SLM (NASDAQ:SLM) Updates FY 2024 Earnings Guidance

SLM (NASDAQ:SLM) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided earnings per share guidance of 2.700-2.800 for the period, compared to the consensus earnings per share estimate of 2.830. The company issued revenue guidance of -.

Analyst Upgrades and Downgrades

A number of analysts have commented on SLM shares. Deutsche Bank Aktiengesellschaft increased their price target on shares of SLM from $25.00 to $29.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Wells Fargo & Company raised their target price on shares of SLM from $24.00 to $27.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. Royal Bank of Canada restated an “outperform” rating and issued a $26.00 price objective on shares of SLM in a research note on Thursday. JPMorgan Chase & Co. cut their price objective on SLM from $25.00 to $24.00 and set a “neutral” rating for the company in a research report on Monday, October 7th. Finally, Keefe, Bruyette & Woods boosted their target price on SLM from $25.00 to $27.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Two equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, SLM presently has an average rating of “Moderate Buy” and an average target price of $24.67.

SLM Stock Performance

Shares of SLM stock traded down $0.59 during trading on Thursday, reaching $22.21. The company’s stock had a trading volume of 4,723,994 shares, compared to its average volume of 1,788,436. SLM has a 52 week low of $12.26 and a 52 week high of $23.95. The firm has a market cap of $4.88 billion, a PE ratio of 6.94, a P/E/G ratio of 0.60 and a beta of 1.15. The business’s 50-day moving average price is $21.90 and its 200-day moving average price is $21.49. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 2.66.

SLM (NASDAQ:SLM) last announced its earnings results on Wednesday, October 23rd. The credit services provider reported ($0.23) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.30). SLM had a return on equity of 41.84% and a net margin of 24.67%. During the same quarter last year, the business posted $0.11 EPS. Equities analysts forecast that SLM will post 2.85 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Robert S. Strong sold 4,500 shares of the business’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 value of $102,150.00. Following the completion of the transaction, the director now directly owns 101,093 shares in the company, valued at approximately $2,294,811.10. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.20% of the company’s stock.

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.