Navient (NASDAQ:NAVI) Downgraded by StockNews.com to “Hold”

Posted by on May 27th, 2023

StockNews.com downgraded shares of Navient (NASDAQ:NAVI – Get Rating) from a buy rating to a hold rating in a research report sent to investors on Friday morning.

NAVI has been the topic of a number of other reports. Morgan Stanley cut their price target on shares of Navient from $19.00 to $17.00 and set an equal weight rating on the stock in a report on Wednesday, April 5th. Credit Suisse Group boosted their price target on shares of Navient from $14.00 to $16.50 and gave the stock a neutral rating in a report on Thursday, January 26th. 888 reissued a reiterates rating on shares of Navient in a report on Thursday, April 27th. Citigroup cut their price target on shares of Navient from $19.00 to $17.00 in a report on Tuesday, April 18th. Finally, Keefe, Bruyette & Woods cut their price target on shares of Navient from $19.00 to $18.00 and set a market perform rating on the stock in a report on Tuesday, April 11th. One equities research analyst has rated the stock with a sell rating and seven have given a hold rating to the stock. According to MarketBeat, the company has a consensus rating of Hold and an average price target of $17.30.

Navient Stock Performance

NASDAQ NAVI opened at $15.55 on Friday. Navient has a 1 year low of $12.45 and a 1 year high of $19.34. The company has a debt-to-equity ratio of 19.40, a current ratio of 10.99 and a quick ratio of 10.99. The firm has a market cap of $1.97 billion, a price-to-earnings ratio of 4.31 and a beta of 1.52. The company has a fifty day moving average price of $15.67 and a 200-day moving average price of $16.65.

Navient (NASDAQ:NAVI – Get Rating) last posted its earnings results on Wednesday, April 26th. The credit services provider reported $1.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.18. Navient had a net margin of 12.07% and a return on equity of 16.24%. The firm had revenue of $1.16 billion during the quarter, compared to analyst estimates of $230.68 million. During the same quarter in the prior year, the business posted $0.90 EPS. As a group, equities research analysts predict that Navient will post 3.26 EPS for the current fiscal year.

Navient Dividend Announcement

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 given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 4.12%. The ex-dividend date is Thursday, June 1st. Navient’s dividend payout ratio is presently 17.73%.

Institutional Investors Weigh In On Navient

Several hedge funds and other institutional investors have recently modified their holdings of NAVI. Sherborne Investors Management LP bought a new position in shares of Navient in the fourth quarter worth approximately $484,452,000. Boothbay Fund Management LLC bought a new position in shares of Navient in the third quarter worth approximately $224,000. AlphaCrest Capital Management LLC increased its position in shares of Navient by 35.1% in the third quarter. AlphaCrest Capital Management LLC now owns 42,302 shares of the credit services provider’s stock worth $621,000 after purchasing an additional 10,993 shares during the last quarter. Russell Investments Group Ltd. grew its position in Navient by 0.6% during the third quarter. Russell Investments Group Ltd. now owns 396,017 shares of the credit services provider’s stock valued at $5,809,000 after acquiring an additional 2,389 shares during the last quarter. Finally, Fox Run Management L.L.C. bought a new position in Navient during the fourth quarter valued at approximately $612,000. 70.48% of the stock is currently owned by institutional investors.

Navient Company Profile

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Navient Corp. engages in the provision of asset management and business processing solutions for education, healthcare and government clients at the federal, state and local levels. It operates through the following segments: Federal Education Loans, Consumer Lending, Business Processing and Other. The Federal Education Loans segment owns FFELP Loans and performs servicing and asset recovery services on FFELP Loan portfolio.

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Analyst Recommendations for Navient (NASDAQ:NAVI)

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