SLM (NASDAQ:SLM - Get Free Report) issued its earnings results on Wednesday. The credit services provider reported ($0.23) earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.30), Briefing.com reports. SLM had a net margin of 24.67% and a return on equity of 41.84%. During the same period in the previous year, the firm earned $0.11 EPS. SLM updated its FY 2024 guidance to 2.700-2.800 EPS.
SLM Price Performance
Shares of SLM stock traded down $0.59 during trading hours on Thursday, hitting $22.21. The stock had a trading volume of 4,723,994 shares, compared to its average volume of 1,788,436. SLM has a one year low of $12.26 and a one year high of $23.95. The company has a debt-to-equity ratio of 2.66, a current ratio of 1.26 and a quick ratio of 1.26. The stock's 50-day moving average price is $21.90 and its two-hundred day moving average price is $21.49. The stock has a market capitalization of $4.88 billion, a price-to-earnings ratio of 6.94, a PEG ratio of 0.60 and a beta of 1.15.
Analyst Upgrades and Downgrades
A number of research analysts have commented on SLM shares. Barclays lowered their price target on SLM from $27.00 to $26.00 and set an "overweight" rating for the company in a research report on Thursday. JPMorgan Chase & Co. lowered their price target on SLM from $25.00 to $24.00 and set a "neutral" rating for the company in a research report on Monday, October 7th. Wedbush reaffirmed an "outperform" rating and set a $26.00 price target on shares of SLM in a research report on Thursday. 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. Finally, Royal Bank of Canada reissued an "outperform" rating and issued a $26.00 target price on shares of SLM in a research report on Thursday. Two research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $24.67.
View Our Latest Analysis on SLM
Insider Transactions at SLM
In other news, Director Robert S. Strong sold 4,500 shares of SLM stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $22.70, for a total value of $102,150.00. Following the sale, the director now directly owns 101,093 shares of the company's stock, valued at approximately $2,294,811.10. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 1.20% of the company's stock.
SLM Company Profile
(
Get Free Report)
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.
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