SLM Corp (SLM) Expected to Announce Quarterly Sales of $401.69 Million

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Wall Street brokerages predict that SLM Corp (NASDAQ:SLM) will post sales of $401.69 million for the current fiscal quarter, Zacks Investment Research reports. Four analysts have issued estimates for SLM’s earnings, with the lowest sales estimate coming in at $394.52 million and the highest estimate coming in at $407.40 million. SLM reported sales of $340.95 million in the same quarter last year, which indicates a positive year over year growth rate of 17.8%. The firm is scheduled to announce its next earnings results on Tuesday, July 23rd.

On average, analysts expect that SLM will report full year sales of $1.62 billion for the current year, with estimates ranging from $1.61 billion to $1.63 billion. For the next financial year, analysts anticipate that the business will post sales of $1.80 billion, with estimates ranging from $1.73 billion to $1.87 billion. Zacks’ sales averages are an average based on a survey of analysts that follow SLM.

SLM (NASDAQ:SLM) last posted its quarterly earnings results on Wednesday, April 17th. The credit services provider reported $0.34 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.30 by $0.04. SLM had a net margin of 25.77% and a return on equity of 20.28%. The firm had revenue of $402.28 million for the quarter, compared to analyst estimates of $384.70 million. During the same period in the prior year, the firm posted $0.28 earnings per share. The company’s quarterly revenue was up 20.9% compared to the same quarter last year.

Several analysts recently commented on the stock. Zacks Investment Research reaffirmed a “buy” rating and set a $9.00 target price on shares of SLM in a report on Monday, December 31st. ValuEngine cut shares of SLM from a “sell” rating to a “strong sell” rating in a report on Thursday, April 18th. Wedbush reissued an “outperform” rating on shares of SLM in a report on Tuesday, January 29th. TheStreet upgraded SLM from a “c+” rating to a “b-” rating in a report on Monday, January 28th. Finally, BMO Capital Markets upgraded SLM from a “market perform” rating to an “outperform” rating in a report on Friday, January 25th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and six have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $13.14.

NASDAQ:SLM opened at $10.08 on Thursday. SLM has a one year low of $7.95 and a one year high of $12.16. The firm has a market capitalization of $4.36 billion, a price-to-earnings ratio of 9.42, a P/E/G ratio of 0.41 and a beta of 1.48. The company has a debt-to-equity ratio of 1.69, a quick ratio of 1.38 and a current ratio of 1.38.

In other SLM news, EVP Paul F. Thome sold 25,000 shares of the company’s stock in a transaction on Wednesday, February 27th. The stock was sold at an average price of $11.10, for a total value of $277,500.00. Following the transaction, the executive vice president now directly owns 208,049 shares of the company’s stock, valued at approximately $2,309,343.90. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Jonathan Boyles sold 68,000 shares of the company’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $11.20, for a total value of $761,600.00. Following the completion of the transaction, the senior vice president now directly owns 67,679 shares in the company, valued at $758,004.80. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 93,805 shares of company stock worth $1,047,625. Insiders own 0.36% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. BlackRock Inc. grew its holdings in SLM by 4.4% in the 4th quarter. BlackRock Inc. now owns 43,240,757 shares of the credit services provider’s stock valued at $359,332,000 after buying an additional 1,823,633 shares in the last quarter. FMR LLC lifted its position in shares of SLM by 4.6% during the 4th quarter. FMR LLC now owns 29,595,693 shares of the credit services provider’s stock valued at $245,940,000 after acquiring an additional 1,304,978 shares during the period. Vanguard Group Inc lifted its position in shares of SLM by 1.9% during the 3rd quarter. Vanguard Group Inc now owns 26,510,575 shares of the credit services provider’s stock valued at $295,592,000 after acquiring an additional 487,512 shares during the period. Vanguard Group Inc. lifted its position in shares of SLM by 1.9% during the 3rd quarter. Vanguard Group Inc. now owns 26,510,575 shares of the credit services provider’s stock valued at $295,592,000 after acquiring an additional 487,512 shares during the period. Finally, Bank of New York Mellon Corp lifted its position in shares of SLM by 5.2% during the 4th quarter. Bank of New York Mellon Corp now owns 16,209,086 shares of the credit services provider’s stock valued at $134,698,000 after acquiring an additional 794,879 shares during the period.

SLM Company Profile

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.

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