Wedbush reissued their neutral rating on shares of Navient Corp (NASDAQ:NAVI) in a report released on Tuesday morning. Wedbush currently has a $16.50 price objective on the credit services provider’s stock.
A number of other research analysts also recently commented on NAVI. BMO Capital Markets restated a hold rating and issued a $17.00 target price on shares of Navient Corp in a research note on Tuesday, April 11th. Barclays PLC set a $21.00 target price on Navient Corp and gave the company a buy rating in a research note on Sunday, January 8th. DA Davidson assumed coverage on Navient Corp in a research note on Friday, January 6th. They issued a buy rating and a $21.00 target price on the stock. Zacks Investment Research upgraded Navient Corp from a hold rating to a buy rating and set a $16.00 target price on the stock in a research note on Wednesday, April 5th. Finally, JPMorgan Chase & Co. lowered their target price on Navient Corp from $17.00 to $16.00 and set a neutral rating on the stock in a research note on Monday, April 3rd. Seven investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Navient Corp currently has an average rating of Hold and a consensus target price of $17.32.
Navient Corp (NASDAQ:NAVI) traded down 2.26% during mid-day trading on Tuesday, hitting $14.71. The company had a trading volume of 1,518,682 shares. Navient Corp has a one year low of $11.01 and a one year high of $17.95. The company has a market cap of $4.28 billion, a PE ratio of 6.94 and a beta of 2.57. The company’s 50 day moving average price is $14.63 and its 200-day moving average price is $15.38.
Navient Corp (NASDAQ:NAVI) last issued its earnings results on Tuesday, April 18th. The credit services provider reported $0.36 EPS for the quarter, missing analysts’ consensus estimates of $0.43 by $0.07. Navient Corp had a net margin of 13.72% and a return on equity of 15.65%. The firm earned $334 million during the quarter, compared to analysts’ expectations of $345.60 million. During the same quarter last year, the firm earned $0.43 EPS. The business’s revenue for the quarter was down 19.7% compared to the same quarter last year. Equities research analysts anticipate that Navient Corp will post $1.82 EPS for the current fiscal year.
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The business also recently declared a quarterly dividend, which will be paid on Friday, June 16th. Stockholders of record on Friday, June 2nd will be paid a dividend of $0.16 per share. The ex-dividend date of this dividend is Wednesday, May 31st. This represents a $0.64 annualized dividend and a dividend yield of 4.25%. Navient Corp’s dividend payout ratio (DPR) is presently 30.19%.
Several hedge funds have recently added to or reduced their stakes in the company. WFG Advisors LP bought a new stake in shares of Navient Corp during the fourth quarter worth $132,000. Moore Capital Management LP bought a new stake in shares of Navient Corp during the third quarter worth $150,000. Thrivent Financial for Lutherans raised its stake in shares of Navient Corp by 0.9% in the fourth quarter. Thrivent Financial for Lutherans now owns 10,420 shares of the credit services provider’s stock worth $171,000 after buying an additional 90 shares during the last quarter. Cigna Investments Inc. New bought a new stake in shares of Navient Corp during the fourth quarter worth $182,000. Finally, Balasa Dinverno & Foltz LLC raised its stake in shares of Navient Corp by 13.5% in the third quarter. Balasa Dinverno & Foltz LLC now owns 11,553 shares of the credit services provider’s stock worth $167,000 after buying an additional 1,373 shares during the last quarter. Institutional investors own 93.89% of the company’s stock.
About Navient Corp
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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