Zacks: Brokerages Expect SLM Corporation (SLM) Will Post Quarterly Sales of $296.28 Million

Wall Street brokerages predict that SLM Corporation (NASDAQ:SLM) will report $296.28 million in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for SLM Corporation’s earnings. The lowest sales estimate is $293.53 million and the highest is $300.70 million. SLM Corporation posted sales of $245.43 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 20.7%. The business is scheduled to report its next earnings report on Wednesday, January 17th.

According to Zacks, analysts expect that SLM Corporation will report full year sales of $296.28 million for the current fiscal year, with estimates ranging from $1.11 billion to $1.12 billion. For the next fiscal year, analysts anticipate that the business will report sales of $1.29 billion per share, with estimates ranging from $1.26 billion to $1.32 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that follow SLM Corporation.

SLM Corporation (NASDAQ:SLM) last posted its quarterly earnings data on Wednesday, October 18th. The credit services provider reported $0.17 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.17. SLM Corporation had a net margin of 22.95% and a return on equity of 16.63%. The company had revenue of $282.06 million for the quarter, compared to analyst estimates of $282.02 million. During the same period in the prior year, the firm posted $0.12 EPS. The company’s quarterly revenue was up 26.3% on a year-over-year basis.

Several research analysts recently issued reports on the stock. Zacks Investment Research raised shares of SLM Corporation from a “hold” rating to a “strong-buy” rating and set a $13.00 target price on the stock in a research note on Monday, July 17th. Wedbush reissued an “outperform” rating and set a $10.98 target price (down from $14.50) on shares of SLM Corporation in a research note on Friday, July 21st. FBR & Co cut their target price on shares of SLM Corporation from $14.00 to $13.00 and set an “outperform” rating on the stock in a research note on Friday, July 21st. BidaskClub lowered shares of SLM Corporation from a “sell” rating to a “strong sell” rating in a research note on Friday, October 13th. Finally, BMO Capital Markets reissued a “hold” rating and set a $12.00 target price on shares of SLM Corporation in a research note on Friday, October 6th. Two analysts have rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $13.44.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. HighTower Advisors LLC acquired a new position in SLM Corporation during the first quarter worth $125,000. Capstone Asset Management Co. raised its holdings in SLM Corporation by 0.5% during the second quarter. Capstone Asset Management Co. now owns 54,896 shares of the credit services provider’s stock worth $631,000 after buying an additional 260 shares during the last quarter. Crossmark Global Holdings Inc. acquired a new position in SLM Corporation during the third quarter worth $666,000. Canada Pension Plan Investment Board acquired a new position in SLM Corporation during the third quarter worth $1,248,000. Finally, SG Americas Securities LLC raised its holdings in SLM Corporation by 7.9% during the second quarter. SG Americas Securities LLC now owns 135,569 shares of the credit services provider’s stock worth $1,559,000 after buying an additional 9,887 shares during the last quarter. Hedge funds and other institutional investors own 97.48% of the company’s stock.

SLM Corporation (SLM) traded down $0.30 during trading hours on Friday, hitting $9.84. 3,324,400 shares of the stock were exchanged, compared to its average volume of 3,125,024. The company has a debt-to-equity ratio of 1.35, a quick ratio of 1.33 and a current ratio of 1.33. SLM Corporation has a 12 month low of $9.00 and a 12 month high of $13.20. The company has a market cap of $4,250.00, a price-to-earnings ratio of 14.70 and a beta of 1.30.

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About SLM Corporation

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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