Analysts Set Navient Corporation (NASDAQ:NAVI) Target Price at $13.71

Navient Corporation (NASDAQ:NAVI) has been given an average rating of “Reduce” by the eight analysts that are currently covering the firm, Marketbeat reports. Three research analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a strong buy rating on the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $13.71.

A number of equities research analysts have commented on the stock. TD Securities lifted their target price on shares of Navient from $11.00 to $12.00 and gave the stock a “sell” rating in a research report on Thursday, May 1st. JPMorgan Chase & Co. lifted their price objective on Navient from $12.50 to $15.50 and gave the stock a “neutral” rating in a report on Friday, July 11th. Keefe, Bruyette & Woods upped their price objective on Navient from $14.00 to $16.50 and gave the company a “market perform” rating in a research report on Wednesday, July 9th. Jefferies Financial Group dropped their target price on Navient from $14.00 to $12.00 and set a “hold” rating on the stock in a research report on Monday, April 21st. Finally, TD Cowen downgraded Navient from a “hold” rating to a “strong sell” rating in a research note on Thursday, May 1st.

Navient Trading Down 3.0%

Shares of NASDAQ NAVI opened at $14.61 on Friday. The firm’s 50 day moving average price is $13.88 and its 200-day moving average price is $13.36. Navient has a 52-week low of $10.53 and a 52-week high of $16.97. The company has a debt-to-equity ratio of 16.56, a quick ratio of 9.88 and a current ratio of 9.88. The company has a market cap of $1.48 billion, a PE ratio of 29.22 and a beta of 1.40.

Navient (NASDAQ:NAVI) last announced its quarterly earnings results on Wednesday, April 30th. The credit services provider reported $0.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.19 by $0.09. Navient had a return on equity of 5.20% and a net margin of 1.37%. The firm had revenue of $156.00 million for the quarter, compared to the consensus estimate of $150.40 million. During the same period in the prior year, the company posted $0.47 earnings per share. On average, equities research analysts expect that Navient will post 1.04 EPS for the current fiscal year.

Navient Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 20th. Shareholders of record on Friday, June 6th were given a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 4.38%. The ex-dividend date of this dividend was Friday, June 6th. Navient’s payout ratio is 128.00%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in NAVI. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Navient by 1.9% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 44,052 shares of the credit services provider’s stock worth $585,000 after purchasing an additional 823 shares in the last quarter. Neuberger Berman Group LLC grew its stake in Navient by 5.6% during the first quarter. Neuberger Berman Group LLC now owns 18,100 shares of the credit services provider’s stock valued at $229,000 after acquiring an additional 962 shares in the last quarter. Covestor Ltd lifted its stake in Navient by 15.7% in the 1st quarter. Covestor Ltd now owns 7,303 shares of the credit services provider’s stock worth $92,000 after purchasing an additional 993 shares in the last quarter. Wedge Capital Management L L P NC lifted its stake in Navient by 1.8% in the 2nd quarter. Wedge Capital Management L L P NC now owns 57,611 shares of the credit services provider’s stock worth $812,000 after purchasing an additional 999 shares in the last quarter. Finally, Harbor Capital Advisors Inc. boosted its holdings in shares of Navient by 9.5% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 11,620 shares of the credit services provider’s stock valued at $164,000 after purchasing an additional 1,012 shares during the last quarter. 97.14% of the stock is currently owned by institutional investors.

Navient Company Profile

Navient Corporation provides technology-enabled education finance and business processing solutions for education, health care, and government clients in the United States. It operates through three segments: Federal Education Loans, Consumer Lending, and Business Processing. The company owns Federal Family Education Loan Program (FFELP) loans that are insured or guaranteed by state or not-for-profit agencies; and performs servicing on its portfolios, as well as federal education loans held by other institutions.