Post-Earnings Expert Insight - Navient

LONDON, October 22, 2014 /PRNewswire/ --

Investor-Edge.com has issued free post-earnings expert insight on Navient Corp. (NASDAQ: NAVI). On October 15, 2014, the company announced its financial results for Q3 FY14 (period ended September 30, 2014). Click on www.investor-edge.com/FreeReports to read our free earnings review on Navient. During Q3 FY14, Navient Corp.'s diluted EPS increased $0.28 from the preceding year quarter. The company's Q3 FY14 results also indicated ongoing improvements in delinquencies and defaults since last year. Our free coverage report can be accessed at:

www.investor-edge.com/register

Earnings Overview 

During Q3 FY14, Navient Corp. reported GAAP net income of $359 million, or $0.85 per diluted share, compared to $260 million, or $0.57 per diluted share in the same quarter last year. Analysts from Bloomberg had expected the company to report net income of $217 million, or $0.52 per share in Q3 FY14. The company's core earnings for the reported quarter decreased to $218 million, or $0.52 per diluted share, from $259 million, or $0.58 per diluted share in the year-ago quarter. Further, the company's core earnings operating expenses were $195 million in Q3 FY14, compared to $190 million in the prior-year quarter. The free research on NAVI can be downloaded as in PDF format at:

www.Investor-Edge.com/NAVIFreeReport

The company's core earnings for Federally Guaranteed Student Loans (FFELP) segment decreased to $79 million in Q3 FY14, from $91 million last year, primarily due to a reduction in net interest income due to the decrease in FFELP loans outstanding. The company acquired $521 million in FFELP loans in Q3 FY14, for a total of $1.8 billion of FFELP loans acquired YTD. However, core earnings for Private Education Loan segment increased to $98 million, from $75 million in Q3 FY13, which was primarily the result of a $46 million decrease in the provision for private education loan losses. The company acquired $848 million in private education loans during Q3 FY14, for a total of $1.6 billion of private education loans acquired YTD. Additionally, the company's core earnings from Business Services segment were $85 million, compared to $127 million in Q3 FY13. The decrease in core earnings was the result of lower asset recovery revenue, primarily related to a legislative reduction in certain fees earned, as well as a lower balance of FFELP loans serviced.

Jack Remondi, President and CEO of Navient Corp., stated that during the quarter, the company's private credit charge-offs set a new record low since 2008. Mr. Remondi was also proud to share that the company's proactive outreach, data-driven programs, and emphasis on payment plans has helped drive the decline in the national federal student loan cohort default rate. He emphasized that the customers whose loans Navient Corp. services have a default rate 40% lower than the national average. Sign up and read the free analyst's notes on NAVI at:

www.Investor-Edge.com/NAVI-22102014

In May 2014, Navient Corp. authorized $400 million for its common share repurchase program that does not have an expiration date. During Q3 FY14, it repurchased 9.5 million shares of its common stock for $167 million. Remaining repurchase authority at September 30, 2014, was $168 million.

Stock Performance 

On the day following the earnings release, October 16, 2014, Navient Corp.'s stock ended the session at $17.64, up 1.26%, and has been on an uptrend since then. On the last close, Tuesday, October 21, 2014, it finished at $18.79, 0.80% above its previous day's closing price, after vacillating between $18.55 and $18.90 during the session. A total of 3.41 million shares were traded, which was above its three months average volume of 2.06 million shares. Over the previous three trading sessions and last one month, the company's shares have gained 6.52% and 5.21%, respectively. Also, the stock has gone up 5.21% over the past three months. Shares in Navient Corp. are trading above their 50-day moving average of $17.58 and have a Relative Strength Index (RSI) of 71.06. Visit Investor-Edge and access the latest research on NAVI at:

www.Investor-Edge.com/NAVIEarningsCoverage

Sneak Peek to Corporate Insider Trading 

In the last one month Navient Corp. has not reported any share transactions by insiders to the U.S. Securities and Exchange Commission (SEC). Complimentary in-depth research on NAVI is available at:

www.Investor-Edge.com/NAVIInsiderTrading

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