SLM (NASDAQ:SLM) Announces Earnings Results

by · The Cerbat Gem

SLM (NASDAQ:SLM – Get Free Report) posted its earnings results on Wednesday. The credit services provider reported ($0.23) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.30), Briefing.com reports. The company had revenue of $652.64 million for the quarter, compared to analysts’ expectations of $363.40 million. SLM had a return on equity of 41.84% and a net margin of 24.67%. During the same quarter in the prior year, the company earned $0.11 EPS. SLM updated its FY 2024 guidance to 2.700-2.800 EPS.

SLM Trading Up 1.5 %

NASDAQ:SLM traded up $0.34 during trading hours on Friday, reaching $22.55. The company’s stock had a trading volume of 256,268 shares, compared to its average volume of 1,781,034. The company has a debt-to-equity ratio of 2.66, a quick ratio of 1.26 and a current ratio of 1.26. The firm has a market capitalization of $4.95 billion, a price-to-earnings ratio of 6.94, a PEG ratio of 0.60 and a beta of 1.15. The firm has a 50-day simple moving average of $21.92 and a 200-day simple moving average of $21.50. SLM has a 1 year low of $12.26 and a 1 year high of $23.95.

SLM Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Thursday, December 5th will be issued a dividend of $0.13 per share. The ex-dividend date is Thursday, December 5th. This represents a $0.52 annualized dividend and a dividend yield of 2.31%. This is a positive change from SLM’s previous quarterly dividend of $0.11. SLM’s dividend payout ratio (DPR) is currently 13.75%.

Analyst Ratings Changes

Several research analysts have commented on SLM shares. Keefe, Bruyette & Woods raised their target price on SLM from $25.00 to $27.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Barclays cut their price objective on shares of SLM from $27.00 to $26.00 and set an “overweight” rating for the company in a research report on Thursday. Deutsche Bank Aktiengesellschaft upped their target price on shares of SLM from $25.00 to $29.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Wells Fargo & Company raised their price target on shares of SLM from $24.00 to $27.00 and gave the company an “overweight” rating in a report on Friday, July 26th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $26.00 price target on shares of SLM in a report on Thursday. Two analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $24.67.

View Our Latest Stock Analysis on SLM

Insider Buying and Selling at SLM

In other news, Director Robert S. Strong sold 4,500 shares of SLM stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $22.70, for a total value of $102,150.00. Following the transaction, the director now owns 101,093 shares in the company, valued at approximately $2,294,811.10. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.20% of the company’s stock.

SLM Company Profile

(Get Free Report)

SLM Corporation, through its subsidiaries, originates and services private education loans to students and their families to finance the cost of their education in the United States. It is also involved in the provision of retail deposit accounts, including certificates of deposit, money market accounts, and high-yield savings accounts; and interest-bearing omnibus accounts.

Featured Articles