Career Education Corp. (CECO) Sees Strong Trading Volume
Shares of Career Education Corp. (NASDAQ:CECO) saw strong trading volume on Friday . 713,875 shares were traded during mid-day trading, an increase of 76% from the previous session’s volume of 404,576 shares.The stock last traded at $7.01 and had previously closed at $7.12.
Separately, Piper Jaffray Cos. reaffirmed a “neutral” rating and issued a $11.00 price target (up previously from $6.00) on shares of Career Education Corp. in a research report on Friday, August 5th.
The firm has a market cap of $479.89 million and a price-to-earnings ratio of 4.27. The firm’s 50-day moving average is $6.61 and its 200 day moving average is $5.06.
Career Education Corp. (NASDAQ:CECO) last released its quarterly earnings data on Wednesday, August 3rd. The company reported $0.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.31. The firm earned $182.63 million during the quarter, compared to analysts’ expectations of $176.04 million. During the same quarter in the previous year, the firm posted ($0.31) EPS. Career Education Corp.’s revenue was down 15.8% compared to the same quarter last year. Equities analysts expect that Career Education Corp. will post ($0.60) earnings per share for the current year.
A hedge fund recently raised its stake in Career Education Corp. stock. Dimensional Fund Advisors LP increased its stake in shares of Career Education Corp. (NASDAQ:CECO) by 11.7% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,828,772 shares of the company’s stock after buying an additional 297,318 shares during the period. Dimensional Fund Advisors LP owned about 4.16% of Career Education Corp. worth $10,269,000 as of its most recent SEC filing.
Career Education Corporation, through its colleges, institutions and universities, offers education to students in a range of career-oriented disciplines through online, on-ground and hybrid learning programs. The Company’s American InterContinental University (AIU) and Colorado Technical University (CTU) provide degree programs through the master’s or doctoral level as well as associate and bachelor’s levels.
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