Navient Corp reports results for the quarter ended in June - Earnings Summary

Navient

24/07/2024 14:51

* Navient Corp  NAVI.OQ  reported quarterly adjusted
earnings of
29 cents​​ per share for the quarter ended in June, lower than
the same quarter last year, when the company reported EPS of 70
cents.  The mean expectation of nine analysts for the quarter
was for earnings of 43 cents per share. Wall Street expected
results to range from 37 cents to 51 cents per share.
    * Revenue fell 27% to $130.00 million from a year ago;
analysts
expected $158.67 million. 
    * Navient Corp's reported EPS for the quarter was 32 cents​.
    * The company reported quarterly net income of $36 million.
    * Navient Corp shares had risen by 6.7% this quarter and
lost 16.5% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 18.1%
in the last three months.​ 
    * In the last 30 days, four analysts negatively revised
earnings
estimates

RECOMMENDATIONS
    * The current average analyst rating on the shares is "hold"
and
the breakdown of recommendations is no "strong buy" or "buy," 7
"hold" and 2 "sell" or "strong sell." 
    * The average consensus recommendation for the consumer
lending
peer group is also "hold"

Wall Street's median 12-month price target for Navient Corp is
$15.00 
This summary was machine generated from LSEG data July 24 at
01:50 p.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Jun. 30 2024      0.43           0.29           Missed
 Mar. 31 2024      0.58           0.47           Missed
 Dec. 31 2023      0.75           0.21           Missed
 Sep. 30 2023      0.74           0.47           Missed