SLM (SLM) to Release Quarterly Earnings on Wednesday

SLM (NASDAQ:SLM) is set to issue its quarterly earnings data after the market closes on Wednesday, October 23rd. Analysts expect the company to announce earnings of $0.07 per share for the quarter. SLM has set its FY24 guidance at $2.70-2.80 EPS and its FY 2024 guidance at 2.700-2.800 EPS.Individual interested in participating in the company’s earnings conference call can do so using this link.

SLM (NASDAQ:SLM) last released its quarterly earnings results on Wednesday, July 24th. The credit services provider reported $1.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.79 by $0.32. SLM had a net margin of 24.67% and a return on equity of 41.84%. The company had revenue of $783.28 million during the quarter, compared to the consensus estimate of $368.97 million. During the same period in the prior year, the firm earned $1.10 earnings per share. On average, analysts expect SLM to post $3 EPS for the current fiscal year and $3 EPS for the next fiscal year.

SLM Price Performance

SLM stock opened at $22.95 on Tuesday. SLM has a 1 year low of $12.26 and a 1 year high of $23.95. The company has a market cap of $4.99 billion, a P/E ratio of 7.15, a PEG ratio of 0.60 and a beta of 1.15. The firm has a 50-day moving average of $21.76 and a 200 day moving average of $21.46. The company has a debt-to-equity ratio of 2.66, a current ratio of 1.26 and a quick ratio of 1.26.

Insider Activity

In related news, Director Robert S. Strong sold 4,500 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $22.70, for a total value of $102,150.00. Following the sale, the director now owns 101,093 shares in the company, valued at approximately $2,294,811.10. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.20% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Barclays increased their price target on shares of SLM from $23.00 to $27.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 8th. JPMorgan Chase & Co. decreased their target price on shares of SLM from $25.00 to $24.00 and set a “neutral” rating for the company in a research note on Monday, October 7th. Wedbush decreased their target price on shares of SLM from $29.00 to $26.00 and set an “outperform” rating for the company in a research note on Tuesday, September 24th. Bank of America started coverage on shares of SLM in a research note on Wednesday, September 25th. They set a “buy” rating and a $27.00 target price for the company. Finally, Royal Bank of Canada raised their target price on shares of SLM from $25.00 to $27.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Two equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $24.83.

About SLM

SLM Corporation, through its subsidiaries, originates and services private education loans to students and their families to finance the cost of their education in the United States. It is also involved in the provision of retail deposit accounts, including certificates of deposit, money market accounts, and high-yield savings accounts; and interest-bearing omnibus accounts.