Navient (NAVI) Misses on Q4 Earnings, Plans Strategic Actions [Yahoo! Finance]
Navient Corporation (NAVI)
Last navient corporation earnings: 4/21 04:14 pm
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Source: Yahoo! Finance
Also, the bottom line was lower than the prior-year quarter's 76 cents. Results were adversely impacted by a fall in total other income and core net interest income (NII). Further, a rise in expenses acted as a headwind. Nonetheless, strategic actions announced by the company will support its financials in the upcoming period. Navient's GAAP net loss was $28 million. It recorded net income of $105 million in the prior-year quarter. For 2023, core earnings per share were $2.45, comparing unfavorably with the year-ago figure of $3.19 and missing the Zacks Consensus Estimate of $3.49. Net income (GAAP) was $228 million or $1.85 per share, down from $645 million or $4.49 per share in 2022. NII Declines, Expenses Increase Core NII plunged 16.8% year over year to $193 million in the fourth quarter. Further, it missed the Zacks Consensus Estimate of $210.8 million. In 2023, core NII was down 7.8% from the prior year to $946 million. Also, the top line missed the Zacks Consensus E
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NAVI
News
- Navient Co. (NASDAQ: NAVI) had its price target lowered by analysts at TD Cowen from $14.00 to $13.00. They now have a "sell" rating on the stock.MarketBeat
- Federal Student Aid head will step down. His office has been roiled by FAFSA problems [CNN]CNN
- Navient First Quarter 2024 Earnings: EPS Beats Expectations, Revenues Lag [Yahoo! Finance]Yahoo! Finance
- Navient Co. (NASDAQ: NAVI) had its price target lowered by analysts at JPMorgan Chase & Co. from $17.00 to $16.00. They now have a "neutral" rating on the stock.MarketBeat
- Navient Co. (NASDAQ: NAVI) had its price target lowered by analysts at Barclays PLC from $13.00 to $11.00. They now have an "underweight" rating on the stock.MarketBeat
NAVI
Earnings
- 4/25/24 - Miss
NAVI
Sec Filings
- 4/29/24 - Form 8-K
- 4/25/24 - Form 8-K/A
- 4/24/24 - Form 10-Q
- NAVI's page on the SEC website