SLM (NASDAQ:SLM) Updates FY 2024 Earnings Guidance

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

SLM Price Performance

Shares of SLM stock traded down $0.25 on Friday, reaching $21.96. The stock had a trading volume of 1,265,572 shares, compared to its average volume of 1,785,585. SLM has a 1 year low of $12.26 and a 1 year high of $23.95. The company has a market cap of $4.82 billion, a P/E ratio of 6.94, a price-to-earnings-growth ratio of 0.60 and a beta of 1.15. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 2.66. The business’s 50 day moving average is $21.92 and its two-hundred day moving average is $21.50.

SLM (NASDAQ:SLM) last announced its quarterly earnings results on Wednesday, October 23rd. The credit services provider reported ($0.23) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.30). SLM had a return on equity of 41.84% and a net margin of 24.67%. The firm had revenue of $652.64 million during the quarter, compared to analysts’ expectations of $363.40 million. During the same period in the previous year, the company posted $0.11 earnings per share. As a group, research analysts anticipate that SLM will post 2.85 EPS for the current year.

SLM Increases Dividend

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

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on SLM shares. Barclays lowered their price target 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. Wedbush reaffirmed an “outperform” rating and issued a $26.00 target price on shares of SLM in a research note on Thursday. JPMorgan Chase & Co. lowered their target price on shares of SLM from $25.00 to $24.00 and set a “neutral” rating on the stock in a research note on Monday, October 7th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on shares of SLM from $25.00 to $29.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Two investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $24.67.

Insider Buying and Selling

In related news, Director Robert S. Strong sold 4,500 shares of the firm’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $22.70, for a total value of $102,150.00. Following the completion of the sale, the director now owns 101,093 shares of the company’s stock, valued at $2,294,811.10. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 1.20% of the stock is currently 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.