SLM (NASDAQ:SLM – Get Free Report) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share guidance of 2.700-2.800 for the period, compared to the consensus earnings per share estimate of 2.770. The company issued revenue guidance of -. SLM also updated its FY24 guidance to $2.70-2.80 EPS.
Wall Street Analyst Weigh In
Several equities research analysts recently weighed in on the company. Wedbush boosted their target price on SLM from $25.00 to $29.00 and gave the stock an outperform rating in a research note on Thursday. JPMorgan Chase & Co. lifted their price target on SLM from $23.00 to $25.00 and gave the stock a neutral rating in a research report on Thursday. Deutsche Bank Aktiengesellschaft lifted their price target on SLM from $25.00 to $29.00 and gave the stock a buy rating in a research report on Thursday. Royal Bank of Canada lifted their price target on SLM from $25.00 to $27.00 and gave the stock an outperform rating in a research report on Thursday. Finally, Wells Fargo & Company boosted their target price on SLM from $22.00 to $24.00 and gave the company an overweight rating in a report on Thursday, April 18th. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, SLM presently has an average rating of Moderate Buy and an average price target of $23.73.
SLM Price Performance
SLM (NASDAQ:SLM – Get Free Report) last announced its quarterly earnings data on Wednesday, July 24th. The credit services provider reported $1.11 earnings per share for the quarter, topping analysts’ consensus estimates of $0.79 by $0.32. SLM had a return on equity of 45.65% and a net margin of 25.15%. The firm had revenue of $783.28 million for the quarter, compared to analyst estimates of $368.97 million. During the same quarter in the prior year, the company posted $1.10 earnings per share. As a group, equities analysts predict that SLM will post 2.78 EPS for the current fiscal year.
SLM Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Thursday, September 5th will be given a dividend of $0.11 per share. The ex-dividend date is Thursday, September 5th. This represents a $0.44 dividend on an annualized basis and a yield of 1.91%. SLM’s payout ratio is 13.75%.
About SLM
SLM Corporation, through its subsidiaries, originates and services private education loans to students and their families to finance the cost of their education in the United States. It is also involved in the provision of retail deposit accounts, including certificates of deposit, money market accounts, and high-yield savings accounts; and interest-bearing omnibus accounts.
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