SLM (NASDAQ:SLM) Releases FY 2024 Earnings Guidance

SLM (NASDAQ:SLM) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided EPS guidance of 2.700-2.800 for the period, compared to the consensus EPS estimate of 2.830. The company issued revenue guidance of -.

SLM Stock Performance

Shares of SLM stock traded down $0.31 during trading hours on Friday, reaching $21.90. 2,880,563 shares of the stock traded hands, compared to its average volume of 1,793,484. The company has a 50 day moving average price of $21.94 and a 200 day moving average price of $21.50. SLM has a one year low of $12.26 and a one year high of $23.95. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 2.66. The firm has a market capitalization of $4.81 billion, a price-to-earnings ratio of 6.84, a P/E/G ratio of 0.60 and a beta of 1.15.

SLM (NASDAQ:SLM) last issued its quarterly earnings results on Wednesday, October 23rd. The credit services provider reported ($0.23) EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.30). The company had revenue of $652.64 million during 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 previous year, the company earned $0.11 EPS. On average, equities research analysts expect that SLM will post 2.85 earnings per share for the current fiscal year.

SLM Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Thursday, December 5th will be paid a dividend of $0.13 per share. This is a boost from SLM’s previous quarterly dividend of $0.11. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.37%. SLM’s payout ratio is 13.75%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on SLM. Deutsche Bank Aktiengesellschaft increased their target price on SLM from $25.00 to $29.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Barclays lowered their target price on shares of SLM from $27.00 to $26.00 and set an “overweight” rating on the stock in a report on Thursday. Keefe, Bruyette & Woods raised their target price on shares of SLM from $25.00 to $27.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Royal Bank of Canada reiterated an “outperform” rating and issued a $26.00 price target on shares of SLM in a research note on Thursday. Finally, Wells Fargo & Company raised their price objective on SLM from $24.00 to $27.00 and gave the company an “overweight” rating in a research report on Friday, July 26th. Two investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $24.67.

Insiders Place Their Bets

In related news, Director Robert S. Strong sold 4,500 shares of the business’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $22.70, for a total transaction of $102,150.00. Following the completion of the transaction, the director now owns 101,093 shares in the company, valued at $2,294,811.10. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.20% of the stock is owned by insiders.

About SLM

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.