Shares of Career Education Corp. (NASDAQ:CECO) have been given an average broker rating score of 3.00 (Hold) from the one analysts that cover the company, Zacks Investment Research reports. One analyst has rated the stock with a hold recommendation.
Analysts have set a one year consensus price target of $13.50 for the company and are forecasting that the company will post $0.05 EPS for the current quarter, according to Zacks. Zacks has also assigned Career Education an industry rank of 103 out of 265 based on the ratings given to related companies.
Separately, BidaskClub cut Career Education from a “hold” rating to a “sell” rating in a research report on Friday, December 22nd.
Career Education (NASDAQ:CECO) last announced its quarterly earnings results on Thursday, November 2nd. The company reported $0.05 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.01) by $0.06. The business had revenue of $145.00 million during the quarter, compared to analysts’ expectations of $149.10 million. Career Education had a positive return on equity of 4.99% and a negative net margin of 3.35%. The firm’s quarterly revenue was down 13.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.21 EPS. analysts expect that Career Education will post 0.25 EPS for the current fiscal year.
In other news, SVP Andrew Hurst sold 3,889 shares of the company’s stock in a transaction that occurred on Friday, November 17th. The stock was sold at an average price of $12.81, for a total transaction of $49,818.09. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP John Robert Kline sold 2,700 shares of the company’s stock in a transaction that occurred 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 transaction, the senior vice president now owns 96,718 shares of the company’s stock, valued at $1,172,222.16. The disclosure for this sale can be found here. 5.01% of the stock is owned by insiders.
Several hedge funds have recently modified their holdings of CECO. Cloverdale Capital Management LLC acquired a new position in shares of Career Education during the second quarter worth approximately $7,377,000. Mangrove Partners raised its stake in shares of Career Education by 32.4% in the third quarter. Mangrove Partners now owns 2,526,019 shares of the company’s stock valued at $26,245,000 after purchasing an additional 618,332 shares in the last quarter. Lonestar Capital Management LLC raised its stake in shares of Career Education by 127.4% in the second quarter. Lonestar Capital Management LLC now owns 828,806 shares of the company’s stock valued at $7,957,000 after purchasing an additional 464,290 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Career Education by 4.1% in the second quarter. Vanguard Group Inc. now owns 3,359,052 shares of the company’s stock valued at $32,247,000 after purchasing an additional 132,037 shares in the last quarter. Finally, Janney Montgomery Scott LLC acquired a new position in shares of Career Education in the third quarter valued at $647,000. Institutional investors own 76.41% of the company’s stock.
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About Career Education
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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