110. The company issued revenue guidance of -.

Analyst Upgrades and Downgrades

NAVI has been the subject of several analyst reports. JPMorgan Chase & Co. reduced their target price on Navient from $17.00 to $16.00 and set a neutral rating for the company in a report on Thursday. StockNews.com cut shares of Navient from a buy rating to a hold rating in a research note on Thursday, February 1st. Citigroup lifted their target price on shares of Navient from $17.00 to $18.00 and gave the stock a neutral rating in a report on Thursday, February 1st. Barclays cut their target price on shares of Navient from $13.00 to $11.00 and set an underweight rating for the company in a research report on Thursday. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Navient in a research report on Wednesday, January 10th. They issued a hold rating and a $19.00 price objective for the company. Three research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of Hold and a consensus target price of $16.10.

Navient Price Performance

Shares of NASDAQ:NAVI remained flat at $15.76 during midday trading on Friday. The stock had a trading volume of 343,523 shares, compared to its average volume of 921,523. The stock’s fifty day simple moving average is $16.56 and its two-hundred day simple moving average is $17.10. The company has a market capitalization of $1.77 billion, a P/E ratio of 10.13 and a beta of 1.38. The company has a quick ratio of 13.63, a current ratio of 12.52 and a debt-to-equity ratio of 18.38. Navient has a 52 week low of $14.10 and a 52 week high of $19.69.

Navient (NASDAQ:NAVI) last announced its earnings results on Wednesday, April 24th. The credit services provider reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.58 by $0.05. The company had revenue of $163.00 million for the quarter, compared to analyst estimates of $188.04 million. Navient had a net margin of 3.93% and a return on equity of 12.09%. On average, analysts forecast that Navient will post 1.65 earnings per share for the current fiscal year.

Navient Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were given a dividend of $0.16 per share. The ex-dividend date was Thursday, February 29th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 4.06%. Navient’s payout ratio is currently 41.03%.

Insider Activity at Navient

In other Navient news, EVP Mark L. Heleen sold 10,000 shares of the business’s stock in a transaction dated Wednesday, January 31st. The stock was sold at an average price of $17.20, for a total transaction of $172,000.00. Following the completion of the sale, the executive vice president now directly owns 385,577 shares of the company’s stock, valued at approximately $6,631,924.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 27.99% of the stock is owned by company insiders.

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.