Zacks Reiterates “Neutral” Rating for DeVry (DV)
DeVry (NYSE:DV)‘s stock had its “neutral” rating reiterated by Zacks in a research report issued on Thursday, StockRatingsNetwork reports. They currently have a $36.00 price target on the stock. Zacks‘ price objective points to a potential upside of 4.62% from the stock’s previous close.
Zacks‘ analyst wrote, “DeVry turned around from a weak first quarter by beating the Zacks Consensus Estimate for both revenues and earnings in the second quarter of fiscal 2014. However both revenue and earnings declined year over year as strong growth in the healthcare and international businesses was offset by yet another revenue decline at the struggling flagship DeVry University due to enrollment shortfall. However, enrollments improved and costs declined from the first quarter levels. Overall, we believe the company has long-term value. Its diversified portfolio of programs, regular strategic acquisitions and a debt-free balance sheet give it a competitive advantage. The company is also seeing continued strength in its health care and international businesses. The performance improvement plan to align costs, regain enrollment growth and make growth investments look impressive. We, however, prefer to remain Neutral on the stock until we see sustained enrollment growth at DeVry University not expected at-least in 2014. The continued challenged regulatory environment remains a persistent overhang.”
DeVry (NYSE:DV) traded up 2.59% during mid-day trading on Thursday, hitting $35.30. The stock had a trading volume of 581,113 shares. DeVry has a one year low of $26.70 and a one year high of $40.22. The stock has a 50-day moving average of $36.66 and a 200-day moving average of $33.5. The company has a market cap of $2.233 billion and a price-to-earnings ratio of 32.68.
DeVry (NYSE:DV) last issued its quarterly earnings data on Tuesday, February 4th. The company reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.01. The company had revenue of $491.30 million for the quarter, compared to the consensus estimate of $478.75 million. During the same quarter in the prior year, the company posted $0.87 earnings per share. The company’s quarterly revenue was down 1.9% on a year-over-year basis. Analysts expect that DeVry will post $2.32 EPS for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at Bank of America Corp. reiterated a “neutral” rating on shares of DeVry in a research note to investors on Wednesday. They now have a $40.00 price target on the stock, down previously from $42.00. Separately, analysts at Thomson Reuters/Verus upgraded shares of DeVry from a “sell” rating to a “hold” rating in a research note to investors on Monday. Finally, analysts at Barclays raised their price target on shares of DeVry from $28.00 to $40.00 in a research note to investors on Wednesday, January 29th. They now have an “equal weight” rating on the stock. Thirteen equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $34.20.
DeVry Inc (NYSE:DV) is a provider of educational services and the parent organization of Advanced Academics, American University of the Caribbean School of Medicine, Becker Professional Education, Carrington College and Carrington College California, Chamberlain College of Nursing, DeVry Brasil, DeVry University, Ross University School of Medicine and Ross University School of Veterinary Medicine.
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