Corinthian Colleges Lowered to Underperform at Zacks (COCO)
Corinthian Colleges (NASDAQ:COCO) was downgraded by Zacks from a “neutral” rating to an “underperform” rating in a report issued on Tuesday. They currently have a $0.20 price target on the stock. Zacks‘s price objective would indicate a potential downside of 6.24% from the stock’s previous close.
Shares of Corinthian Colleges (NASDAQ:COCO) traded down 5.20% during mid-day trading on Tuesday, hitting $0.2133. The stock had a trading volume of 4,371,865 shares. Corinthian Colleges has a 52-week low of $0.21 and a 52-week high of $2.75. The stock has a 50-day moving average of $0.65 and a 200-day moving average of $1.23. The company’s market cap is $18.7 million.
Corinthian Colleges (NASDAQ:COCO) last released its earnings data on Tuesday, May 6th. The company reported $0.03 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.05 by $0.02. The company had revenue of $349.80 million for the quarter, compared to the consensus estimate of $355.13 million. During the same quarter last year, the company posted $0.04 earnings per share. Corinthian Colleges’s revenue was down 11.6% compared to the same quarter last year. On average, analysts predict that Corinthian Colleges will post $0.10 earnings per share for the current fiscal year.
A number of other firms have also recently commented on COCO. Analysts at Gabelli downgraded shares of Corinthian Colleges from a “hold” rating to a “sell” rating in a research note on Friday, June 20th. Separately, analysts at Compass Point reiterated a “sell” rating on shares of Corinthian Colleges in a research note on Thursday, June 19th. Finally, analysts at Deutsche Bank cut their price target on shares of Corinthian Colleges from $1.00 to $0.75 in a research note on Wednesday, May 7th. They now have a “hold” rating on the stock. Three investment analysts have rated the stock with a sell rating and two have given a hold rating to the stock. The company currently has an average rating of “Sell” and a consensus price target of $1.32.
Corinthian Colleges, Inc is a post-secondary education company in the United States and Canada. As of June 30, 2013, the Company had a student enrollment of 81,284 and operated 97 schools in 25 states, and 14 schools in the province of Ontario, Canada.
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