Navient (NASDAQ:NAVI) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Tuesday.
According to Zacks, “Shares of Navient have outperformed the industry so far this year. Also, the company has an impressive earnings surprise history. It surpassed the Zacks Consensus Estimate for earnings in three of the trailing four quarters. The company remains well poised to benefit from the ongoing economic recovery and remains focused on leveraging its asset recovery & processing businesses. Though, the company's inorganic growth strategies of diversifying product offerings and boosting overall business encourage us, it continues to struggle with regulatory claims and litigation burden owing to its practices in handling large number of student loans.”
NAVI has been the topic of a number of other reports. ValuEngine upgraded shares of Navient from a “sell” rating to a “hold” rating in a research report on Tuesday, September 18th. Wedbush upgraded shares of Navient from a “neutral” rating to an “outperform” rating and upped their target price for the stock from $14.50 to $15.75 in a research report on Friday, June 1st. Finally, BidaskClub lowered shares of Navient from a “buy” rating to a “hold” rating in a research report on Wednesday, June 13th. Three analysts have rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company. Navient currently has a consensus rating of “Hold” and a consensus target price of $16.09.
Shares of NAVI stock opened at $13.59 on Tuesday. Navient has a 1 year low of $11.48 and a 1 year high of $15.61. The company has a market cap of $3.70 billion, a PE ratio of 7.59 and a beta of 2.15. The company has a current ratio of 21.92, a quick ratio of 21.92 and a debt-to-equity ratio of 26.35.
Navient (NASDAQ:NAVI) last announced its earnings results on Tuesday, July 24th. The credit services provider reported $0.52 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.47 by $0.05. Navient had a net margin of 5.72% and a return on equity of 13.95%. The company had revenue of $330.00 million for the quarter, compared to analyst estimates of $314.00 million. During the same period in the prior year, the business earned $0.43 earnings per share. Navient’s quarterly revenue was down 3.8% on a year-over-year basis. research analysts predict that Navient will post 1.92 EPS for the current year.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Bank of New York Mellon Corp lifted its holdings in Navient by 25.5% in the second quarter. Bank of New York Mellon Corp now owns 3,937,215 shares of the credit services provider’s stock valued at $51,301,000 after buying an additional 799,292 shares during the period. Advisors Asset Management Inc. lifted its holdings in Navient by 20.7% in the second quarter. Advisors Asset Management Inc. now owns 30,473 shares of the credit services provider’s stock valued at $397,000 after buying an additional 5,233 shares during the period. Public Employees Retirement System of Ohio lifted its holdings in Navient by 10.6% in the second quarter. Public Employees Retirement System of Ohio now owns 146,763 shares of the credit services provider’s stock valued at $1,912,000 after buying an additional 14,053 shares during the period. Verition Fund Management LLC lifted its holdings in Navient by 714.1% in the second quarter. Verition Fund Management LLC now owns 96,191 shares of the credit services provider’s stock valued at $1,253,000 after buying an additional 84,375 shares during the period. Finally, Sapience Investments LLC acquired a new position in Navient in the second quarter valued at approximately $10,344,000. Institutional investors and hedge funds own 91.83% of the company’s stock.
Navient Company Profile
Navient Corporation provides asset management and business processing services to education, health care, and government clients at the federal, state, and local levels in the United States. The company operates in three segments: Federal Family Education Loan Program (FFELP) Loans, Private Education Loans, and Business Services.
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