Career Education Corporation (CECO) Issues Quarterly Earnings Results
Career Education Corporation (NASDAQ:CECO) issued its earnings results on Thursday. The company reported $0.05 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.01) by $0.06, Briefing.com reports. The firm had revenue of $145.00 million for the quarter, compared to analyst estimates of $149.10 million. Career Education Corporation had a positive return on equity of 3.73% and a negative net margin of 3.82%. The firm’s revenue for the quarter was down 13.5% on a year-over-year basis. During the same period last year, the company earned $0.21 earnings per share.
CECO has been the topic of a number of research analyst reports. BidaskClub raised Career Education Corporation from a “strong sell” rating to a “sell” rating in a report on Thursday, August 24th. Piper Jaffray Companies reissued a “hold” rating and set a $13.00 price target on shares of Career Education Corporation in a report on Friday, July 21st.
In other news, Director Gregory L. Jackson bought 10,000 shares of the company’s stock in a transaction dated Monday, August 14th. The stock was bought at an average price of $8.78 per share, for a total transaction of $87,800.00. Following the completion of the transaction, the director now directly owns 30,866 shares in the company, valued at approximately $271,003.48. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 5.01% of the company’s stock.
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About Career Education Corporation
Career Education Corporation, through its colleges, institutions and universities, offers education to students in a range of career-oriented disciplines through online, on-ground and hybrid learning programs. The Company’s American InterContinental University (AIU) and Colorado Technical University (CTU) provide degree programs through the master’s or doctoral level as well as associate and bachelor’s levels.
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