Navient (NASDAQ:NAVI) Issues Earnings Results, Misses Estimates By $0.10 EPS

Navient (NASDAQ:NAVI) issued its quarterly earnings results on Wednesday. The credit services provider reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.10), Zacks reports. Navient had a negative net margin of 1.64% and a positive return on equity of 4.68%. The business had revenue of $308.00 million during the quarter, compared to analyst estimates of $144.92 million. During the same quarter in the previous year, the firm posted ($0.84) earnings per share.

Navient Stock Performance

Shares of NAVI opened at $9.07 on Thursday. The firm has a 50-day moving average of $9.20 and a 200-day moving average of $8.91. Navient has a one year low of $7.33 and a one year high of $13.48. The company has a market cap of $850.62 million, a PE ratio of -18.14 and a beta of 1.17. The company has a debt-to-equity ratio of 16.73, a current ratio of 10.53 and a quick ratio of 10.53.

Navient Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 18th. Stockholders of record on Friday, September 4th were given a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 7.1%. The ex-dividend date of this dividend was Friday, September 4th. Navient’s dividend payout ratio (DPR) is -128.00%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on NAVI. JPMorgan Chase & Co. raised their price objective on Navient from $8.00 to $8.50 and gave the company a “neutral” rating in a report on Monday, October 12th. Zacks Research upgraded Navient from a “hold” rating to a “strong-buy” rating in a report on Monday, October 12th. Barclays reduced their price target on Navient from $8.00 to $7.00 and set an “underweight” rating for the company in a research report on Monday, October 5th. TD Cowen restated a “sell” rating on shares of Navient in a research note on Friday, August 7th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Navient in a research note on Monday, September 21st. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Hold rating and four have issued a Sell rating to the company’s stock. According to MarketBeat.com, Navient presently has a consensus rating of “Reduce” and a consensus price target of $8.17.

About Navient

Navient Corp. (NASDAQ:NAVI) is a financial services company that provides education finance and business-processing solutions. The company has historically serviced and managed federal and private student loans, helping borrowers with account administration, repayment processing, customer support and related loan-management services.

Navient’s operations have evolved as the company reduced its role in servicing federally owned student loans. In 2021, it transferred its federal student loan servicing portfolio to Aidvantage, a division of Maximus.