Career Education Corp. (NASDAQ:CECO) – Piper Jaffray Companies raised their Q1 2019 earnings estimates for shares of Career Education in a research note issued on Friday, April 12th. Piper Jaffray Companies analyst P. Appert now expects that the company will post earnings of $0.33 per share for the quarter, up from their previous forecast of $0.32. Piper Jaffray Companies also issued estimates for Career Education’s Q3 2019 earnings at $0.31 EPS, Q1 2020 earnings at $0.35 EPS, Q3 2020 earnings at $0.33 EPS, FY2020 earnings at $1.25 EPS and FY2021 earnings at $1.37 EPS.
Career Education (NASDAQ:CECO) last posted its earnings results on Wednesday, February 20th. The company reported $0.30 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.25 by $0.05. The firm had revenue of $145.50 million for the quarter, compared to analyst estimates of $144.63 million. Career Education had a return on equity of 19.78% and a net margin of 9.49%. The company’s revenue for the quarter was up 1.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.19 earnings per share.
Several other research analysts have also weighed in on the company. Barrington Research reiterated an “outperform” rating and set a $22.00 target price (up from $18.00) on shares of Career Education in a report on Friday. BidaskClub raised Career Education from a “hold” rating to a “buy” rating in a research note on Thursday, April 11th. Zacks Investment Research raised Career Education from a “hold” rating to a “buy” rating and set a $18.00 price target on the stock in a research note on Friday, February 22nd. Finally, ValuEngine raised Career Education from a “hold” rating to a “buy” rating in a research note on Friday, February 22nd. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $20.13.
CECO stock opened at $17.66 on Monday. The stock has a market cap of $1.24 billion, a price-to-earnings ratio of 16.82, a price-to-earnings-growth ratio of 1.26 and a beta of 1.67. Career Education has a 1-year low of $11.01 and a 1-year high of $19.07.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Deutsche Bank AG raised its stake in shares of Career Education by 44.3% in the 4th quarter. Deutsche Bank AG now owns 301,083 shares of the company’s stock valued at $3,435,000 after purchasing an additional 92,482 shares during the period. American Century Companies Inc. acquired a new stake in shares of Career Education in the fourth quarter valued at about $411,000. Geode Capital Management LLC increased its position in shares of Career Education by 10.9% in the fourth quarter. Geode Capital Management LLC now owns 803,253 shares of the company’s stock valued at $9,173,000 after acquiring an additional 79,206 shares during the last quarter. FMR LLC increased its position in shares of Career Education by 16.3% in the fourth quarter. FMR LLC now owns 2,752,020 shares of the company’s stock valued at $31,428,000 after acquiring an additional 385,087 shares during the last quarter. Finally, Amalgamated Bank acquired a new stake in shares of Career Education in the fourth quarter valued at about $125,000. 80.96% of the stock is currently owned by hedge funds and other institutional investors.
In other Career Education news, SVP John Robert Kline sold 4,700 shares of Career Education stock in a transaction dated Thursday, February 21st. The stock was sold at an average price of $15.20, for a total value of $71,440.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Jeffrey David Ayers sold 10,903 shares of Career Education stock in a transaction dated Thursday, January 24th. The shares were sold at an average price of $13.00, for a total value of $141,739.00. The disclosure for this sale can be found here. Insiders sold a total of 26,521 shares of company stock worth $352,820 in the last three months. Company insiders own 5.58% of the company’s stock.
Career Education Company Profile
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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