Navient (NASDAQ:NAVI) Reaches New 12-Month Low Following Analyst Downgrade

Navient Co. (NASDAQ:NAVIGet Free Report)’s share price hit a new 52-week low during trading on Monday after TD Cowen lowered their price target on the stock from $14.00 to $13.00. TD Cowen currently has a sell rating on the stock. Navient traded as low as $13.74 and last traded at $13.76, with a volume of 40880 shares trading hands. The stock had previously closed at $13.99.

NAVI has been the subject of several other research reports. JPMorgan Chase & Co. boosted their price target on shares of Navient from $15.00 to $16.00 and gave the company a “neutral” rating in a report on Monday, October 7th. Keefe, Bruyette & Woods upped their target price on Navient from $15.00 to $16.00 and gave the stock a “market perform” rating in a report on Thursday, July 25th. Barclays lifted their price target on Navient from $10.00 to $11.00 and gave the company an “underweight” rating in a report on Tuesday, October 8th. Finally, Bank of America assumed coverage on Navient in a research note on Monday, September 30th. They issued a “neutral” rating and a $17.00 target price on the stock. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $15.78.

Check Out Our Latest Stock Report on NAVI

Hedge Funds Weigh In On Navient

Institutional investors and hedge funds have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC acquired a new stake in Navient during the first quarter worth about $36,000. IAG Wealth Partners LLC acquired a new stake in shares of Navient during the 2nd quarter worth approximately $50,000. Signaturefd LLC increased its holdings in shares of Navient by 22.1% during the 2nd quarter. Signaturefd LLC now owns 4,797 shares of the credit services provider’s stock valued at $70,000 after purchasing an additional 869 shares in the last quarter. nVerses Capital LLC acquired a new position in shares of Navient in the 3rd quarter valued at $87,000. Finally, Harbor Capital Advisors Inc. purchased a new stake in Navient during the third quarter worth $95,000. Institutional investors and hedge funds own 97.14% of the company’s stock.

Navient Trading Up 1.5 %

The company’s 50-day moving average is $15.54 and its 200 day moving average is $15.26. The company has a market cap of $1.52 billion, a price-to-earnings ratio of 20.58 and a beta of 1.39. The company has a quick ratio of 9.99, a current ratio of 9.49 and a debt-to-equity ratio of 16.59.

Navient (NASDAQ:NAVIGet Free Report) last announced its earnings results on Wednesday, October 30th. The credit services provider reported $1.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $1.20. The business had revenue of $1.22 billion for the quarter, compared to analyst estimates of $150.04 million. Navient had a net margin of 1.71% and a return on equity of 8.62%. During the same quarter last year, the business earned $0.84 earnings per share. Research analysts predict that Navient Co. will post 1.39 EPS for the current year.

Navient Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 20th. Shareholders of record on Friday, September 6th were issued a dividend of $0.16 per share. The ex-dividend date of this dividend was Friday, September 6th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 4.51%. Navient’s payout ratio is currently 92.75%.

About Navient

(Get Free Report)

Navient Corporation provides technology-enabled education finance and business processing solutions for education, health care, and government clients in the United States. It operates through three segments: Federal Education Loans, Consumer Lending, and Business Processing. The company owns Federal Family Education Loan Program (FFELP) loans that are insured or guaranteed by state or not-for-profit agencies; and performs servicing on its portfolios, as well as federal education loans held by other institutions.

Further Reading

Receive News & Ratings for Navient Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Navient and related companies with MarketBeat.com's FREE daily email newsletter.