Wall Street brokerages predict that Career Education Corp. (NASDAQ:CECO) will post $144.70 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for Career Education’s earnings. Career Education posted sales of $143.12 million in the same quarter last year, which would indicate a positive year over year growth rate of 1.1%. The company is scheduled to issue its next quarterly earnings report on Wednesday, February 20th.
According to Zacks, analysts expect that Career Education will report full-year sales of $580.50 million for the current financial year, with estimates ranging from $580.49 million to $580.50 million. For the next fiscal year, analysts anticipate that the firm will post sales of $604.25 million, with estimates ranging from $598.00 million to $610.50 million. Zacks’ sales averages are an average based on a survey of analysts that follow Career Education.
Career Education (NASDAQ:CECO) last released its quarterly earnings data on Thursday, November 1st. The company reported $0.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.21 by $0.04. The firm had revenue of $146.00 million for the quarter, compared to analysts’ expectations of $146.50 million. Career Education had a negative net margin of 0.57% and a positive return on equity of 16.59%. The company’s revenue for the quarter was up .7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.05 earnings per share.
CECO has been the topic of several analyst reports. ValuEngine downgraded shares of Career Education from a “buy” rating to a “hold” rating in a research note on Friday, November 2nd. Barrington Research assumed coverage on shares of Career Education in a report on Monday, December 3rd. They set an “outperform” rating and a $18.00 price objective for the company. BidaskClub raised shares of Career Education from a “sell” rating to a “hold” rating in a report on Wednesday, October 24th. Finally, Zacks Investment Research cut shares of Career Education from a “hold” rating to a “sell” rating in a report on Tuesday, November 6th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $17.00.
Shares of CECO traded up $0.26 during trading hours on Tuesday, reaching $12.85. 188,064 shares of the company traded hands, compared to its average volume of 307,923. Career Education has a 12 month low of $11.01 and a 12 month high of $19.07. The firm has a market capitalization of $896.43 million, a price-to-earnings ratio of 41.45, a PEG ratio of 0.94 and a beta of 1.78.
In related news, SVP Andrew Hurst sold 16,531 shares of the firm’s stock in a transaction dated Monday, December 3rd. The shares were sold at an average price of $14.00, for a total value of $231,434.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 5.70% of the company’s stock.
Several large investors have recently added to or reduced their stakes in CECO. Quantbot Technologies LP acquired a new stake in shares of Career Education in the 3rd quarter worth about $155,000. Trexquant Investment LP purchased a new stake in shares of Career Education during the 3rd quarter worth approximately $193,000. First Quadrant L P CA increased its stake in shares of Career Education by 171.1% during the 3rd quarter. First Quadrant L P CA now owns 14,009 shares of the company’s stock worth $209,000 after purchasing an additional 8,841 shares during the last quarter. Wedge Capital Management L L P NC boosted its holdings in Career Education by 33.0% in the 3rd quarter. Wedge Capital Management L L P NC now owns 15,703 shares of the company’s stock worth $234,000 after buying an additional 3,897 shares during the period. Finally, SG Americas Securities LLC boosted its holdings in Career Education by 29.0% in the 2nd quarter. SG Americas Securities LLC now owns 18,841 shares of the company’s stock worth $305,000 after buying an additional 4,241 shares during the period. Institutional investors and hedge funds own 81.50% of the company’s stock.
About Career Education
Career Education Corporation operates colleges, institutions, and universities that provide education to student population in various career-oriented disciplines through online, campus based, and blended learning programs in the United States. The company operates through three segments: Colorado Technical University (CTU), American InterContinental University (AIU), and All Other Campuses.
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