Corinthian Colleges’s Sell Rating Reaffirmed at Compass Point (COCO)
Corinthian Colleges (NASDAQ:COCO)‘s stock had its “sell” rating reiterated by investment analysts at Compass Point in a note issued to investors on Thursday, American Banking News reports. They currently have a $1.00 price target on the stock, down from their previous price target of $1.50. Compass Point’s price objective suggests a potential downside of 23.08% from the company’s current price.
The analysts wrote, “We are maintaining our Sell rating and lowering our price target on COCO shares to $1.00, from $1.50, after the company reported 2Q14 earnings and provided a number of unfavorable regulatory and operational developments, including the likely termination of the company’s existing third party lending agreement and a new Department of Education (ED) investigation. In addition, the company’s 2Q14 and forward new start guidance once again fell short of our low expectations. We continue to expect meaningful liquidity, operational, and regulatory challenges ahead, and simply put, we believe management is running out of options.”
Corinthian Colleges (NASDAQ:COCO) opened at 1.30 on Thursday. Corinthian Colleges has a 52 week low of $1.28 and a 52 week high of $2.97. The stock has a 50-day moving average of $1.64 and a 200-day moving average of $2.00. The company’s market cap is $113.2 million.
Corinthian Colleges (NASDAQ:COCO) last issued its quarterly earnings data on Tuesday, February 4th. The company reported $0.05 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.02 by $0.03. The company had revenue of $369.90 million for the quarter, compared to the consensus estimate of $373.41 million. During the same quarter last year, the company posted $0.05 earnings per share. Corinthian Colleges’s revenue was down 8.9% compared to the same quarter last year. On average, analysts predict that Corinthian Colleges will post $0.02 earnings per share for the current fiscal year.
A number of other firms have also recently commented on COCO. Analysts at Deutsche Bank cut their price target on shares of Corinthian Colleges from $1.75 to $1.00 in a research note to investors on Thursday. Separately, analysts at Zacks upgraded shares of Corinthian Colleges from an “underperform” rating to a “neutral” rating in a research note to investors on Tuesday, January 7th. They now have a $1.70 price target on the stock. Finally, analysts at Thomson Reuters/Verus downgraded shares of Corinthian Colleges from a “hold” rating to a “sell” rating in a research note to investors on Monday, November 25th. Three research analysts have rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. Corinthian Colleges presently has a consensus rating of “Hold” and a consensus price target of $1.68.
Corinthian Colleges, Inc (NASDAQ:COCO) is a post-secondary education companies in the United States.
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