SLM (NASDAQ:SLM) Posts Earnings Results, Misses Estimates By $0.30 EPS

SLM (NASDAQ:SLM) posted its earnings results on Wednesday. The credit services provider reported ($0.23) earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.30), Briefing.com reports. SLM had a return on equity of 41.84% and a net margin of 24.67%. During the same period last year, the business earned $0.11 earnings per share. SLM updated its FY 2024 guidance to 2.700-2.800 EPS.

SLM Price Performance

SLM stock traded down $0.66 during midday trading on Thursday, reaching $22.14. The company had a trading volume of 678,098 shares, compared to its average volume of 1,766,435. SLM has a 1-year low of $12.26 and a 1-year high of $23.95. The stock has a 50 day moving average price of $21.90 and a 200-day moving average price of $21.49. The company has a debt-to-equity ratio of 2.66, a current ratio of 1.26 and a quick ratio of 1.26. The company has a market capitalization of $4.81 billion, a price-to-earnings ratio of 6.89, a price-to-earnings-growth ratio of 0.60 and a beta of 1.15.

Insider Buying and Selling at SLM

In other news, Director Robert S. Strong sold 4,500 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $22.70, for a total transaction of $102,150.00. Following the completion of the sale, the director now owns 101,093 shares of the company’s stock, valued at approximately $2,294,811.10. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 1.20% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on SLM. Royal Bank of Canada boosted their target price on shares of SLM from $25.00 to $27.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of SLM from $25.00 to $29.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Barclays dropped their price target on shares of SLM from $27.00 to $26.00 and set an “overweight” rating for the company in a research note on Thursday. Bank of America assumed coverage on SLM in a report on Wednesday, September 25th. They set a “buy” rating and a $27.00 target price on the stock. Finally, Wedbush reaffirmed an “outperform” rating and issued a $26.00 price target on shares of SLM in a research note on Thursday. Two equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, SLM currently has a consensus rating of “Moderate Buy” and a consensus target price of $24.75.

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.