Career Education Corp. (NASDAQ:CECO) – Piper Jaffray Companies cut their Q4 2018 earnings per share estimates for Career Education in a research note issued to investors on Monday, November 5th. Piper Jaffray Companies analyst P. Appert now anticipates that the company will post earnings per share of $0.25 for the quarter, down from their prior forecast of $0.29. Piper Jaffray Companies has a “Hold” rating and a $19.50 price target on the stock. Piper Jaffray Companies also issued estimates for Career Education’s Q3 2019 earnings at $0.28 EPS and FY2019 earnings at $1.09 EPS.
A number of other research firms have also weighed in on CECO. BidaskClub upgraded Career Education from a “buy” rating to a “strong-buy” rating in a research note on Friday, July 13th. ValuEngine lowered Career Education from a “buy” rating to a “hold” rating in a research note on Friday. Finally, Zacks Investment Research lowered Career Education from a “hold” rating to a “sell” rating in a research note on Monday, August 6th. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company. Career Education presently has a consensus rating of “Hold” and an average target price of $18.83.
CECO stock opened at $13.36 on Tuesday. Career Education has a twelve month low of $11.38 and a twelve month high of $19.07. The firm has a market capitalization of $935.69 million, a price-to-earnings ratio of 43.10, a price-to-earnings-growth ratio of 1.54 and a beta of 1.75.
Career Education (NASDAQ:CECO) last released its earnings results on Thursday, November 1st. The company reported $0.25 earnings per share for the quarter, topping analysts’ consensus estimates of $0.21 by $0.04. Career Education had a positive return on equity of 16.59% and a negative net margin of 0.57%. The business had revenue of $146.00 million for the quarter, compared to analyst estimates of $146.50 million. During the same quarter last year, the firm posted $0.05 earnings per share. The business’s revenue was up .7% compared to the same quarter last year.
In other news, Director Gregory L. Jackson sold 21,828 shares of the firm’s stock in a transaction on Wednesday, August 22nd. The stock was sold at an average price of $16.46, for a total transaction of $359,288.88. Following the transaction, the director now owns 62,291 shares in the company, valued at $1,025,309.86. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Michele A. Peppers sold 5,001 shares of the firm’s stock in a transaction on Thursday, August 30th. The shares were sold at an average price of $15.97, for a total value of $79,865.97. Following the transaction, the insider now owns 54,608 shares in the company, valued at approximately $872,089.76. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 366,776 shares of company stock worth $5,630,270. Insiders own 5.70% of the company’s stock.
Several institutional investors have recently made changes to their positions in the company. Lisanti Capital Growth LLC purchased a new position in shares of Career Education during the third quarter valued at $881,000. WINTON GROUP Ltd increased its stake in shares of Career Education by 19.9% during the third quarter. WINTON GROUP Ltd now owns 80,604 shares of the company’s stock valued at $1,203,000 after buying an additional 13,387 shares during the period. Wedge Capital Management L L P NC increased its stake in shares of Career Education by 33.0% during the third quarter. Wedge Capital Management L L P NC now owns 15,703 shares of the company’s stock valued at $234,000 after buying an additional 3,897 shares during the period. Frontier Capital Management Co. LLC increased its stake in shares of Career Education by 4.3% during the third quarter. Frontier Capital Management Co. LLC now owns 6,957,548 shares of the company’s stock valued at $103,876,000 after buying an additional 289,554 shares during the period. Finally, Arizona State Retirement System increased its stake in shares of Career Education by 5.0% during the third quarter. Arizona State Retirement System now owns 101,143 shares of the company’s stock valued at $1,510,000 after buying an additional 4,837 shares during the period. Hedge funds and other institutional investors own 82.55% 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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