Shares of Career Education Corp. (NASDAQ:CECO) have earned a consensus rating of “Hold” from the six ratings firms that are presently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and three have issued a buy recommendation on the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $25.00.
Several research analysts recently commented on the company. TheStreet cut Career Education from a “b” rating to a “c+” rating in a research report on Thursday, August 8th. BidaskClub cut Career Education from a “hold” rating to a “sell” rating in a research report on Friday, June 21st. Zacks Investment Research cut Career Education from a “buy” rating to a “hold” rating in a research report on Tuesday, July 30th. Barrington Research reaffirmed an “outperform” rating and issued a $26.00 target price (up from $24.00) on shares of Career Education in a research report on Thursday, August 8th. Finally, Sidoti set a $24.00 price objective on Career Education and gave the company a “buy” rating in a report on Friday, June 7th.
In other Career Education news, SVP David C. Czeszewski sold 15,278 shares of Career Education stock in a transaction on Monday, August 12th. The stock was sold at an average price of $21.31, for a total transaction of $325,574.18. Following the completion of the transaction, the senior vice president now directly owns 128,409 shares of the company’s stock, valued at $2,736,395.79. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP John Robert Kline sold 4,789 shares of Career Education 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 transaction, the senior vice president now directly owns 170,999 shares of the company’s stock, valued at $3,356,710.37. The disclosure for this sale can be found here. 5.58% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently modified their holdings of the business. Geode Capital Management LLC raised its holdings in shares of Career Education by 10.9% in the 4th quarter. Geode Capital Management LLC now owns 803,253 shares of the company’s stock valued at $9,173,000 after purchasing an additional 79,206 shares in the last quarter. Bank of America Corp DE raised its holdings in shares of Career Education by 411.9% in the 4th quarter. Bank of America Corp DE now owns 75,229 shares of the company’s stock valued at $859,000 after purchasing an additional 60,532 shares in the last quarter. Metropolitan Life Insurance Co. NY raised its holdings in shares of Career Education by 323.8% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 20,624 shares of the company’s stock valued at $236,000 after purchasing an additional 15,758 shares in the last quarter. Municipal Employees Retirement System of Michigan acquired a new stake in shares of Career Education in the 4th quarter valued at $230,000. Finally, Thrivent Financial for Lutherans raised its holdings in shares of Career Education by 6.1% in the 4th quarter. Thrivent Financial for Lutherans now owns 49,206 shares of the company’s stock valued at $562,000 after purchasing an additional 2,843 shares in the last quarter. 83.90% of the stock is owned by institutional investors.
CECO stock traded up $0.29 during midday trading on Friday, hitting $21.70. The stock had a trading volume of 12,962 shares, compared to its average volume of 482,761. The firm has a market capitalization of $1.49 billion, a price-to-earnings ratio of 20.72, a price-to-earnings-growth ratio of 1.16 and a beta of 1.56. Career Education has a 52 week low of $11.01 and a 52 week high of $22.26. The stock’s 50-day simple moving average is $19.63. The company has a quick ratio of 2.49, a current ratio of 2.50 and a debt-to-equity ratio of 0.11.
Career Education (NASDAQ:CECO) last issued its earnings results on Wednesday, August 7th. The company reported $0.39 EPS for the quarter, topping the consensus estimate of $0.29 by $0.10. The firm had revenue of $156.44 million during the quarter, compared to analysts’ expectations of $148.10 million. Career Education had a return on equity of 25.42% and a net margin of 8.78%. Career Education’s quarterly revenue was up 10.1% compared to the same quarter last year. During the same period last year, the business earned $0.23 earnings per share. Equities analysts forecast that Career Education will post 1.22 earnings per share for the current fiscal year.
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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