SLM Corp. (NASDAQ:SLM) released its quarterly earnings results on Wednesday. The company reported $0.12 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.11 by $0.01. SLM Corp. had a return on equity of 16.85% and a net margin of 24.53%. The company earned $223 million during the quarter, compared to analysts’ expectations of $931.19 million. During the same period in the previous year, the firm posted $0.09 earnings per share. The business’s revenue for the quarter was up 27.4% compared to the same quarter last year. SLM Corp. updated its FY16 guidance to $0.52 EPS.
Shares of SLM Corp. (NASDAQ:SLM) traded down 0.28% during midday trading on Wednesday, reaching $7.23. The company’s stock had a trading volume of 3,742,235 shares. The stock has a 50-day moving average price of $7.36 and a 200 day moving average price of $6.89. SLM Corp. has a 52 week low of $5.09 and a 52 week high of $7.64. The stock has a market capitalization of $3.09 billion, a PE ratio of 13.15 and a beta of 1.06.
A number of research firms have recently weighed in on SLM. Citigroup Inc. began coverage on SLM Corp. in a report on Thursday, July 14th. They issued a “buy” rating and a $8.50 price target for the company. Goldman Sachs Group Inc. reissued a “buy” rating and issued a $9.00 price target on shares of SLM Corp. in a report on Wednesday, August 10th. Vetr raised SLM Corp. from a “buy” rating to a “strong-buy” rating and set a $8.62 price target for the company in a report on Wednesday, July 20th. TheStreet raised SLM Corp. from a “hold” rating to a “buy” rating in a report on Monday, August 1st. Finally, Zacks Investment Research raised SLM Corp. from a “hold” rating to a “buy” rating and set a $8.00 price target for the company in a report on Monday, July 25th. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $8.87.
A number of institutional investors have recently modified their holdings of the stock. Jane Street Group LLC bought a new stake in SLM Corp. during the second quarter valued at $117,000. Pacer Advisors Inc. bought a new stake in SLM Corp. during the second quarter valued at $175,000. Laurion Capital Management LP bought a new stake in SLM Corp. during the second quarter valued at $176,000. Seven Eight Capital LLC bought a new stake in SLM Corp. during the second quarter valued at $177,000. Finally, Mackenzie Financial Corp raised its stake in SLM Corp. 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.
About SLM Corp.
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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