Brokerages Anticipate Career Education Corporation (CECO) to Post -$0.01 EPS
Brokerages expect Career Education Corporation (NASDAQ:CECO) to post earnings per share of ($0.01) for the current quarter, Zacks Investment Research reports. Zero analysts have made estimates for Career Education Corporation’s earnings. Career Education Corporation also posted earnings per share of ($0.01) during the same quarter last year. The company is scheduled to report its next earnings report on Thursday, November 2nd.
On average, analysts expect that Career Education Corporation will report full-year earnings of $0.07 per share for the current financial year. For the next fiscal year, analysts anticipate that the business will report earnings of $0.60 per share. Zacks Investment Research’s earnings per share calculations are an average based on a survey of research firms that that provide coverage for Career Education Corporation.
Career Education Corporation (NASDAQ:CECO) last issued its quarterly earnings results on Wednesday, August 9th. The company reported $0.07 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.04) by $0.11. The business had revenue of $146.20 million for the quarter, compared to the consensus estimate of $147.80 million. Career Education Corporation had a positive return on equity of 3.73% and a negative net margin of 3.82%. The firm’s quarterly revenue was down 19.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.17 earnings per share.
A number of equities research analysts have issued reports on CECO shares. BidaskClub cut shares of Career Education Corporation from a “sell” rating to a “strong sell” rating in a report on Tuesday, August 1st. Piper Jaffray Companies reissued a “hold” rating and set a $13.00 target price on shares of Career Education Corporation in a report on Friday, July 21st.
Shares of Career Education Corporation (NASDAQ CECO) traded down 3.40% during midday trading on Tuesday, reaching $8.53. The company had a trading volume of 107,575 shares. The company has a 50 day moving average price of $9.04 and a 200-day moving average price of $9.28. Career Education Corporation has a one year low of $6.25 and a one year high of $12.59. The firm’s market capitalization is $589.22 million.
A number of hedge funds and other institutional investors have recently made changes to their positions in CECO. Cloverdale Capital Management LLC bought a new position in shares of Career Education Corporation during the second quarter valued at about $7,377,000. Lonestar Capital Management LLC raised its position in shares of Career Education Corporation 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 buying an additional 464,290 shares during the period. Renaissance Technologies LLC raised its position in shares of Career Education Corporation by 10.6% in the first quarter. Renaissance Technologies LLC now owns 4,727,962 shares of the company’s stock valued at $41,133,000 after buying an additional 453,500 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Career Education Corporation by 9.8% in the first quarter. Dimensional Fund Advisors LP now owns 4,633,871 shares of the company’s stock valued at $40,315,000 after buying an additional 411,878 shares during the period. Finally, James Investment Research Inc. bought a new position in shares of Career Education Corporation during the first quarter valued at about $2,857,000. Institutional investors own 74.70% of the company’s stock.
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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