Navient (NAVI) Q1 Earnings Beat on Lower Expenses, NII Dips [Yahoo! Finance]
Navient Corporation (NAVI)
Last navient corporation earnings: 4/21 04:14 pm
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Source: Yahoo! Finance
63 cents, surpassing the Zacks Consensus Estimate of 58 cents. It reported 86 cents in the prior-year quarter. Results were driven by a rise in total other income and a fall in expenses. However, a decline in net interest income (NII) has affected the results. Navient's GAAP net income was $73 million. It recorded a net income of $111 million in the prior-year quarter. NII Declines, Expenses Fall NII plunged 35% year over year to $152 million in the first quarter. Further, it missed the Zacks Consensus Estimate of $188.04 million. Total other income increased 53% year over year to $135 million. The upside stemmed from an increase in asset recovery and business processing revenues. Provision for loan losses was $12 million, while the company recorded a benefit of $14 million in the year-earlier quarter. Total expenses decreased 3% year over year to $187 million. Quarterly Performance of Segments Federal Education Loans: The segment generated a net income of $40 millio
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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
- 5/3/24 - Form 144
- 4/29/24 - Form 8-K
- 4/25/24 - Form 8-K/A
- NAVI's page on the SEC website