SLM (NASDAQ:SLM – Get Free Report) announced its quarterly earnings results on Wednesday. The credit services provider reported $1.27 EPS for the quarter, beating analysts’ consensus estimates of $1.09 by $0.18, RTT News reports. SLM had a return on equity of 47.72% and a net margin of 25.15%. The company had revenue of $837.72 million during the quarter, compared to analyst estimates of $376.43 million. During the same period in the prior year, the company earned $0.47 earnings per share. SLM updated its FY24 guidance to $2.60-$2.70 EPS and its FY 2024 guidance to 2.600-2.700 EPS.
SLM Stock Performance
Shares of SLM traded up $0.01 during midday trading on Friday, reaching $21.94. 455,288 shares of the stock were exchanged, compared to its average volume of 2,134,993. The business’s 50-day moving average price is $20.91 and its 200 day moving average price is $18.17. The company has a debt-to-equity ratio of 3.21, a current ratio of 1.22 and a quick ratio of 1.22. SLM has a twelve month low of $12.26 and a twelve month high of $22.37. The company has a market capitalization of $4.83 billion, a price-to-earnings ratio of 6.85, a PEG ratio of 0.45 and a beta of 1.16.
SLM Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Thursday, June 6th will be given a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 2.01%. The ex-dividend date is Wednesday, June 5th. SLM’s dividend payout ratio (DPR) is currently 13.75%.
Insider Activity at SLM
SLM announced that its board has approved a share buyback program on Wednesday, January 24th that permits the company to buyback $650.00 million in outstanding shares. This buyback authorization permits the credit services provider to reacquire up to 14.5% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its shares are undervalued.
Analyst Ratings Changes
A number of research firms have recently weighed in on SLM. TheStreet raised SLM from a “c+” rating to a “b” rating in a research report on Wednesday, January 24th. Royal Bank of Canada increased their price objective on SLM from $24.00 to $25.00 and gave the stock an “outperform” rating in a research report on Thursday. Deutsche Bank Aktiengesellschaft initiated coverage on SLM in a research report on Wednesday, January 10th. They issued a “buy” rating and a $25.00 price objective for the company. Wedbush increased their price objective on SLM from $26.00 to $28.00 and gave the stock an “outperform” rating in a research report on Thursday. Finally, Wells Fargo & Company raised their price target on SLM from $22.00 to $24.00 and gave the stock an “overweight” rating in a research report on Thursday, April 18th. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $21.32.
Read Our Latest Research Report on SLM
About SLM
SLM Corporation, through its subsidiaries, originates and services private education loans to students and their families to finance the cost of their education in the United States. It is also involved in the provision of retail deposit accounts, including certificates of deposit, money market accounts, and high-yield savings accounts; and interest-bearing omnibus accounts.
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