Education Management Corp. (EDMC) Announces Quarterly Earnings Results, Beats Estimates By $0.02 EPS
Education Management Corp. (NASDAQ:EDMC) posted its quarterly earnings results on Thursday. The company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.02, ARN reports. The company had revenue of $593.70 million for the quarter, compared to the consensus estimate of $605.85 million. During the same quarter last year, the company posted $0.25 earnings per share. Education Management Corp.’s revenue was down 9.3% compared to the same quarter last year.
On a related note, analysts at Zacks downgraded shares of Education Management Corp. from an “outperform” rating to a “neutral” rating in a research note to investors on Thursday, November 14th. They now have a $15.50 price target on the stock.
Education Management Corp. (NASDAQ:EDMC) opened at 6.19 on Thursday. Education Management Corp. has a 52 week low of $3.12 and a 52 week high of $16.94. The stock’s 50-day moving average is $9.74 and its 200-day moving average is $9.92. The company’s market cap is $774.2 million.
Education Management Corporation (NASDAQ:EDMC) is a provider of post-secondary education in North America, with approximately 151,200 enrolled students as of October 2011.
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