Career Education Corp. (NASDAQ:CECO) has received an average broker rating score of 3.00 (Hold) from the one analysts that cover the company, Zacks Investment Research reports. One investment analyst has rated the stock with a hold recommendation.
Brokers have set a 1-year consensus price objective of $11.00 for the company and are predicting that the company will post ($0.09) earnings per share for the current quarter, according to Zacks. Zacks has also assigned Career Education Corp. an industry rank of 159 out of 265 based on the ratings given to related companies.
Separately, Piper Jaffray Cos. reiterated a “neutral” rating and issued a $11.00 price objective (up from $6.00) on shares of Career Education Corp. in a report on Friday, August 5th.
Shares of Career Education Corp. (NASDAQ:CECO) traded up 1.78% during midday trading on Friday, hitting $6.85. The stock had a trading volume of 203,947 shares. Career Education Corp. has a 12 month low of $2.23 and a 12 month high of $7.53. The stock’s 50 day moving average price is $6.84 and its 200 day moving average price is $5.96. The firm has a market cap of $468.94 million, a price-to-earnings ratio of 4.17 and a beta of 2.66.
Career Education Corp. (NASDAQ:CECO) last issued its quarterly earnings results on Wednesday, August 3rd. The company reported $0.17 earnings per share for the quarter, beating the consensus estimate of ($0.14) by $0.31. Career Education Corp. had a return on equity of 47.71% and a net margin of 15.11%. The firm earned $182.63 million during the quarter, compared to the consensus estimate of $176.04 million. During the same period last year, the company earned ($0.31) earnings per share. The company’s revenue was down 15.8% on a year-over-year basis. On average, equities analysts forecast that Career Education Corp. will post $0.03 EPS for the current fiscal year.
A number of hedge funds and other institutional investors have recently made changes to their positions in CECO. BlackRock Fund Advisors boosted its position in shares of Career Education Corp. by 3.5% in the second quarter. BlackRock Fund Advisors now owns 4,559,006 shares of the company’s stock valued at $27,126,000 after buying an additional 155,356 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Career Education Corp. by 14.2% in the second quarter. Dimensional Fund Advisors LP now owns 3,440,682 shares of the company’s stock valued at $20,471,000 after buying an additional 427,034 shares during the last quarter. Renaissance Technologies LLC boosted its position in shares of Career Education Corp. by 26.3% in the first quarter. Renaissance Technologies LLC now owns 3,181,462 shares of the company’s stock valued at $14,444,000 after buying an additional 662,604 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Career Education Corp. by 4.7% in the second quarter. Vanguard Group Inc. now owns 2,949,029 shares of the company’s stock valued at $17,546,000 after buying an additional 132,298 shares during the last quarter. Finally, State Street Corp boosted its position in shares of Career Education Corp. by 0.5% in the second quarter. State Street Corp now owns 1,338,229 shares of the company’s stock valued at $7,961,000 after buying an additional 6,566 shares during the last quarter. 69.23% of the stock is currently owned by institutional investors and hedge funds.
About Career Education Corp.
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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