Navient Cp Down 6.17% To $16.06 After Earnings

Navient Corp (NAVI) reported less than expected earnings this morning for Q3 2023.

reported that it broke-even during the quarter.

Revenues were downbeat at $0.00. Keep in mind that the revenues reported were on an adjusted basis, so they may not be directly comparable to estimates and prior periods.

The stock is down 6.17% to $16.06 after the report.

The firm's lower revenue growth to earnings signals that the firm has been able to reduce costs and improve its profit margin overall.

The average recommendation from Wall Street analysts was a Hold which may get revised based on this new data.

Trading in the five days leading up to the report earned Navient Cp a Bearish Sentiment Rank from InvestorsObserver.

Navient Cp has performed a little above average during the past few months. Before the report, Navient Cp received a Long-Term Technical Rank by InvestorsObserver of 56, putting it in the top half of stocks. The firm set a 52-week high on July 19, 2023 at $19.69 and set a 52-week low on November 3, 2022 at $14.21.

Navient Corp is a financial services company that provides education loan management and business processing services to education, healthcare, and government clients at the federal, state, and local levels. The company operates in Delaware, western New York, northern Pennsylvania, Indiana, Tennessee, Texas, and Virginia, among other locations. The company has three primary reportable business segments: Federal Education Loans, Consumer Lending and Business Processing. The company's fourth and other segment relates to financial results of the company's holding company, including activities related to repurchases of debt, corporate liquidity portfolio, and unallocated overhead and regulatory-related costs.