The SLM Corporation (SLM) Releases FY17 Earnings Guidance

The SLM Corporation (SLM) Releases FY17 Earnings Guidance

SLM Corporation (NASDAQ:SLM) updated its FY17 earnings guidance on Wednesday. The company provided earnings per share guidance of $0.67-0.69 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.68.

Several brokerages have recently issued reports on SLM. Barclays PLC set a $14.00 price target on shares of SLM Corporation and gave the stock a buy rating in a research note on Sunday, January 8th. Keefe, Bruyette & Woods reiterated an outperform rating on shares of SLM Corporation in a research note on Wednesday, December 7th. Jefferies Group initiated coverage on shares of SLM Corporation in a research note on Wednesday, December 7th. They issued a buy rating and a $12.50 price objective for the company. FBR & Co initiated coverage on shares of SLM Corporation in a research note on Friday, December 2nd. They issued an outperform rating and a $13.00 price objective for the company. Finally, Zacks Investment Research upgraded shares of SLM Corporation from a hold rating to a buy rating and set a $11.00 price objective for the company in a research note on Tuesday, November 29th. One analyst has rated the stock with a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The stock has a consensus rating of Buy and a consensus target price of $10.51.

SLM Corporation (NASDAQ:SLM) opened at 11.04 on Thursday. The company has a 50-day moving average of $11.01 and a 200-day moving average of $8.34. The stock has a market capitalization of $4.73 billion, a price-to-earnings ratio of 19.03 and a beta of 1.29. SLM Corporation has a 1-year low of $5.34 and a 1-year high of $11.65.

SLM Corporation (NASDAQ:SLM) last issued its earnings results on Wednesday, January 18th. The company reported $0.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.14 by $0.01. The firm had revenue of $245.40 million for the quarter, compared to the consensus estimate of $239.70 million. SLM Corporation had a net margin of 23.86% and a return on equity of 16.80%. The business’s revenue was up 30.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.20 earnings per share. Analysts anticipate that SLM Corporation will post $0.52 earnings per share for the current fiscal year.

In other news, Director Earl A. Goode bought 10,000 shares of the company’s stock in a transaction dated Thursday, November 3rd. The shares were purchased at an average price of $7.03 per share, for a total transaction of $70,300.00. Following the completion of the purchase, the director now owns 73,084 shares in the company, valued at approximately $513,780.52. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.98% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently modified their holdings of the company. Advantus Capital Management Inc increased its position in shares of SLM Corporation by 0.5% in the third quarter. Advantus Capital Management Inc now owns 52,084 shares of the company’s stock valued at $389,000 after buying an additional 257 shares in the last quarter. Mackenzie Financial Corp increased its position in shares of SLM Corporation by 3.7% in the second quarter. Mackenzie Financial Corp now owns 36,601 shares of the company’s stock valued at $226,000 after buying an additional 1,316 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of SLM Corporation by 12.9% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,973 shares of the company’s stock valued at $112,000 after buying an additional 1,706 shares in the last quarter. Nuveen Asset Management LLC increased its position in shares of SLM Corporation by 0.5% in the second quarter. Nuveen Asset Management LLC now owns 387,534 shares of the company’s stock valued at $2,395,000 after buying an additional 2,010 shares in the last quarter. Finally, Ameritas Investment Partners Inc. increased its position in shares of SLM Corporation by 6.3% in the second quarter. Ameritas Investment Partners Inc. now owns 67,663 shares of the company’s stock valued at $418,000 after buying an additional 4,002 shares in the last quarter. Hedge funds and other institutional investors own 98.76% of the company’s stock.

SLM Corporation 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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