SLM Corp (SLM) Expected to Announce Quarterly Sales of $401.69 Million

Brokerages expect that SLM Corp (NASDAQ:SLM) will post $401.69 million in sales for the current fiscal quarter, according to Zacks. Four analysts have made estimates for SLM’s earnings, with estimates ranging from $394.52 million to $407.40 million. SLM reported sales of $340.95 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 17.8%. The company is expected to announce its next earnings report on Tuesday, July 23rd.

According to Zacks, analysts expect that SLM will report full-year sales of $1.62 billion for the current financial year, with estimates ranging from $1.61 billion to $1.63 billion. For the next year, analysts forecast that the company will post sales of $1.79 billion, with estimates ranging from $1.73 billion to $1.87 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that cover SLM.

SLM (NASDAQ:SLM) last issued its quarterly earnings data on Wednesday, April 17th. The credit services provider reported $0.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.30 by $0.04. SLM had a return on equity of 20.28% and a net margin of 25.77%. The company had revenue of $402.28 million during the quarter, compared to analysts’ expectations of $384.70 million. During the same quarter in the previous year, the company posted $0.28 earnings per share. The business’s revenue was up 20.9% on a year-over-year basis.

A number of brokerages have recently issued reports on SLM. ValuEngine upgraded SLM from a “strong sell” rating to a “sell” rating in a report on Tuesday, May 7th. BidaskClub cut SLM from a “sell” rating to a “strong sell” rating in a research note on Tuesday, March 26th. TheStreet upgraded SLM from a “c+” rating to a “b-” rating in a research note on Monday, January 28th. Wedbush restated an “outperform” rating on shares of SLM in a research note on Tuesday, January 29th. Finally, Zacks Investment Research cut SLM from a “buy” rating to a “hold” rating in a research note on Tuesday, April 9th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $13.00.

In other SLM news, SVP Jonathan Boyles sold 68,000 shares of the company’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $11.20, for a total transaction of $761,600.00. Following the sale, the senior vice president now owns 67,679 shares of the company’s stock, valued at $758,004.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Paul F. Thome sold 25,000 shares of the company’s stock in a transaction on Wednesday, February 27th. The shares were sold at an average price of $11.10, for a total transaction of $277,500.00. Following the sale, the executive vice president now directly owns 208,049 shares in the company, valued at approximately $2,309,343.90. The disclosure for this sale can be found here. Insiders sold 93,805 shares of company stock valued at $1,047,625 over the last 90 days. 0.45% of the stock is currently owned by company insiders.

Institutional investors and hedge funds have recently modified their holdings of the business. Oppenheimer & Co. Inc. boosted its position in shares of SLM by 5.8% during the 1st quarter. Oppenheimer & Co. Inc. now owns 19,230 shares of the credit services provider’s stock worth $191,000 after purchasing an additional 1,048 shares in the last quarter. Kendall Capital Management lifted its position in SLM by 1.8% in the 1st quarter. Kendall Capital Management now owns 62,210 shares of the credit services provider’s stock valued at $617,000 after acquiring an additional 1,110 shares in the last quarter. Utah Retirement Systems lifted its position in SLM by 1.4% in the 1st quarter. Utah Retirement Systems now owns 82,116 shares of the credit services provider’s stock valued at $813,000 after acquiring an additional 1,134 shares in the last quarter. Huntington National Bank lifted its position in SLM by 69.2% in the 1st quarter. Huntington National Bank now owns 2,890 shares of the credit services provider’s stock valued at $29,000 after acquiring an additional 1,182 shares in the last quarter. Finally, First Hawaiian Bank lifted its position in SLM by 1.8% in the 1st quarter. First Hawaiian Bank now owns 69,000 shares of the credit services provider’s stock valued at $684,000 after acquiring an additional 1,200 shares in the last quarter.

Shares of NASDAQ:SLM traded down $0.07 during trading on Friday, reaching $9.94. 40,122 shares of the stock were exchanged, compared to its average volume of 3,388,703. SLM has a 12 month low of $7.95 and a 12 month high of $12.16. The stock has a market cap of $4.35 billion, a PE ratio of 9.26, a P/E/G ratio of 0.45 and a beta of 1.47. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 1.69.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Friday, June 7th will be issued a $0.03 dividend. The ex-dividend date is Thursday, June 6th. This represents a $0.12 dividend on an annualized basis and a yield of 1.21%. SLM’s payout ratio is 11.21%.

About SLM

SLM Corporation, through its subsidiaries, operates as a saving, planning, and paying for college company in the United States. The company originates and services private education loans to students or their families. It also offers retail deposit accounts, including certificates of deposit, money market deposit accounts, and high yield savings accounts; omnibus accounts; and a consumer savings network that provides financial rewards on everyday purchases to help families save for college.

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Earnings History and Estimates for SLM (NASDAQ:SLM)

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