Navient (NAVI) Projected to Post Earnings on Thursday

Navient (NASDAQ:NAVIGet Free Report) is expected to issue its results before the market opens on Thursday, August 6th. Analysts expect Navient to post earnings of $0.18 per share and revenue of $142.8950 million for the quarter.

Navient Stock Up 5.2%

NAVI stock opened at $8.83 on Tuesday. The company has a fifty day simple moving average of $8.31 and a 200 day simple moving average of $8.84. The company has a current ratio of 7.67, a quick ratio of 7.67 and a debt-to-equity ratio of 16.49. Navient has a 1 year low of $7.33 and a 1 year high of $13.87. The firm has a market cap of $829.93 million, a PE ratio of -14.02 and a beta of 1.18.

Navient Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 19th. Investors of record on Friday, June 5th were paid a $0.16 dividend. The ex-dividend date was Friday, June 5th. This represents a $0.64 dividend on an annualized basis and a yield of 7.2%. Navient’s dividend payout ratio (DPR) is presently -101.59%.

Institutional Trading of Navient

Several hedge funds and other institutional investors have recently bought and sold shares of NAVI. Royal Bank of Canada lifted its stake in shares of Navient by 11.7% in the first quarter. Royal Bank of Canada now owns 98,366 shares of the credit services provider’s stock valued at $1,243,000 after buying an additional 10,296 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Navient by 9.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 210,350 shares of the credit services provider’s stock valued at $2,657,000 after purchasing an additional 17,483 shares during the period. Russell Investments Group Ltd. raised its stake in shares of Navient by 77.0% in the second quarter. Russell Investments Group Ltd. now owns 7,766 shares of the credit services provider’s stock valued at $109,000 after purchasing an additional 3,378 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its stake in shares of Navient by 13.5% in the second quarter. Arrowstreet Capital Limited Partnership now owns 438,621 shares of the credit services provider’s stock valued at $6,185,000 after purchasing an additional 52,236 shares in the last quarter. Finally, First Trust Advisors LP lifted its position in Navient by 6.4% in the second quarter. First Trust Advisors LP now owns 276,778 shares of the credit services provider’s stock worth $3,903,000 after purchasing an additional 16,611 shares during the period. 97.14% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. JPMorgan Chase & Co. dropped their target price on shares of Navient from $9.50 to $8.00 and set a “neutral” rating on the stock in a report on Monday, July 13th. TD Cowen lowered their price target on Navient from $9.00 to $8.50 and set a “sell” rating on the stock in a research report on Tuesday, July 7th. Bank of America began coverage on Navient in a research note on Monday, April 20th. They issued an “underperform” rating and a $7.00 price objective on the stock. Morgan Stanley cut their price objective on Navient from $12.00 to $9.00 and set an “equal weight” rating for the company in a research report on Thursday, April 16th. Finally, Barclays increased their target price on Navient from $7.00 to $8.00 and gave the company an “underweight” rating in a research note on Thursday, April 30th. Five investment analysts have rated the stock with a Hold rating and four have given a Sell rating to the company’s stock. According to MarketBeat, Navient presently has a consensus rating of “Reduce” and an average price target of $9.14.

Read Our Latest Stock Analysis on Navient

About Navient

(Get Free Report)

Navient Corporation (NASDAQ: NAVI) is a specialized provider of asset management and business processing solutions, with a primary focus on student loan servicing. Established in 2014 through the separation from Sallie Mae, Navient assumed responsibility for servicing federal and private education loans, positioning itself as one of the largest servicers of higher education debt in the United States.

The company’s core activities center on federal student loan servicing under contracts with the U.S.

Further Reading

Earnings History for Navient (NASDAQ:NAVI)

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