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 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 Trading Down 1.0 %

Shares of SLM stock traded down $0.23 during trading on Wednesday, hitting $22.80. 1,325,457 shares of the company were exchanged, compared to its average volume of 1,773,825. The firm has a market capitalization of $4.96 billion, a P/E ratio of 7.17, a price-to-earnings-growth ratio of 0.60 and a beta of 1.15. The firm’s fifty day moving average price is $21.86 and its 200 day moving average price is $21.48. The company has a debt-to-equity ratio of 2.66, a current ratio of 1.26 and a quick ratio of 1.26. SLM has a 1-year low of $12.26 and a 1-year high of $23.95.

SLM (NASDAQ:SLM) last announced its quarterly earnings results on Wednesday, July 24th. The credit services provider reported $1.11 earnings per share for the quarter, topping analysts’ consensus estimates of $0.79 by $0.32. SLM had a net margin of 24.67% and a return on equity of 41.84%. The company had revenue of $783.28 million for the quarter, compared to analysts’ expectations of $368.97 million. During the same period last year, the firm posted $1.10 earnings per share. As a group, sell-side analysts expect that SLM will post 2.85 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

SLM has been the subject of a number of recent research reports. Wells Fargo & Company upped their price target on SLM from $24.00 to $27.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. JPMorgan Chase & Co. decreased their target price on shares of SLM from $25.00 to $24.00 and set a “neutral” rating for the company in a research report on Monday, October 7th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of SLM from $25.00 to $29.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. Wedbush decreased their price target on SLM from $29.00 to $26.00 and set an “outperform” rating for the company in a research note on Tuesday, September 24th. Finally, Barclays increased their price objective on SLM from $23.00 to $27.00 and gave the company an “overweight” rating in a report on Tuesday, October 8th. Two analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, SLM currently has a consensus rating of “Moderate Buy” and an average price target of $24.83.

Insider Buying and Selling

In related news, Director Robert S. Strong sold 4,500 shares of the 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 directly owns 101,093 shares in the company, valued at $2,294,811.10. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.20% of the stock is currently owned by corporate insiders.

SLM Company Profile

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.