Nord Anglia Education Inc. (NORD) Price Target Increased to $28.00 by Analysts at Credit Suisse Group AG
Nord Anglia Education Inc. (NYSE:NORD) had its target price upped by equities researchers at Credit Suisse Group AG from $25.00 to $28.00 in a note issued to investors on Wednesday. The firm presently has an “outperform” rating on the stock. Credit Suisse Group AG’s price objective points to a potential upside of 16.67% from the company’s current price.
The analysts wrote, “We expect TNP to fund the ~$290M in remaining CAPEX primarily with debt ($224M has already been secured). Right, but… TNP cut its quarterly dividend to $0.05 (from $0.08), which saves it $10M annually. Not exactly a sign of confidence on the market. The cut comes 2 quarters after TNP increased it to $0.08 from $0.06. With net debt to capital at 45%, and headed higher as newbuilds are delivered, the dividend cut was the safe play in our opinion. Lowering Estimates. We are lowering our 2016 EPS estimate to $0.55 (from $0.69) to account for this quarter’s miss as wells as updated day rate assumptions. We are 10% below consensus ($0.61) and expect it to decline. Earnings. TNP reported Q3 earnings of -$0.02 below consensus of $0.02 (CS $0.05). The miss was driven primarily by lower revenue (avg. TCE down ~19% Q-Q). Net revenue was $82M (Consensus $100M, CS $93M) which was down 14% Q-Q and down 26% Y-Y, mostly due to lower spot rates.””
Other equities analysts also recently issued research reports about the stock. Zacks Investment Research upgraded shares of Nord Anglia Education from a “sell” rating to a “hold” rating in a research note on Wednesday, November 9th. Barclays PLC reiterated an “overweight” rating and set a $22.00 target price on shares of Nord Anglia Education in a research note on Saturday, October 15th. JPMorgan Chase & Co. boosted their target price on shares of Nord Anglia Education from $23.00 to $24.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 9th. Finally, CLSA downgraded shares of Nord Anglia Education from an “outperform” rating to an “underperform” rating in a research note on Wednesday. One research analyst has rated the stock with a sell rating, one has issued a hold rating and six have issued a buy rating to the stock. Nord Anglia Education presently has a consensus rating of “Buy” and a consensus target price of $24.83.
Shares of Nord Anglia Education (NYSE:NORD) traded up 0.97% during midday trading on Wednesday, reaching $24.00. The company’s stock had a trading volume of 118,850 shares. Nord Anglia Education has a 52 week low of $14.58 and a 52 week high of $24.34. The company has a 50 day moving average of $22.40 and a 200-day moving average of $21.99. The stock has a market capitalization of $2.50 billion, a price-to-earnings ratio of 175.18 and a beta of 0.91.
Nord Anglia Education (NYSE:NORD) last posted its quarterly earnings results on Tuesday, November 29th. The company reported ($0.14) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.15) by $0.01. The business earned $115.10 million during the quarter, compared to the consensus estimate of $110.77 million. Nord Anglia Education had a net margin of 2.06% and a return on equity of 20.31%. The company’s quarterly revenue was up 27.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.22) earnings per share. Equities research analysts predict that Nord Anglia Education will post $0.64 earnings per share for the current year.
A number of large investors have recently made changes to their positions in NORD. JPMorgan Chase & Co. boosted its stake in shares of Nord Anglia Education by 445.7% in the second quarter. JPMorgan Chase & Co. now owns 4,900 shares of the company’s stock worth $104,000 after buying an additional 4,002 shares during the period. Public Employees Retirement Association of Colorado bought a new stake in shares of Nord Anglia Education during the second quarter worth $163,000. BlackRock Group LTD boosted its stake in shares of Nord Anglia Education by 74.2% in the second quarter. BlackRock Group LTD now owns 8,959 shares of the company’s stock worth $189,000 after buying an additional 3,817 shares during the period. Vanguard Group Inc. bought a new stake in shares of Nord Anglia Education during the second quarter worth $202,000. Finally, Aperio Group LLC boosted its stake in shares of Nord Anglia Education by 9.9% in the third quarter. Aperio Group LLC now owns 17,306 shares of the company’s stock worth $377,000 after buying an additional 1,565 shares during the period. 29.23% of the stock is owned by hedge funds and other institutional investors.
About Nord Anglia Education
Nord Anglia Education, Inc is an operator of premium international schools. The principal activities of the Company consist of premium schools and associated activities in China, which includes the People’s Republic of China and Hong Kong Special Administrative Region (SAR); Europe, which includes Switzerland, Slovakia, Hungary, Czech Republic, Spain and Poland; Middle East/South East Asia (ME/SEA), which includes the United Arab Emirates, Qatar, Thailand, Singapore, Cambodia and Vietnam, and North America, which includes the United States and Mexico.
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