ITT Educational Services Rating Reiterated by Merrill Lynch (ESI)
ITT Educational Services (NYSE:ESI)‘s stock had its “neutral” rating restated by equities researchers at Merrill Lynch in a research report issued on Wednesday, American Banking & Market News reports.
ESI has been the subject of a number of other recent research reports. Analysts at Wells Fargo & Co. upgraded shares of ITT Educational Services from a “market perform” rating to an “outperform” rating in a research note to investors on Tuesday. Separately, analysts at Barclays raised their price target on shares of ITT Educational Services from $33.00 to $35.00 in a research note to investors on Monday, October 7th. They now have an “equal weight” rating on the stock. Finally, analysts at TheStreet upgraded shares of ITT Educational Services from a “sell” rating to a “hold” rating in a research note to investors on Wednesday, August 28th. Four research analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $23.73.
In other ITT Educational Services news, major shareholder Blum Capital Partners Lp sold 237,254 shares of the stock on the open market in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $31.59, for a total value of $7,494,853.86. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Major shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.
Shares of ITT Educational Services (NYSE:ESI) traded up 0.22% during mid-day trading on Wednesday, hitting $32.01. 392,751 shares of the company’s stock traded hands. ITT Educational Services has a 1-year low of $11.69 and a 1-year high of $33.29. The stock has a 50-day moving average of $29.8 and a 200-day moving average of $24.90. The company has a market cap of $748.0 million and a price-to-earnings ratio of 8.80.
ITT Educational Services (NYSE:ESI) last announced its earnings results on Thursday, July 25th. The company reported $0.89 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.90 by $0.01. The company had revenue of $259.90 million for the quarter, compared to the consensus estimate of $272.40 million. During the same quarter last year, the company posted $1.96 earnings per share. ITT Educational Services’s revenue was down 21.2% compared to the same quarter last year. Analysts expect that ITT Educational Services will post $3.86 EPS for the current fiscal year.
ITT Educational Services, Inc (NYSE:ESI) is a provider of postsecondary degree programs in the United States.
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