Career Education Corporation (NASDAQ:CECO) Issues Quarterly Earnings Results, Beats Estimates By $0.11 EPS
Career Education Corporation (NASDAQ:CECO) issued its quarterly earnings data on Wednesday. The company reported $0.07 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.04) by $0.11, Morningstar.com reports. The business had revenue of $146.20 million during the quarter, compared to the consensus estimate of $147.80 million. Career Education Corporation had a negative net margin of 2.48% and a positive return on equity of 6.03%. The firm’s revenue was down 19.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.17 EPS.
Shares of Career Education Corporation (NASDAQ CECO) traded up 5.482% during trading on Wednesday, reaching $8.755. 238,730 shares of the company’s stock traded hands. Career Education Corporation has a 52-week low of $6.25 and a 52-week high of $12.59. The company’s 50-day moving average is $9.22 and its 200 day moving average is $9.35. The company’s market cap is $604.34 million.
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Several equities analysts recently commented on the stock. Piper Jaffray Companies reissued a “hold” rating and issued a $13.00 price objective on shares of Career Education Corporation in a research note on Friday, July 21st. BidaskClub downgraded shares of Career Education Corporation from a “hold” rating to a “sell” rating in a research note on Saturday, July 8th.
Large investors have recently made changes to their positions in the stock. State Street Corp raised its stake in shares of Career Education Corporation by 7.7% in the fourth quarter. State Street Corp now owns 1,460,311 shares of the company’s stock worth $14,734,000 after buying an additional 103,996 shares during the last quarter. Teachers Advisors LLC raised its stake in shares of Career Education Corporation by 67.6% in the fourth quarter. Teachers Advisors LLC now owns 216,757 shares of the company’s stock worth $2,187,000 after buying an additional 87,454 shares during the last quarter. Louisiana State Employees Retirement System raised its stake in shares of Career Education Corporation by 1.2% in the first quarter. Louisiana State Employees Retirement System now owns 26,200 shares of the company’s stock worth $228,000 after buying an additional 300 shares during the last quarter. James Investment Research Inc. acquired a new stake in shares of Career Education Corporation during the first quarter worth $2,857,000. Finally, Strs Ohio raised its stake in shares of Career Education Corporation by 9.0% in the first quarter. Strs Ohio now owns 83,500 shares of the company’s stock worth $726,000 after buying an additional 6,900 shares during the last quarter. Institutional investors and hedge funds own 74.84% of the company’s stock.
Career Education Corporation 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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