Navient (NASDAQ:NAVI) Hits New 1-Year Low After Analyst Downgrade

Shares of Navient Co. (NASDAQ:NAVI) reached a new 52-week low 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. lifted their price objective on Navient from $15.00 to $16.00 and gave the stock a “neutral” rating in a report on Monday, October 7th. Keefe, Bruyette & Woods upped their price target on shares of Navient from $15.00 to $16.00 and gave the company a “market perform” rating in a research report on Thursday, July 25th. Barclays raised their price objective on shares of Navient from $10.00 to $11.00 and gave the stock an “underweight” rating in a report on Tuesday, October 8th. Finally, Bank of America assumed coverage on shares of Navient in a report on Monday, September 30th. They set a “neutral” rating and a $17.00 target price for the company. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, Navient has an average rating of “Hold” and an average target price of $15.78.

Institutional Investors Weigh In On Navient

Institutional investors and hedge funds have recently bought and sold shares of the business. Allspring Global Investments Holdings LLC purchased a new position in Navient in the 1st quarter worth approximately $36,000. IAG Wealth Partners LLC purchased a new position in shares of Navient in the second quarter worth $50,000. Signaturefd LLC boosted its position in shares of Navient by 22.1% during the second quarter. Signaturefd LLC now owns 4,797 shares of the credit services provider’s stock worth $70,000 after acquiring an additional 869 shares during the last quarter. nVerses Capital LLC bought a new position in shares of Navient during the third quarter worth $87,000. Finally, Harbor Capital Advisors Inc. purchased a new position in Navient during the third quarter valued at $95,000. 97.14% of the stock is owned by institutional investors.

Navient Stock Performance

The business’s fifty day simple moving average is $15.54 and its 200-day simple moving average is $15.26. The company has a market capitalization of $1.52 billion, a P/E ratio of 20.58 and a beta of 1.39. The company has a debt-to-equity ratio of 16.59, a quick ratio of 9.99 and a current ratio of 9.49.

Navient (NASDAQ:NAVI) last issued its quarterly earnings data on Wednesday, October 30th. The credit services provider reported $1.45 EPS for the quarter, topping analysts’ consensus estimates of $0.25 by $1.20. Navient had a net margin of 1.71% and a return on equity of 8.62%. The business had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $150.04 million. During the same period last year, the company posted $0.84 EPS. As a group, equities analysts anticipate that Navient Co. will post 1.39 earnings per share for the current fiscal year.

Navient Announces Dividend

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

Navient Company Profile

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.