Zacks: Career Education Corp. (CECO) Given Consensus Recommendation of “Buy” by Brokerages
Career Education Corp. (NASDAQ:CECO) has been given a consensus broker rating score of 2.00 (Buy) from the two analysts that provide coverage for the company, Zacks Investment Research reports. One analyst has rated the stock with a hold recommendation and one has given a strong buy recommendation to the company.
Brokerages have set a twelve-month consensus target price of $19.75 for the company and are forecasting that the company will post $0.25 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Career Education an industry rank of 108 out of 257 based on the ratings given to related companies.
CECO has been the subject of a number of recent analyst reports. ValuEngine cut Career Education from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, September 4th. BidaskClub cut Career Education from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 25th. Piper Jaffray Companies reaffirmed a “hold” rating and set a $19.50 target price on shares of Career Education in a research report on Thursday, August 2nd. Finally, Zacks Investment Research cut Career Education from a “hold” rating to a “sell” rating in a research report on Tuesday, November 6th.
Career Education (NASDAQ:CECO) last announced its earnings results on Thursday, November 1st. The company reported $0.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.21 by $0.04. The firm had revenue of $146.00 million during the quarter, compared to analysts’ expectations of $146.50 million. Career Education had a positive return on equity of 16.59% and a negative net margin of 0.57%. The company’s revenue was up .7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.05 earnings per share. On average, equities analysts forecast that Career Education will post 0.9 EPS for the current fiscal year.
In other news, Director Richard D. Wang sold 250,000 shares of the stock in a transaction that occurred on Friday, September 7th. The stock was sold at an average price of $15.21, for a total value of $3,802,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP John Robert Kline sold 4,700 shares of the stock in a transaction that occurred on Friday, September 28th. The shares were sold at an average price of $15.00, for a total value of $70,500.00. The disclosure for this sale can be found here. Insiders sold 366,776 shares of company stock valued at $5,630,270 over the last three months. 5.70% of the stock is owned by company insiders.
Institutional investors and hedge funds have recently bought and sold shares of the company. Quantbot Technologies LP bought a new stake in shares of Career Education in the third quarter valued at approximately $155,000. Amalgamated Bank acquired a new position in shares of Career Education in the second quarter valued at $179,000. Wedge Capital Management L L P NC acquired a new position in shares of Career Education in the second quarter valued at $191,000. Bank of Montreal Can acquired a new position in shares of Career Education in the second quarter valued at $193,000. Finally, Trexquant Investment LP acquired a new position in shares of Career Education in the third quarter valued at $193,000. 82.61% of the stock is owned by institutional investors.
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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