SLM (SLM) Projected to Post Quarterly Earnings on Thursday

SLM (NASDAQ:SLM) is expected to be posting its quarterly earnings results after the market closes on Thursday, January 23rd. Analysts expect SLM to post earnings of $0.56 per share and revenue of $371,736.50 billion for the quarter. SLM has set its FY 2024 guidance at 2.700-2.800 EPS.

SLM (NASDAQ:SLM) last announced its quarterly earnings results on Wednesday, October 23rd. The credit services provider reported ($0.23) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.30). The firm had revenue of $652.64 million during the quarter, compared to analyst estimates of $363.40 million. SLM had a net margin of 22.18% and a return on equity of 35.92%. During the same period last year, the firm earned $0.11 EPS. On average, analysts expect SLM to post $3 EPS for the current fiscal year and $3 EPS for the next fiscal year.

SLM Stock Performance

Shares of SLM stock opened at $28.20 on Thursday. The stock’s fifty day simple moving average is $26.54 and its 200 day simple moving average is $23.49. The company has a current ratio of 1.29, a quick ratio of 1.27 and a debt-to-equity ratio of 3.21. The company has a market capitalization of $5.99 billion, a PE ratio of 9.83, a PEG ratio of 0.85 and a beta of 1.21. SLM has a 12 month low of $18.25 and a 12 month high of $28.91.

SLM Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Thursday, December 5th were given a dividend of $0.13 per share. The ex-dividend date was Thursday, December 5th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.84%. This is a positive change from SLM’s previous quarterly dividend of $0.11. SLM’s dividend payout ratio (DPR) is currently 18.12%.

Insiders Place Their Bets

In other SLM news, Director Robert S. Strong sold 4,500 shares of the stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $27.25, for a total value of $122,625.00. Following the completion of the sale, the director now owns 83,130 shares in the company, valued at $2,265,292.50. This trade represents a 5.14 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 1.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on SLM. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $30.00 target price (up from $27.00) on shares of SLM in a research note on Monday, December 9th. Wedbush restated an “outperform” rating and set a $26.00 price objective on shares of SLM in a report on Thursday, October 24th. Morgan Stanley upped their target price on shares of SLM from $26.00 to $32.00 and gave the stock an “overweight” rating in a research note on Thursday, December 19th. Bank of America began coverage on SLM in a research note on Wednesday, September 25th. They issued a “buy” rating and a $27.00 price target on the stock. Finally, JPMorgan Chase & Co. upped their price objective on SLM from $27.00 to $29.00 and gave the stock a “neutral” rating in a research report on Tuesday. Two research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, SLM currently has an average rating of “Moderate Buy” and a consensus target price of $27.45.

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.