Adtalem Global Education Inc (NYSE:ATGE) – Equities research analysts at Piper Jaffray Companies dropped their Q3 2019 earnings per share (EPS) estimates for shares of Adtalem Global Education in a research note issued on Friday, February 8th. Piper Jaffray Companies analyst P. Appert now anticipates that the company will post earnings per share of $0.64 for the quarter, down from their previous estimate of $0.65. Piper Jaffray Companies currently has a “Overweight” rating and a $63.00 price objective on the stock. Piper Jaffray Companies also issued estimates for Adtalem Global Education’s Q4 2019 earnings at $1.05 EPS, FY2019 earnings at $2.87 EPS, Q2 2020 earnings at $0.86 EPS, Q3 2020 earnings at $0.72 EPS, Q4 2020 earnings at $1.17 EPS and FY2022 earnings at $4.24 EPS.
Adtalem Global Education (NYSE:ATGE) last posted its quarterly earnings results on Thursday, February 7th. The company reported $0.74 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.74. The company had revenue of $316.60 million for the quarter, compared to analyst estimates of $318.95 million. Adtalem Global Education had a return on equity of 11.41% and a net margin of 8.70%. Adtalem Global Education’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.76 EPS.
A number of other equities research analysts have also issued reports on ATGE. Zacks Investment Research raised Adtalem Global Education from a “strong sell” rating to a “hold” rating in a research report on Wednesday, October 17th. Robert W. Baird raised their target price on Adtalem Global Education from $52.00 to $54.00 and gave the stock a “neutral” rating in a research report on Friday, November 2nd. BMO Capital Markets raised their target price on Adtalem Global Education from $52.00 to $58.00 and gave the stock an “outperform” rating in a research report on Monday, November 5th. Finally, Barrington Research reissued a “buy” rating and set a $62.00 target price on shares of Adtalem Global Education in a research report on Wednesday, January 9th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Adtalem Global Education presently has a consensus rating of “Buy” and an average price target of $58.60.
ATGE stock opened at $47.77 on Monday. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 0.20. The stock has a market capitalization of $2.76 billion, a price-to-earnings ratio of 17.18, a P/E/G ratio of 1.26 and a beta of 0.94. Adtalem Global Education has a 1 year low of $43.50 and a 1 year high of $58.80.
In other news, insider Donna Jennings sold 6,950 shares of the firm’s stock in a transaction dated Friday, November 30th. The stock was sold at an average price of $57.83, for a total transaction of $401,918.50. Following the sale, the insider now owns 19,080 shares of the company’s stock, valued at approximately $1,103,396.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.91% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Wedge Capital Management L L P NC increased its position in Adtalem Global Education by 52.9% during the third quarter. Wedge Capital Management L L P NC now owns 2,695,797 shares of the company’s stock worth $129,937,000 after buying an additional 932,920 shares during the period. Bank of New York Mellon Corp increased its position in Adtalem Global Education by 69.6% during the third quarter. Bank of New York Mellon Corp now owns 2,173,252 shares of the company’s stock worth $104,751,000 after buying an additional 892,206 shares during the period. Vaughan Nelson Investment Management L.P. acquired a new position in Adtalem Global Education during the third quarter worth approximately $32,687,000. William Blair Investment Management LLC increased its position in Adtalem Global Education by 7.4% during the third quarter. William Blair Investment Management LLC now owns 4,880,594 shares of the company’s stock worth $235,245,000 after buying an additional 338,066 shares during the period. Finally, FMR LLC increased its position in Adtalem Global Education by 43.5% during the third quarter. FMR LLC now owns 979,947 shares of the company’s stock worth $47,233,000 after buying an additional 297,126 shares during the period. 99.65% of the stock is currently owned by institutional investors and hedge funds.
About Adtalem Global Education
Adtalem Global Education Inc provides educational services worldwide. It operates through three segments: Medical and Healthcare, Professional Education, and Technology and Business. The Medical and Healthcare segment operates Chamberlain University, which provides a pre-licensure bachelor's degree in nursing at 21 campus locations and post-licensure bachelor's, master's, and doctorate degree programs in nursing through its online platform; and operates medical and veterinary schools, including American University of the Caribbean School of Medicine, Ross University School of Medicine, and Ross University School of Veterinary Medicine.
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