Navient Corporation (NASDAQ:NAVI) had its price target trimmed by Credit Suisse Group from $16.50 to $16.00 in a research note released on Wednesday. The brokerage currently has an outperform rating on the credit services provider’s stock.
A number of other equities analysts have also commented on NAVI. Keefe, Bruyette & Woods reaffirmed a buy rating and issued a $20.00 price objective on shares of Navient Corporation in a research note on Friday, July 14th. BMO Capital Markets reaffirmed a hold rating and issued a $16.00 price objective (down from $17.00) on shares of Navient Corporation in a research note on Thursday, July 20th. Zacks Investment Research raised Navient Corporation from a sell rating to a hold rating in a research note on Tuesday, September 19th. BidaskClub lowered Navient Corporation from a buy rating to a hold rating in a research note on Monday, July 24th. Finally, Stifel Nicolaus lifted their price objective on Navient Corporation from $24.00 to $26.00 and gave the stock a hold rating in a research note on Monday, June 12th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of Hold and a consensus target price of $18.30.
Shares of Navient Corporation (NASDAQ NAVI) traded down 0.04% during mid-day trading on Wednesday, hitting $12.60. The stock had a trading volume of 5,211,023 shares. The stock’s 50-day moving average is $14.00 and its 200-day moving average is $14.77. The firm has a market capitalization of $3.45 billion, a PE ratio of 6.53 and a beta of 2.48. Navient Corporation has a 1-year low of $12.51 and a 1-year high of $17.95.
Navient Corporation (NASDAQ:NAVI) last posted its quarterly earnings data on Tuesday, July 18th. The credit services provider reported $0.43 EPS for the quarter, topping the Zacks’ consensus estimate of $0.41 by $0.02. The company had revenue of $343.00 million for the quarter, compared to analyst estimates of $331.67 million. Navient Corporation had a return on equity of 14.05% and a net margin of 11.50%. The firm’s quarterly revenue was down 15.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.47 earnings per share. Equities analysts expect that Navient Corporation will post $1.75 earnings per share for the current year.
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Navient Corporation declared that its Board of Directors has initiated a stock buyback plan on Wednesday, October 4th that allows the company to repurchase outstanding shares. This repurchase authorization allows the credit services provider to repurchase shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its shares are undervalued.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Friday, September 1st were paid a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 5.08%. The ex-dividend date was Wednesday, August 30th. Navient Corporation’s dividend payout ratio (DPR) is presently 33.68%.
In other Navient Corporation news, EVP John M. Kane sold 28,886 shares of the business’s stock in a transaction that occurred on Tuesday, September 26th. The stock was sold at an average price of $15.00, for a total value of $433,290.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 1.68% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently modified their holdings of the business. Ameritas Investment Partners Inc. acquired a new position in Navient Corporation in the first quarter valued at approximately $112,000. Creative Planning lifted its stake in Navient Corporation by 7.2% in the second quarter. Creative Planning now owns 7,066 shares of the credit services provider’s stock valued at $118,000 after buying an additional 472 shares during the period. Ffcm LLC lifted its stake in Navient Corporation by 144.5% in the second quarter. Ffcm LLC now owns 7,071 shares of the credit services provider’s stock valued at $119,000 after buying an additional 4,179 shares during the period. Bronfman E.L. Rothschild L.P. lifted its stake in Navient Corporation by 8.8% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 7,564 shares of the credit services provider’s stock valued at $126,000 after buying an additional 612 shares during the period. Finally, Jane Street Group LLC acquired a new position in Navient Corporation in the first quarter valued at approximately $153,000. 93.02% of the stock is currently owned by hedge funds and other institutional investors.
About Navient Corporation
Navient Corporation provides asset management and business processing services to education, healthcare and government clients at the federal, state and local levels. The Company holds the portfolio of education loans insured or federally guaranteed under the Federal Family Education Loan Program (FFELP).
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