SLM (SLM) Posts Quarterly Earnings Results, Beats Estimates By $0.04 EPS

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

NASDAQ SLM opened at $9.90 on Friday. SLM has a 12 month low of $7.95 and a 12 month high of $12.46. The company has a debt-to-equity ratio of 1.67, a quick ratio of 1.38 and a current ratio of 1.38. The firm has a market cap of $4.40 billion, a price-to-earnings ratio of 9.25, a P/E/G ratio of 0.42 and a beta of 1.48.

In other SLM news, SVP Jonathan Boyles sold 68,000 shares of the stock in a transaction on Friday, March 1st. The shares were sold at an average price of $11.20, for a total transaction of $761,600.00. Following the transaction, the senior vice president now directly owns 67,679 shares in the company, valued at approximately $758,004.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 transaction of $277,500.00. Following the transaction, the executive vice president now owns 208,049 shares in the company, valued at $2,309,343.90. The disclosure for this sale can be found here. Insiders have sold a total of 93,805 shares of company stock worth $1,047,625 over the last quarter. 0.36% of the stock is currently owned by insiders.

Several institutional investors have recently bought and sold shares of SLM. Huntington National Bank increased its holdings in shares of SLM by 69.2% in the 1st quarter. Huntington National Bank now owns 2,890 shares of the credit services provider’s stock worth $29,000 after acquiring an additional 1,182 shares during the period. Doyle Wealth Management acquired a new stake in shares of SLM in the 4th quarter worth about $44,000. Pearl River Capital LLC acquired a new stake in shares of SLM in the 4th quarter worth about $48,000. Quantamental Technologies LLC acquired a new position in SLM during the 4th quarter valued at about $65,000. Finally, Shufro Rose & Co. LLC acquired a new position in SLM during the 4th quarter valued at about $83,000.

SLM has been the subject of several analyst reports. Zacks Investment Research restated a “buy” rating and issued a $9.00 target price on shares of SLM in a research note on Monday, December 31st. BidaskClub upgraded shares of SLM from a “strong sell” rating to a “sell” rating in a research note on Tuesday, December 25th. ValuEngine downgraded shares of SLM from a “hold” rating to a “sell” rating in a research note on Tuesday, March 5th. Wedbush restated an “outperform” rating on shares of SLM in a research note on Tuesday, January 29th. Finally, TheStreet downgraded shares of SLM from a “b” rating to a “c+” rating in a research note on Thursday, January 10th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $13.18.

TRADEMARK VIOLATION WARNING: “SLM (SLM) Posts Quarterly Earnings Results, Beats Estimates By $0.04 EPS” was published by Chaffey Breeze and is the property of of Chaffey Breeze. If you are accessing this report on another publication, it was illegally copied and reposted in violation of U.S. & international copyright & trademark laws. The original version of this report can be read at https://www.chaffeybreeze.com/2019/04/19/slm-slm-posts-quarterly-earnings-results-beats-estimates-by-0-04-eps.html.

About SLM

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.

See Also: New Google Finance Tool and Screening Stocks

Earnings History for SLM (NASDAQ:SLM)

Receive News & Ratings for SLM Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SLM and related companies with MarketBeat.com's FREE daily email newsletter.