Career Education Co. (NASDAQ:CECO)’s share price hit a new 52-week high and low during mid-day trading on Thursday . The company traded as low as $14.84 and last traded at $14.79, with a volume of 20689 shares. The stock had previously closed at $14.42.
A number of brokerages recently issued reports on CECO. ValuEngine raised Career Education from a “buy” rating to a “strong-buy” rating in a report on Tuesday. Zacks Investment Research raised Career Education from a “hold” rating to a “buy” rating and set a $16.00 price objective for the company in a report on Wednesday, May 16th. Sidoti began coverage on Career Education in a report on Wednesday, April 18th. They issued a “buy” rating and a $21.00 price objective for the company. Finally, BidaskClub lowered Career Education from a “hold” rating to a “sell” rating in a report on Friday, April 13th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $16.67.
The firm has a market capitalization of $1.00 billion, a PE ratio of 47.65 and a beta of 2.77.
Career Education (NASDAQ:CECO) last issued its quarterly earnings data on Wednesday, May 2nd. The company reported $0.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.24 by $0.01. Career Education had a positive return on equity of 10.63% and a negative net margin of 3.36%. The business had revenue of $147.50 million during the quarter, compared to analyst estimates of $146.10 million. During the same period in the prior year, the company posted $0.07 EPS. The business’s revenue for the quarter was down 9.0% compared to the same quarter last year. sell-side analysts anticipate that Career Education Co. will post 0.95 EPS for the current fiscal year.
In other Career Education news, SVP Jeffrey David Ayers sold 39,141 shares of the stock in a transaction on Thursday, March 8th. The stock was sold at an average price of $13.89, for a total transaction of $543,668.49. Following the completion of the transaction, the senior vice president now directly owns 196,472 shares of the company’s stock, valued at approximately $2,728,996.08. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 5.01% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of CECO. Park West Asset Management LLC boosted its stake in Career Education by 392.8% during the 1st quarter. Park West Asset Management LLC now owns 690,751 shares of the company’s stock valued at $9,076,000 after purchasing an additional 550,583 shares in the last quarter. WINTON GROUP Ltd bought a new position in Career Education during the 4th quarter valued at $5,392,000. Cortina Asset Management LLC bought a new position in Career Education during the 4th quarter valued at $3,609,000. Driehaus Capital Management LLC bought a new position in Career Education during the 4th quarter valued at $2,969,000. Finally, BlackRock Inc. boosted its stake in Career Education by 2.1% during the 4th quarter. BlackRock Inc. now owns 8,413,987 shares of the company’s stock valued at $101,642,000 after purchasing an additional 169,974 shares in the last quarter. 78.17% of the stock is owned by hedge funds and other institutional investors.
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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