SLM (SLM) Scheduled to Post Earnings on Wednesday

SLM (NASDAQ:SLM) will be posting its quarterly earnings results after the market closes on Wednesday, October 23rd. Analysts expect SLM to post earnings of $0.07 per share for the quarter. SLM has set its FY24 guidance at $2.70-2.80 EPS and its FY 2024 guidance at 2.700-2.800 EPS.Individual interested in registering for the company’s earnings conference call can do so using this link.

SLM (NASDAQ:SLM) last issued its quarterly earnings data on Wednesday, July 24th. The credit services provider reported $1.11 EPS for the quarter, topping analysts’ consensus estimates of $0.79 by $0.32. SLM had a return on equity of 41.84% and a net margin of 24.67%. The firm had revenue of $783.28 million during the quarter, compared to analyst estimates of $368.97 million. During the same period in the previous year, the company posted $1.10 EPS. On average, analysts expect SLM to post $3 EPS for the current fiscal year and $3 EPS for the next fiscal year.

SLM Price Performance

Shares of NASDAQ:SLM opened at $23.18 on Wednesday. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 2.66. The stock has a market cap of $5.04 billion, a PE ratio of 7.22, a price-to-earnings-growth ratio of 0.59 and a beta of 1.15. The stock’s fifty day simple moving average is $21.57 and its two-hundred day simple moving average is $21.41. SLM has a 1-year low of $12.26 and a 1-year high of $23.95.

SLM Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Thursday, September 5th were given a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.90%. The ex-dividend date of this dividend was Thursday, September 5th. SLM’s payout ratio is currently 13.71%.

Insider Buying and Selling at SLM

In other news, Director Robert S. Strong sold 4,500 shares of SLM stock in a transaction dated 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 owns 101,093 shares in the company, valued at $2,294,811.10. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.20% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on SLM shares. Bank of America started coverage on shares of SLM in a research report on Wednesday, September 25th. They issued a “buy” rating and a $27.00 price objective for the company. Barclays upped their target price on SLM from $23.00 to $27.00 and gave the company an “overweight” rating in a report on Tuesday, October 8th. Wedbush dropped their price target on SLM from $29.00 to $26.00 and set an “outperform” rating on the stock in a report on Tuesday, September 24th. Wells Fargo & Company upped their price objective on SLM from $24.00 to $27.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. Finally, Royal Bank of Canada lifted their target price on SLM from $25.00 to $27.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Two analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $24.83.

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.