Navient Corp (NAVI) announced its most recent quarterly financial results on Tuesday, Oct-18-2016. NAVI said it had a profit of $0.50 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.02. Analysts had a consensus of $0.48. The company posted revenue of $405.00 million in the period, compared to analysts expectations of $392.67 million. NAVI’s revenue was down -12.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.47 EPS.
Many Wall Street Analysts have commented on Navient Corp. Navient Corp was Downgraded by Goldman to ” Neutral” on Jul 21, 2016.
Navient Corp opened for trading at $14.04 and hit $14.16 on the upside on Friday, eventually ending the session at $13.91, with a gain of 0.07% or 0.01 points. The heightened volatility saw the trading volume jump to 29,40,383 shares. Company has a market cap of $4,410 M.
Investors should note that on Oct 6, 2016, Navient Corp announced a cash dividend of $0.1600. The company’s management has announced Nov 30, 2016 as the ex-dividend date and fixed the record date on Dec 2, 2016. The payable date has been fixed on Dec 16, 2016.
In a different news, on Aug 23, 2016, William M Iii Diefenderfer (director) sold 16,300 shares at $14.20 per share price. According to the SEC, on Jul 27, 2016, Bates Ann Torre (director) sold 9,000 shares at $14.23 per share price. On Feb 10, 2016, John F Remondi (CEO) purchased 80,000 shares at $8.79 per share price, according to the Form-4 filing with the securities and exchange commission.
Navient Corporation is a loan management servicing and asset recovery company. The Company holds the portfolio of education loans insured or guaranteed under the Federal Family Education Loan Program (FFELP) as well as the portfolio of Private Education Loans. FFELP Loans are insured or guaranteed by state based on guaranty agreements among the United States Department of Education (ED) and these agencies. Private Education Loans are education loans to students or their families that bear the full credit risk of the customer and any cosigner. The Company operates in three segments: FFELP Loans Private Education Loans and Business Services. The Company services its own portfolio of education loans as well as those owned by banks credit unions non-profit education lenders and ED. It also provides asset recovery services on its own portfolio guaranty agencies higher education institutions ED and other federal clients as well as states courts and municipalities.