Navient (NASDAQ:NAVI) Releases FY 2024 Earnings Guidance

Navient (NASDAQ:NAVI) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided earnings per share guidance of 2.450-2.500 for the period, compared to the consensus earnings per share estimate of 1.380. The company issued revenue guidance of -.

Navient Trading Down 1.7 %

NAVI stock traded down $0.24 during mid-day trading on Friday, reaching $13.99. 702,822 shares of the stock traded hands, compared to its average volume of 490,483. The stock’s fifty day moving average is $15.58 and its 200-day moving average is $15.28. The company has a market cap of $1.50 billion, a P/E ratio of 20.28 and a beta of 1.39. The company has a current ratio of 9.49, a quick ratio of 9.99 and a debt-to-equity ratio of 16.59. Navient has a 52-week low of $13.95 and a 52-week high of $19.68.

Navient (NASDAQ:NAVI) last announced its quarterly earnings data on Wednesday, October 30th. The credit services provider reported $1.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $1.20. Navient had a return on equity of 8.62% and a net margin of 1.71%. The firm had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $150.04 million. During the same period in the prior year, the business earned $0.84 EPS. As a group, sell-side analysts expect that Navient will post 1.39 earnings per share for the current year.

Navient Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Investors of record on Friday, September 6th were paid a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 4.57%. The ex-dividend date was Friday, September 6th. Navient’s payout ratio is presently 92.75%.

Analyst Ratings Changes

Several research firms have recently issued reports on NAVI. StockNews.com upgraded Navient from a “hold” rating to a “buy” rating in a research note on Friday. Barclays upped their price objective on shares of Navient from $10.00 to $11.00 and gave the stock an “underweight” rating in a report on Tuesday, October 8th. JPMorgan Chase & Co. upped their price target on shares of Navient from $15.00 to $16.00 and gave the company a “neutral” rating in a report on Monday, October 7th. Keefe, Bruyette & Woods lifted their price objective on Navient from $15.00 to $16.00 and gave the stock a “market perform” rating in a research note on Thursday, July 25th. Finally, TD Cowen cut their price objective on shares of Navient from $14.00 to $13.00 and set a “sell” rating for the company in a research report on Friday. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, Navient has an average rating of “Hold” and a consensus price target of $15.78.

About Navient

Navient Corporation provides technology-enabled education finance and business processing solutions for education, health care, and government clients in the United States. It operates through three segments: Federal Education Loans, Consumer Lending, and Business Processing. The company owns Federal Family Education Loan Program (FFELP) loans that are insured or guaranteed by state or not-for-profit agencies; and performs servicing on its portfolios, as well as federal education loans held by other institutions.