$295.33 Million in Sales Expected for Navient Corp (NASDAQ:NAVI) This Quarter

Equities analysts expect Navient Corp (NASDAQ:NAVI) to report sales of $295.33 million for the current quarter, Zacks reports. Three analysts have issued estimates for Navient’s earnings, with the highest sales estimate coming in at $321.00 million and the lowest estimate coming in at $282.00 million. Navient reported sales of $306.00 million in the same quarter last year, which would suggest a negative year-over-year growth rate of 3.5%. The company is scheduled to announce its next earnings results on Tuesday, October 22nd.

On average, analysts expect that Navient will report full-year sales of $1.17 billion for the current financial year, with estimates ranging from $1.14 billion to $1.22 billion. For the next year, analysts expect that the company will report sales of $1.16 billion, with estimates ranging from $1.07 billion to $1.26 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Navient.

Navient (NASDAQ:NAVI) last issued its earnings results on Tuesday, July 23rd. The credit services provider reported $0.74 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.54 by $0.20. The company had revenue of $296.00 million during the quarter, compared to the consensus estimate of $296.50 million. Navient had a return on equity of 16.82% and a net margin of 8.14%. The firm’s revenue for the quarter was down 7.2% compared to the same quarter last year. During the same period last year, the business posted $0.52 EPS.

Several equities analysts recently weighed in on the stock. BMO Capital Markets set a $17.00 price target on shares of Navient and gave the company a “hold” rating in a research report on Friday, July 26th. BidaskClub raised shares of Navient from a “hold” rating to a “buy” rating in a research report on Friday, July 19th. Credit Suisse Group cut shares of Navient from an “outperform” rating to a “neutral” rating and set a $14.50 price target on the stock. in a research report on Thursday, July 25th. They noted that the move was a valuation call. JPMorgan Chase & Co. raised shares of Navient from a “neutral” rating to an “overweight” rating and raised their price target for the company from $12.50 to $14.50 in a research report on Thursday, April 25th. Finally, Wedbush cut shares of Navient from an “outperform” rating to a “neutral” rating in a research report on Thursday, July 25th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the stock. Navient currently has an average rating of “Hold” and an average target price of $15.67.

In other Navient news, EVP Stephen M. Hauber sold 9,000 shares of Navient stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $13.63, for a total transaction of $122,670.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Canyon Capital Advisors Llc sold 3,500,000 shares of Navient stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $14.95, for a total transaction of $52,325,000.00. The disclosure for this sale can be found here. 1.85% of the stock is owned by company insiders.

Several hedge funds have recently modified their holdings of the company. Strs Ohio increased its stake in shares of Navient by 6.6% during the 2nd quarter. Strs Ohio now owns 26,057 shares of the credit services provider’s stock worth $355,000 after purchasing an additional 1,619 shares during the last quarter. Advisors Preferred LLC purchased a new stake in shares of Navient during the 2nd quarter worth approximately $25,000. Intrust Bank NA increased its stake in shares of Navient by 6.8% during the 1st quarter. Intrust Bank NA now owns 32,323 shares of the credit services provider’s stock worth $374,000 after purchasing an additional 2,051 shares during the last quarter. Envestnet Asset Management Inc. increased its stake in shares of Navient by 3.7% during the 2nd quarter. Envestnet Asset Management Inc. now owns 62,093 shares of the credit services provider’s stock worth $848,000 after purchasing an additional 2,229 shares during the last quarter. Finally, First National Bank of Mount Dora Trust Investment Services increased its stake in shares of Navient by 11.6% during the 2nd quarter. First National Bank of Mount Dora Trust Investment Services now owns 22,412 shares of the credit services provider’s stock worth $306,000 after purchasing an additional 2,325 shares during the last quarter. Institutional investors own 94.30% of the company’s stock.

Shares of NAVI traded up $0.04 during trading hours on Friday, hitting $13.34. The stock had a trading volume of 2,055,922 shares, compared to its average volume of 1,848,386. Navient has a 1-year low of $8.23 and a 1-year high of $15.67. The firm has a market cap of $3.14 billion, a price-to-earnings ratio of 6.38, a P/E/G ratio of 1.87 and a beta of 2.12. The company has a quick ratio of 12.43, a current ratio of 13.85 and a debt-to-equity ratio of 26.20. The business’s 50 day moving average is $13.66.

Navient Company Profile

Navient Corporation provides education loan management and business processing solutions for education, healthcare, and government clients at the federal, state, and local levels in the United States. It operates in three segments: Federal Education Loans, Consumer Lending, and Business Processing. The company holds and acquires Federal Family Education Loan Program loans that are insured or guaranteed by state or not-for-profit agencies; and performs servicing and asset recovery services on its own loan portfolio, and federal education loans owned by the United States Department of Education and other institutions.

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Earnings History and Estimates for Navient (NASDAQ:NAVI)

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