Navient Corporation (NASDAQ:NAVI) Receives $9.14 Consensus PT from Analysts

Navient Corporation (NASDAQ:NAVI) has been assigned an average recommendation of “Reduce” from the nine analysts that are presently covering the stock, MarketBeat.com reports. Four equities research analysts have rated the stock with a sell recommendation and five have issued a hold recommendation on the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $9.1429.

NAVI has been the subject of a number of recent analyst reports. Bank of America initiated coverage on shares of Navient in a report on Monday, April 20th. They set an “underperform” rating and a $7.00 price target for the company. TD Cowen decreased their price objective on shares of Navient from $9.00 to $8.50 and set a “sell” rating on the stock in a research note on Tuesday, July 7th. Barclays boosted their price objective on shares of Navient from $7.00 to $8.00 and gave the company an “underweight” rating in a research report on Thursday, April 30th. Zacks Research upgraded Navient from a “strong sell” rating to a “hold” rating in a research note on Monday, March 30th. Finally, Morgan Stanley reduced their target price on Navient from $12.00 to $9.00 and set an “equal weight” rating on the stock in a report on Thursday, April 16th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in NAVI. GAMMA Investing LLC increased its position in Navient by 70.5% during the 4th quarter. GAMMA Investing LLC now owns 1,978 shares of the credit services provider’s stock valued at $26,000 after purchasing an additional 818 shares during the period. Parallel Advisors LLC lifted its position in shares of Navient by 325.6% in the 1st quarter. Parallel Advisors LLC now owns 5,005 shares of the credit services provider’s stock worth $41,000 after purchasing an additional 3,829 shares during the period. Versant Capital Management Inc lifted its position in shares of Navient by 552.6% in the 2nd quarter. Versant Capital Management Inc now owns 4,855 shares of the credit services provider’s stock worth $41,000 after purchasing an additional 4,111 shares during the period. Kestra Advisory Services LLC bought a new stake in shares of Navient in the 4th quarter valued at $44,000. Finally, PNC Financial Services Group Inc. boosted its stake in shares of Navient by 39.2% in the 4th quarter. PNC Financial Services Group Inc. now owns 4,228 shares of the credit services provider’s stock valued at $55,000 after purchasing an additional 1,191 shares during the last quarter. Institutional investors and hedge funds own 97.14% of the company’s stock.

Navient Stock Down 2.5%

NAVI opened at $8.23 on Thursday. Navient has a fifty-two week low of $7.33 and a fifty-two week high of $14.20. The company has a debt-to-equity ratio of 16.49, a quick ratio of 7.67 and a current ratio of 7.67. The company has a market capitalization of $773.54 million, a P/E ratio of -13.06 and a beta of 1.19. The stock has a fifty day moving average of $8.28 and a 200-day moving average of $9.04.

Navient (NASDAQ:NAVI) last announced its earnings results on Tuesday, April 28th. The credit services provider reported $0.20 EPS for the quarter, topping the consensus estimate of $0.17 by $0.03. The company had revenue of $152.00 million for the quarter, compared to analysts’ expectations of $141.47 million. Navient had a negative net margin of 1.94% and a positive return on equity of 4.39%. During the same period last year, the firm earned $0.25 earnings per share. On average, equities analysts expect that Navient will post 0.71 EPS for the current year.

Navient Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 19th. Shareholders of record on Friday, June 5th were paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 7.8%. The ex-dividend date of this dividend was Friday, June 5th. Navient’s payout ratio is presently -101.59%.

About Navient

Navient Corporation (NASDAQ: NAVI) is a specialized provider of asset management and business processing solutions, with a primary focus on student loan servicing. Established in 2014 through the separation from Sallie Mae, Navient assumed responsibility for servicing federal and private education loans, positioning itself as one of the largest servicers of higher education debt in the United States.

The company’s core activities center on federal student loan servicing under contracts with the U.S.