Navient (NASDAQ:NAVI) Upgraded to Buy at BidaskClub

BidaskClub upgraded shares of Navient (NASDAQ:NAVI) from a hold rating to a buy rating in a research report released on Friday morning, BidAskClub reports.

Other equities research analysts have also recently issued research reports about the stock. Wedbush upgraded shares of Navient from a neutral rating to an outperform rating and set a $12.00 price target on the stock in a research report on Thursday, October 22nd. JPMorgan Chase & Co. boosted their price target on shares of Navient from $9.50 to $11.50 and gave the stock an overweight rating in a research report on Friday, October 9th. Finally, Barclays boosted their price target on shares of Navient from $11.00 to $13.00 and gave the stock an overweight rating in a research report on Thursday, October 22nd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the company. Navient has a consensus rating of Buy and an average price target of $11.63.

Navient stock opened at $9.82 on Friday. The stock has a market cap of $1.83 billion, a P/E ratio of 5.01 and a beta of 1.81. The company has a debt-to-equity ratio of 34.94, a current ratio of 12.02 and a quick ratio of 12.02. Navient has a 1 year low of $4.07 and a 1 year high of $15.50. The firm’s 50 day moving average price is $9.73 and its 200-day moving average price is $8.73.

Navient (NASDAQ:NAVI) last released its quarterly earnings data on Tuesday, October 20th. The credit services provider reported $0.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.79 by $0.20. The firm had revenue of $321.00 million for the quarter, compared to analysts’ expectations of $279.48 million. Navient had a net margin of 9.65% and a return on equity of 25.22%. The company’s revenue for the quarter was up 3.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.62 earnings per share. As a group, equities analysts expect that Navient will post 3.25 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 18th. Shareholders of record on Friday, December 4th were paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 6.52%. The ex-dividend date of this dividend was Thursday, December 3rd. Navient’s payout ratio is 24.24%.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Amundi Pioneer Asset Management Inc. lifted its position in shares of Navient by 72.6% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 77,804 shares of the credit services provider’s stock valued at $899,000 after buying an additional 32,720 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Navient by 14.1% during the 2nd quarter. Goldman Sachs Group Inc. now owns 2,321,595 shares of the credit services provider’s stock valued at $16,320,000 after buying an additional 287,433 shares in the last quarter. American International Group Inc. lifted its position in shares of Navient by 30.5% during the 2nd quarter. American International Group Inc. now owns 433,519 shares of the credit services provider’s stock valued at $3,048,000 after buying an additional 101,347 shares in the last quarter. Bank of Montreal Can lifted its position in shares of Navient by 99.5% during the 2nd quarter. Bank of Montreal Can now owns 558,354 shares of the credit services provider’s stock valued at $3,613,000 after buying an additional 278,533 shares in the last quarter. Finally, Holocene Advisors LP lifted its position in shares of Navient by 943.8% during the 2nd quarter. Holocene Advisors LP now owns 1,273,292 shares of the credit services provider’s stock valued at $8,951,000 after buying an additional 1,151,302 shares in the last quarter. 88.98% of the stock is owned by institutional investors.

Navient Company Profile

Navient Corporation provides education loan management and business processing solutions for education, healthcare, and government clients at the federal, state, and local levels in the United States. It operates through four segments: Federal Education Loans, Consumer Lending, Business Processing, and Other.

See Also: Federal Reserve

Analyst Recommendations for Navient (NASDAQ:NAVI)

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