Navient (NASDAQ:NAVI) Issues Quarterly Earnings Results

Navient (NASDAQ:NAVI) released its earnings results on Wednesday. The credit services provider reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.10), Zacks reports. Navient had a negative net margin of 1.64% and a positive return on equity of 4.68%. During the same quarter in the prior year, the business posted ($0.84) EPS.

Navient Stock Performance

Shares of NAVI stock traded up $0.81 during trading hours on Wednesday, reaching $9.07. The stock had a trading volume of 1,713,853 shares, compared to its average volume of 1,417,919. The firm has a market capitalization of $850.58 million, a PE ratio of 7.06 and a beta of 1.17. The firm has a 50-day simple moving average of $9.20 and a 200-day simple moving average of $8.91. Navient has a twelve month low of $7.33 and a twelve month high of $13.48. The company has a debt-to-equity ratio of 16.73, a current ratio of 10.53 and a quick ratio of 10.53.

Navient Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 18th. Investors of record on Friday, September 4th were issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 7.1%. The ex-dividend date of this dividend was Friday, September 4th. Navient’s dividend payout ratio (DPR) is -128.00%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on NAVI. Zacks Research upgraded shares of Navient from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 12th. JPMorgan Chase & Co. raised their target price on shares of Navient from $8.00 to $8.50 and gave the stock a “neutral” rating in a report on Monday, October 12th. Weiss Ratings restated a “sell (d)” rating on shares of Navient in a research note on Monday, September 21st. Barclays lowered their target price on Navient from $8.00 to $7.00 and set an “underweight” rating for the company in a report on Monday, October 5th. Finally, TD Cowen reaffirmed a “sell” rating on shares of Navient in a report on Friday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Reduce” and a consensus price target of $8.17.

About Navient

Navient Corp. (NASDAQ:NAVI) is a financial services company that provides education finance and business-processing solutions. The company has historically serviced and managed federal and private student loans, helping borrowers with account administration, repayment processing, customer support and related loan-management services.

Navient’s operations have evolved as the company reduced its role in servicing federally owned student loans. In 2021, it transferred its federal student loan servicing portfolio to Aidvantage, a division of Maximus.