Zacks: Career Education Corp. (CECO) Given $13.50 Average Target Price by Brokerages
Shares of Career Education Corp. (NASDAQ:CECO) have been assigned a consensus broker rating score of 3.00 (Hold) from the one brokers that provide coverage for the company, Zacks Investment Research reports. One analyst has rated the stock with a hold rating.
Brokerages have set a twelve-month consensus price objective of $13.50 for the company and are predicting that the company will post $0.05 earnings per share for the current quarter, according to Zacks. Zacks has also given Career Education an industry rank of 111 out of 265 based on the ratings given to related companies.
Separately, BidaskClub lowered Career Education from a “buy” rating to a “hold” rating in a research report on Wednesday, December 6th.
Career Education (NASDAQ:CECO) last announced its quarterly earnings data on Thursday, November 2nd. The company reported $0.05 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.01) by $0.06. The firm had revenue of $145.00 million for the quarter, compared to analyst estimates of $149.10 million. Career Education had a positive return on equity of 4.99% and a negative net margin of 3.35%. The business’s quarterly revenue was down 13.5% compared to the same quarter last year. During the same period last year, the company earned $0.21 EPS. equities analysts predict that Career Education will post 0.25 earnings per share for the current year.
In other news, SVP Andrew Hurst sold 3,889 shares of the firm’s stock in a transaction on Friday, November 17th. The stock was sold at an average price of $12.81, for a total value of $49,818.09. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, SVP John Robert Kline sold 2,700 shares of the firm’s stock in a transaction on Tuesday, November 7th. The stock was sold at an average price of $12.12, for a total value of $32,724.00. Following the completion of the transaction, the senior vice president now owns 96,718 shares in the company, valued at $1,172,222.16. The disclosure for this sale can be found here. 5.01% of the stock is owned by company insiders.
Several large investors have recently bought and sold shares of the company. PNC Financial Services Group Inc. boosted its position in shares of Career Education by 1.6% in the 2nd quarter. PNC Financial Services Group Inc. now owns 10,520 shares of the company’s stock worth $101,000 after purchasing an additional 162 shares during the last quarter. Northern Trust Corp boosted its position in shares of Career Education by 0.3% in the 2nd quarter. Northern Trust Corp now owns 782,340 shares of the company’s stock worth $7,510,000 after purchasing an additional 2,103 shares during the last quarter. The Manufacturers Life Insurance Company boosted its position in shares of Career Education by 4.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 54,795 shares of the company’s stock worth $526,000 after purchasing an additional 2,266 shares during the last quarter. Teachers Advisors LLC raised its stake in Career Education by 1.3% during the 2nd quarter. Teachers Advisors LLC now owns 209,952 shares of the company’s stock worth $2,016,000 after buying an additional 2,795 shares during the period. Finally, Ameriprise Financial Inc. raised its stake in Career Education by 0.8% during the 2nd quarter. Ameriprise Financial Inc. now owns 338,850 shares of the company’s stock worth $3,253,000 after buying an additional 2,845 shares during the period. Institutional investors and hedge funds own 76.41% of the company’s stock.
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Career Education Company Profile
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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