$296.28 Million in Sales Expected for SLM Corp (SLM) This Quarter

Wall Street analysts forecast that SLM Corp (NASDAQ:SLM) will announce sales of $296.28 million for the current quarter, Zacks reports. Three analysts have issued estimates for SLM’s earnings, with the highest sales estimate coming in at $300.70 million and the lowest estimate coming in at $293.53 million. SLM reported sales of $245.43 million in the same quarter last year, which indicates a positive year over year growth rate of 20.7%. The company is expected to issue its next earnings results on Wednesday, January 17th.

On average, analysts expect that SLM will report full-year sales of $296.28 million for the current fiscal year, with estimates ranging from $1.11 billion to $1.12 billion. For the next fiscal year, analysts anticipate that the business will post sales of $1.29 billion per share, with estimates ranging from $1.26 billion to $1.32 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that that provide coverage for SLM.

SLM (NASDAQ:SLM) last released its quarterly earnings results on Wednesday, October 18th. The credit services provider reported $0.17 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.17. SLM had a net margin of 22.95% and a return on equity of 16.63%. The firm had revenue of $282.06 million for the quarter, compared to analysts’ expectations of $282.02 million. During the same quarter last year, the company earned $0.12 EPS. The firm’s revenue for the quarter was up 26.3% compared to the same quarter last year.

Several research firms have recently commented on SLM. BidaskClub lowered SLM from a “sell” rating to a “strong sell” rating in a report on Thursday, November 2nd. Zacks Investment Research upgraded shares of SLM from a “sell” rating to a “hold” rating in a report on Wednesday, September 6th. BMO Capital Markets restated a “hold” rating and issued a $12.00 price objective on shares of SLM in a report on Friday, October 6th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $16.00 target price on shares of SLM in a research report on Friday, December 22nd. Finally, Wedbush reaffirmed an “outperform” rating and issued a $14.50 target price on shares of SLM in a research report on Thursday, September 14th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the company’s stock. SLM presently has an average rating of “Hold” and an average price target of $13.89.

In related news, CEO Raymond J. Quinlan sold 200,000 shares of the company’s stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $11.52, for a total value of $2,304,000.00. Following the completion of the transaction, the chief executive officer now directly owns 1,080,133 shares of the company’s stock, valued at $12,443,132.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Jonathan Boyles sold 2,776 shares of the company’s stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $11.65, for a total value of $32,340.40. Following the completion of the transaction, the senior vice president now directly owns 173,728 shares of the company’s stock, valued at $2,023,931.20. The disclosure for this sale can be found here. Insiders own 0.59% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in SLM. Steward Partners Investment Advisory LLC purchased a new stake in SLM in the third quarter valued at approximately $115,000. Crossmark Global Holdings Inc. purchased a new stake in SLM in the third quarter valued at approximately $666,000. Canada Pension Plan Investment Board purchased a new stake in SLM in the third quarter valued at approximately $1,248,000. SG Americas Securities LLC lifted its stake in SLM by 26.0% in the third quarter. SG Americas Securities LLC now owns 170,874 shares of the credit services provider’s stock valued at $1,960,000 after buying an additional 35,305 shares during the last quarter. Finally, Dorsey Wright & Associates lifted its stake in SLM by 1.2% in the second quarter. Dorsey Wright & Associates now owns 185,539 shares of the credit services provider’s stock valued at $2,134,000 after buying an additional 2,245 shares during the last quarter. 99.24% of the stock is owned by hedge funds and other institutional investors.

SLM (NASDAQ:SLM) traded down $0.04 during trading on Thursday, reaching $11.30. 2,972,800 shares of the company were exchanged, compared to its average volume of 2,801,200. SLM has a 1 year low of $9.65 and a 1 year high of $13.20. The firm has a market cap of $4,950.00, a PE ratio of 16.87 and a beta of 1.32. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 1.35.

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SLM Company Profile

SLM Corporation (Sallie Mae) is the nation’s saving, planning, and paying for college company. Sallie Mae offers products, which promote personal finance including private education loans, Upromise rewards, scholarship search, college financial planning tools, insurance, and online retail banking.

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