Zacks Investment Research Lowers Career Education (NASDAQ:CECO) to Hold

Zacks Investment Research cut shares of Career Education (NASDAQ:CECO) from a strong-buy rating to a hold rating in a research note released on Tuesday, Zacks.com reports.

According to Zacks, “Career Education Corporation is an educational services company committed to providing quality, career-focused learning and led by passionate professionals who inspire individual worth and lifelong achievement. The universities of the Career Education family – American InterContinental UniversityR (AIU) and Colorado Technical UniversityR (CTU) – provide degree programs through the master’s or doctoral level as well as associate and bachelor’s levels to a diverse student population pursuing various career-oriented disciplines. They serve students on ground campuses and online with career-focused degree programs that meet the education demands of today’s busy adults. AIU and CTU continue to show innovation in higher education, advancing new personalized learning technologies like their intellipathTM adaptive learning platform, which allow students to more efficiently move toward pursuing a degree by receiving course credit for knowledge they can already demonstrate. “

Several other equities research analysts have also recently weighed in on the company. TheStreet upgraded Social Reality from a d+ rating to a c- rating in a research report on Wednesday, April 17th. Barrington Research set a $5.00 price target on Payment Data Systems and gave the company a buy rating in a research report on Tuesday, May 14th. BidaskClub cut Waterstone Financial from a hold rating to a sell rating in a research report on Friday, June 21st. Finally, Sidoti set a $24.00 price target on Career Education and gave the company a buy rating in a research report on Friday, June 7th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company’s stock. The stock presently has an average rating of Hold and an average price target of $21.38.



Shares of NASDAQ:CECO opened at $19.53 on Tuesday. The business has a 50-day moving average of $19.22. The company has a quick ratio of 3.04, a current ratio of 3.05 and a debt-to-equity ratio of 0.12. The stock has a market cap of $1.36 billion, a P/E ratio of 18.60, a P/E/G ratio of 1.33 and a beta of 1.54. Career Education has a fifty-two week low of $11.01 and a fifty-two week high of $20.39.

Career Education (NASDAQ:CECO) last released its quarterly earnings data on Wednesday, May 8th. The company reported $0.36 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.33 by $0.03. Career Education had a net margin of 10.57% and a return on equity of 21.14%. The business had revenue of $157.85 million for the quarter, compared to the consensus estimate of $154.07 million. During the same period in the prior year, the firm earned $0.28 earnings per share. The company’s revenue was up 6.6% compared to the same quarter last year. As a group, analysts predict that Career Education will post 1.17 EPS for the current year.

Several hedge funds have recently bought and sold shares of the stock. SG Capital Management LLC boosted its stake in Career Education by 37.7% in the first quarter. SG Capital Management LLC now owns 1,447,860 shares of the company’s stock worth $23,919,000 after buying an additional 396,658 shares in the last quarter. FMR LLC boosted its stake in shares of Career Education by 16.3% during the fourth quarter. FMR LLC now owns 2,752,020 shares of the company’s stock valued at $31,428,000 after purchasing an additional 385,087 shares during the period. D. E. Shaw & Co. Inc. boosted its stake in shares of Career Education by 13.1% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 1,432,266 shares of the company’s stock valued at $16,356,000 after purchasing an additional 165,977 shares during the period. Acadian Asset Management LLC purchased a new stake in shares of Career Education during the first quarter valued at approximately $2,019,000. Finally, First Trust Advisors LP purchased a new stake in shares of Career Education during the fourth quarter valued at approximately $1,144,000. Institutional investors own 82.94% of the company’s stock.

About Career Education

Career Education Corporation operates colleges, institutions, and universities that provide education to student population in various career-oriented disciplines through online, campus based, and blended learning programs in the United States. The company operates through three segments: Colorado Technical University (CTU), American InterContinental University (AIU), and All Other Campuses.

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