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Navient Corporation's revenue has declined by 18% YoY, raising concerns about the impact of the new CEO's leadership. Investing in educational loan offerings like Navient is risky due to the uncertain market environment and loan forgiveness discussions. Navient generates substantial cash flows from educational financing and aims to focus on lending for potential growth in the future.
A fall in core NII and total other income, and higher expenses hinder Navient's (NAVI) second-quarter 2023 earnings.
Navient (NAVI) came out with quarterly earnings of $0.70 per share, missing the Zacks Consensus Estimate of $0.76 per share. This compares to earnings of $0.92 per share a year ago.
Declining NII, weakening loan demand, and a rise in expenses are likely to affect Navient's (NAVI) Q2 results. Nonetheless, growth in fee income is likely to support financials.
SoFi, Navient, and SLM stand to benefit from payment resumption as some borrowers will need to extend and refinance their loans. The Biden administration is considering alternatives to provide relief to borrowers, which may affect the timing of student loan repayments.
HERNDON, Va., July 11, 2023 (GLOBE NEWSWIRE) -- Navient (Nasdaq: NAVI), a leader in technology-enabled education finance and business processing solutions, will host an audio webcast to review its 2023 second quarter financial results on Wednesday, July 26, 2023, at 8:00 a.m. Eastern Time. The results are scheduled to be released the same day by 7:00 a.m. on Navient.com/investors. In addition to being available on the company's investor website, the results will be filed with the SEC on a Form 8-K available at SEC.gov.
Navient provides student loans and should benefit from the recent debt ceiling deal, which resumes student loan payments later this year. There could be an uptick in student loan re-financings if borrowers look to extend the duration of their loans.
Navient's (NAVI) focus on in-school loan originations and recurring revenue business model aid top-line growth. However, low liquidity, limited growth prospects and loan repricing risks are concerning.
A fall in core net interest income (NII) and total other income, as well as higher expenses, hinders Navient's (NAVI) first-quarter 2023 earnings. However, a decrease in expenses acts as a tailwind.
Navient (NAVI) came out with quarterly earnings of $1.06 per share, beating the Zacks Consensus Estimate of $0.88 per share. This compares to earnings of $0.90 per share a year ago.