Navient Corporation (NASDAQ:NAVI)‘s stock had its “overweight” rating reissued by Barclays PLC in a research note issued on Tuesday. They currently have a $17.00 price target on the credit services provider’s stock. Barclays PLC’s price target would suggest a potential upside of 34.81% from the stock’s previous close.
Other research analysts have also issued research reports about the company. BidaskClub lowered Navient Corporation from a “buy” rating to a “hold” rating in a research report on Monday, July 24th. Jefferies Group LLC restated a “hold” rating and set a $16.00 price objective on shares of Navient Corporation in a research report on Friday, July 21st. Compass Point lowered Navient Corporation from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $16.50 to $15.50 in a research report on Thursday, October 5th. Zacks Investment Research upgraded Navient Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, September 13th. Finally, BMO Capital Markets reiterated a “hold” rating and set a $16.00 price target (down previously from $17.00) on shares of Navient Corporation in a research report on Thursday, July 20th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $18.00.
Shares of Navient Corporation (NAVI) traded up $0.26 during midday trading on Tuesday, hitting $12.61. The stock had a trading volume of 5,210,500 shares, compared to its average volume of 2,829,209. Navient Corporation has a 1-year low of $11.48 and a 1-year high of $17.95. The company has a quick ratio of 33.10, a current ratio of 33.10 and a debt-to-equity ratio of 30.58. The company has a market cap of $3,248.20, a P/E ratio of 6.98 and a beta of 2.39.
Navient Corporation (NASDAQ:NAVI) last issued its quarterly earnings results on Tuesday, October 17th. The credit services provider reported $0.55 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.50 by $0.05. Navient Corporation had a return on equity of 14.09% and a net margin of 10.88%. The business had revenue of $343.00 million during the quarter, compared to the consensus estimate of $361.33 million. During the same period in the previous year, the business earned $0.50 EPS. The business’s quarterly revenue was down 15.3% on a year-over-year basis. research analysts forecast that Navient Corporation will post 1.76 EPS for the current year.
Navient Corporation announced that its board has approved a share buyback program on Wednesday, October 4th that permits the company to repurchase outstanding shares. This repurchase authorization permits the credit services provider to reacquire shares of its stock through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its shares are undervalued.
In other news, EVP John M. Kane sold 28,886 shares of the business’s stock in a transaction on Tuesday, September 26th. The stock was sold at an average price of $15.00, for a total value of $433,290.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Christian M. Lown acquired 6,000 shares of the company’s stock in a transaction dated Friday, October 20th. The stock was purchased at an average cost of $12.35 per share, for a total transaction of $74,100.00. The disclosure for this purchase can be found here. 1.68% of the stock is currently owned by insiders.
Several institutional investors and hedge funds have recently bought and sold shares of the company. Prudential Financial Inc. raised its position in shares of Navient Corporation by 446.1% during the second quarter. Prudential Financial Inc. now owns 5,696,350 shares of the credit services provider’s stock worth $94,845,000 after purchasing an additional 4,653,171 shares during the period. AJO LP raised its position in shares of Navient Corporation by 7,682.8% during the second quarter. AJO LP now owns 1,250,081 shares of the credit services provider’s stock worth $20,814,000 after purchasing an additional 1,234,019 shares during the period. JPMorgan Chase & Co. raised its position in shares of Navient Corporation by 75.9% during the second quarter. JPMorgan Chase & Co. now owns 2,443,684 shares of the credit services provider’s stock worth $40,687,000 after purchasing an additional 1,054,580 shares during the period. W. E. Donoghue & Co. LLC acquired a new stake in shares of Navient Corporation during the second quarter worth $17,303,000. Finally, Parametric Portfolio Associates LLC raised its position in shares of Navient Corporation by 56.4% during the second quarter. Parametric Portfolio Associates LLC now owns 2,304,386 shares of the credit services provider’s stock worth $38,368,000 after purchasing an additional 831,209 shares during the period. 95.76% of the stock is currently owned by institutional investors.
Navient Corporation Company Profile
Navient Corporation provides asset management and business processing services to education, healthcare and government clients at the federal, state and local levels. The Company holds the portfolio of education loans insured or federally guaranteed under the Federal Family Education Loan Program (FFELP).
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