Career Education (NASDAQ:CECO) issued an update on its third quarter 2019 earnings guidance on Wednesday morning. The company provided EPS guidance of $0.23-0.25 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.22. Career Education also updated its FY 2019 guidance to $1.20-1.24 EPS.
CECO stock traded down $0.37 during trading on Wednesday, reaching $18.37. 284,648 shares of the company were exchanged, compared to its average volume of 453,485. The business’s 50-day moving average is $19.26. The company has a market capitalization of $1.29 billion, a P/E ratio of 17.50, a price-to-earnings-growth ratio of 1.09 and a beta of 1.56. Career Education has a twelve month low of $11.01 and a twelve month high of $20.39. The company has a debt-to-equity ratio of 0.12, a current ratio of 3.05 and a quick ratio of 3.04.
Career Education (NASDAQ:CECO) last announced its quarterly earnings results on Wednesday, May 8th. The company reported $0.36 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.33 by $0.03. Career Education had a net margin of 10.57% and a return on equity of 21.14%. The firm had revenue of $157.85 million during the quarter, compared to analysts’ expectations of $154.07 million. During the same period in the prior year, the company posted $0.28 EPS. The company’s revenue was up 6.6% on a year-over-year basis. As a group, research analysts forecast that Career Education will post 1.14 earnings per share for the current fiscal year.
CECO has been the subject of several recent research reports. Barrington Research restated a buy rating and issued a $24.00 price target on shares of Career Education in a research report on Tuesday, May 14th. BidaskClub cut shares of Career Education from a hold rating to a sell rating in a research report on Friday, June 21st. Zacks Investment Research lowered shares of Career Education from a buy rating to a hold rating in a research note on Tuesday, July 30th. Sidoti set a $24.00 price objective on shares of Career Education and gave the company a buy rating in a research note on Friday, June 7th. Finally, TheStreet raised shares of Career Education from a c+ rating to a b rating in a research note on Wednesday, April 17th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company. Career Education currently has a consensus rating of Hold and a consensus target price of $23.33.
In other news, SVP John Robert Kline sold 4,789 shares of the company’s stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $19.63, for a total value of $94,008.07. Following the sale, the senior vice president now directly owns 170,999 shares of the company’s stock, valued at approximately $3,356,710.37. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate 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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