Navient (NASDAQ:NAVI) Price Target Cut to $6.00 by Analysts at Barclays

Navient (NASDAQ:NAVI) had its price objective reduced by Barclays from $7.00 to $6.00 in a report issued on Thursday morning,Benzinga reports. They currently have an underweight rating on the credit services provider’s stock.

Other equities research analysts also recently issued reports about the company. Zacks Research raised Navient from a “hold” rating to a “strong-buy” rating in a report on Monday, October 12th. TD Cowen reissued a “sell” rating on shares of Navient in a report on Friday, August 7th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Navient in a research note on Monday, September 21st. Finally, JPMorgan Chase & Co. lifted their target price on Navient from $8.00 to $8.50 and gave the company a “neutral” rating in a research note on Monday, October 12th. One analyst has rated the stock with a Strong Buy rating, three have given a Hold rating and four have issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Reduce” and a consensus target price of $8.00.

Navient Price Performance

NASDAQ:NAVI opened at $8.82 on Thursday. Navient has a 52 week low of $7.33 and a 52 week high of $13.48. The stock’s fifty day moving average is $9.19 and its two-hundred day moving average is $8.89. The company has a market capitalization of $827.14 million, a P/E ratio of 9.97 and a beta of 1.17. The company has a quick ratio of 10.53, a current ratio of 10.53 and a debt-to-equity ratio of 16.73.

Navient (NASDAQ:NAVI) last issued its quarterly earnings data on Wednesday, November 4th. The credit services provider reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.10). Navient had a return on equity of 3.66% and a net margin of 1.79%. The business had revenue of $308.00 million for the quarter, compared to analyst estimates of $144.92 million. During the same period in the previous year, the business posted ($0.84) earnings per share. Equities analysts expect that Navient will post 0.83 EPS for the current year.

Navient Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 18th. Investors of record on Friday, September 4th were paid a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 7.3%. The ex-dividend date was Friday, September 4th. Navient’s dividend payout ratio is presently -128.00%.

Institutional Trading of Navient

Several institutional investors have recently made changes to their positions in the stock. Principal Financial Group Inc. boosted its holdings in Navient by 0.4% in the first quarter. Principal Financial Group Inc. now owns 322,085 shares of the credit services provider’s stock valued at $2,635,000 after acquiring an additional 1,354 shares during the last quarter. Abel Hall LLC increased its position in Navient by 13.5% during the 3rd quarter. Abel Hall LLC now owns 13,714 shares of the credit services provider’s stock worth $124,000 after purchasing an additional 1,632 shares in the last quarter. Illinois Municipal Retirement Fund lifted its position in Navient by 4.4% during the first quarter. Illinois Municipal Retirement Fund now owns 38,948 shares of the credit services provider’s stock valued at $319,000 after buying an additional 1,654 shares in the last quarter. GAMMA Investing LLC grew its stake in Navient by 10.5% during the second quarter. GAMMA Investing LLC now owns 30,707 shares of the credit services provider’s stock worth $261,000 after buying an additional 2,920 shares during the period. Finally, Daytona Street Capital LLC raised its stake in shares of Navient by 3.0% in the 3rd quarter. Daytona Street Capital LLC now owns 114,121 shares of the credit services provider’s stock valued at $1,028,000 after acquiring an additional 3,300 shares during the period. 97.14% of the stock is owned by hedge funds and other institutional investors.

More Navient News

Here are the key news stories impacting Navient this week:

• Positive Sentiment: Navient reported $308 million in Q3 revenue, above the cited consensus estimate of $144.92 million. A results review also highlighted origination growth and portfolio repositioning as factors supporting performance. Navient Q3 results Q3 deep dive
• Neutral Sentiment: JPMorgan raised its price target to $9 from $8.50 but maintained a neutral rating, implying limited upside from the cited share price. JPMorgan rating
• Negative Sentiment: Q3 EPS was $0.03, missing analyst estimates of $0.13–$0.15 and down from $0.29 a year earlier. The earnings shortfall likely weighed on sentiment despite the reported revenue beat. Q3 earnings report
• Negative Sentiment: TD Cowen cut its target to $8 from $8.50 and assigned a sell rating. Barclays lowered its target to $6 from $7 and maintained an underweight rating, signaling substantial downside concerns. TD Cowen rating Barclays rating

Navient Company Profile

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.