SLM (SLM) Announces Quarterly Earnings Results

SLM (NASDAQ:SLM) released its quarterly earnings data on Wednesday. The credit services provider reported $0.34 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.30 by $0.04, RTT News reports. SLM had a return on equity of 20.05% and a net margin of 26.07%. The business had revenue of $402.28 million for the quarter, compared to analyst estimates of $384.70 million. During the same quarter in the prior year, the firm posted $0.28 EPS. The business’s quarterly revenue was up 20.9% compared to the same quarter last year. SLM updated its FY19 guidance to $1.23-1.26 EPS.

Shares of SLM stock opened at $10.07 on Thursday. The company has a debt-to-equity ratio of 1.67, a current ratio of 1.38 and a quick ratio of 1.38. The company has a market cap of $4.46 billion, a PE ratio of 9.41, a price-to-earnings-growth ratio of 0.42 and a beta of 1.48. SLM has a 1-year low of $7.95 and a 1-year high of $12.46.

In related news, SVP Jonathan Boyles sold 68,000 shares of the stock in a transaction on Friday, March 1st. The stock was sold at an average price of $11.20, for a total value of $761,600.00. Following the completion of the transaction, the senior vice president now directly owns 67,679 shares of the company’s stock, valued at approximately $758,004.80. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Paul F. Thome sold 25,000 shares of the stock in a transaction on Wednesday, February 27th. The shares were sold at an average price of $11.10, for a total value of $277,500.00. Following the completion of the transaction, the executive vice president now directly owns 208,049 shares of the company’s stock, valued at $2,309,343.90. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 93,805 shares of company stock valued at $1,047,625. Corporate insiders own 0.36% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of SLM. Norges Bank acquired a new position in SLM in the 4th quarter valued at $22,405,000. Bayview Asset Management LLC acquired a new position in SLM in the 4th quarter valued at $20,475,000. CI Investments Inc. raised its stake in SLM by 33.8% in the 4th quarter. CI Investments Inc. now owns 9,058,926 shares of the credit services provider’s stock valued at $75,280,000 after purchasing an additional 2,289,626 shares during the last quarter. BlackRock Inc. raised its stake in SLM by 4.4% in the 4th quarter. BlackRock Inc. now owns 43,240,757 shares of the credit services provider’s stock valued at $359,332,000 after purchasing an additional 1,823,633 shares during the last quarter. Finally, Portolan Capital Management LLC raised its stake in SLM by 80.3% in the 4th quarter. Portolan Capital Management LLC now owns 3,875,937 shares of the credit services provider’s stock valued at $32,209,000 after purchasing an additional 1,726,393 shares during the last quarter.

Several research firms have commented on SLM. ValuEngine lowered SLM from a “hold” rating to a “sell” rating in a research report on Tuesday, March 5th. Wedbush restated an “outperform” rating on shares of SLM in a research report on Tuesday, January 29th. TheStreet raised SLM from a “c+” rating to a “b-” rating in a research note on Monday, January 28th. BMO Capital Markets raised SLM from a “market perform” rating to an “outperform” rating in a research note on Friday, January 25th. Finally, BidaskClub downgraded SLM from a “hold” rating to a “sell” rating in a research note on Wednesday, March 13th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $13.18.

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SLM Company Profile

SLM Corporation, through its subsidiaries, operates as a saving, planning, and paying for college company in the United States. The company originates and services private education loans to students or their families. It also offers retail deposit accounts, including certificates of deposit, money market deposit accounts, and high yield savings accounts; omnibus accounts; and a consumer savings network that provides financial rewards on everyday purchases to help families save for college.

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Earnings History for SLM (NASDAQ:SLM)

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