SLM Corp (NASDAQ:SLM) to Post Q3 2018 Earnings of $0.25 Per Share, Wedbush Forecasts

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SLM Corp (NASDAQ:SLM) – Analysts at Wedbush raised their Q3 2018 earnings estimates for SLM in a note issued to investors on Tuesday, October 16th, according to Zacks Investment Research. Wedbush analyst H. Coffey now expects that the credit services provider will post earnings of $0.25 per share for the quarter, up from their previous forecast of $0.24. Wedbush also issued estimates for SLM’s Q4 2018 earnings at $0.26 EPS.

SLM (NASDAQ:SLM) last released its quarterly earnings results on Monday, October 22nd. The credit services provider reported $0.23 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.24 by ($0.01). SLM had a return on equity of 18.84% and a net margin of 22.81%. The firm had revenue of $356.63 million for the quarter, compared to analysts’ expectations of $350.10 million. During the same period last year, the firm earned $0.17 EPS.

Several other equities research analysts also recently issued reports on SLM. Zacks Investment Research raised shares of SLM from a “hold” rating to a “buy” rating and set a $12.00 price target on the stock in a research note on Thursday, October 25th. Oppenheimer set a $16.00 price target on shares of SLM and gave the stock a “buy” rating in a research note on Wednesday, July 25th. ValuEngine downgraded shares of SLM from a “hold” rating to a “sell” rating in a research note on Thursday, August 2nd. Finally, BidaskClub downgraded shares of SLM from a “sell” rating to a “strong sell” rating in a research note on Tuesday, October 9th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and ten have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $14.57.

SLM stock traded down $0.10 during midday trading on Friday, hitting $10.49. 2,924,601 shares of the stock were exchanged, compared to its average volume of 3,018,341. SLM has a 1 year low of $9.65 and a 1 year high of $12.46. The company has a market capitalization of $4.52 billion, a price-to-earnings ratio of 11.04, a price-to-earnings-growth ratio of 0.52 and a beta of 1.21. The company has a debt-to-equity ratio of 1.86, a current ratio of 1.41 and a quick ratio of 1.41.

A number of hedge funds have recently made changes to their positions in the business. Dimensional Fund Advisors LP boosted its holdings in shares of SLM by 0.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 5,052,974 shares of the credit services provider’s stock valued at $56,644,000 after buying an additional 29,107 shares during the period. Stifel Financial Corp acquired a new position in shares of SLM in the 1st quarter valued at about $292,000. Principal Financial Group Inc. boosted its holdings in shares of SLM by 3.0% in the 1st quarter. Principal Financial Group Inc. now owns 1,891,716 shares of the credit services provider’s stock valued at $21,206,000 after buying an additional 55,014 shares during the period. Northwestern Mutual Investment Management Company LLC boosted its holdings in shares of SLM by 56.8% in the 1st quarter. Northwestern Mutual Investment Management Company LLC now owns 88,712 shares of the credit services provider’s stock valued at $994,000 after buying an additional 32,149 shares during the period. Finally, Legal & General Group Plc boosted its holdings in shares of SLM by 1.2% in the 1st quarter. Legal & General Group Plc now owns 653,731 shares of the credit services provider’s stock valued at $7,329,000 after buying an additional 7,738 shares during the period.

About SLM

SLM Corporation, together with 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 and their families. Its loan portfolio also includes federal family education loan program, personal, and other loans.

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