Zacks: Brokerages Expect Career Education Corporation (CECO) Will Announce Earnings of $0.03 Per Share

Wall Street analysts expect Career Education Corporation (NASDAQ:CECO) to post $0.03 earnings per share for the current fiscal quarter, according to Zacks Investment Research. Zero analysts have provided estimates for Career Education Corporation’s earnings. Career Education Corporation reported earnings of $0.04 per share during the same quarter last year, which would suggest a negative year over year growth rate of 25%. The business is scheduled to issue its next earnings results on Thursday, February 22nd.

On average, analysts expect that Career Education Corporation will report full year earnings of $0.18 per share for the current financial year. For the next financial year, analysts forecast that the firm will report earnings of $0.62 per share. Zacks’ earnings per share calculations are an average based on a survey of sell-side analysts that follow Career Education Corporation.

Career Education Corporation (NASDAQ:CECO) last announced its earnings results on Thursday, November 2nd. The company reported $0.05 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.01) by $0.06. Career Education Corporation had a positive return on equity of 4.99% and a negative net margin of 3.35%. The business had revenue of $145.00 million during the quarter, compared to analysts’ expectations of $149.10 million. During the same quarter last year, the business posted $0.21 earnings per share. The company’s quarterly revenue was down 13.5% on a year-over-year basis.

A number of research firms recently weighed in on CECO. BidaskClub lowered Career Education Corporation from a “sell” rating to a “strong sell” rating in a research report on Tuesday, August 1st. Piper Jaffray Companies reiterated a “hold” rating and issued a $13.00 price target on shares of Career Education Corporation in a research report on Friday, July 21st.

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In related news, SVP John Robert Kline sold 2,700 shares of the stock in a transaction 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 completion of the transaction, the senior vice president now owns 96,718 shares in the company, valued at approximately $1,172,222.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 5.01% of the company’s stock.

Institutional investors have recently made changes to their positions in the stock. Bayesian Capital Management LP purchased a new stake in Career Education Corporation in the 2nd quarter worth about $100,000. PNC Financial Services Group Inc. lifted its stake in Career Education Corporation by 1.6% in the 2nd quarter. PNC Financial Services Group Inc. now owns 10,520 shares of the company’s stock worth $101,000 after acquiring an additional 162 shares in the last quarter. Cambria Investment Management L.P. purchased a new stake in Career Education Corporation in the 3rd quarter worth about $113,000. State of Alaska Department of Revenue lifted its stake in Career Education Corporation by 80.2% in the 2nd quarter. State of Alaska Department of Revenue now owns 12,813 shares of the company’s stock worth $123,000 after acquiring an additional 5,703 shares in the last quarter. Finally, Cubist Systematic Strategies LLC purchased a new stake in Career Education Corporation in the 3rd quarter worth about $126,000. 75.16% of the stock is owned by hedge funds and other institutional investors.

Shares of Career Education Corporation (CECO) traded down $0.27 during mid-day trading on Friday, reaching $12.64. The company had a trading volume of 240,040 shares, compared to its average volume of 256,927. Career Education Corporation has a fifty-two week low of $7.62 and a fifty-two week high of $13.23. The company has a market capitalization of $873.34, a PE ratio of 54.79 and a beta of 2.66.

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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