-$0.01 EPS Expected for Career Education Corporation (CECO) This Quarter
Brokerages expect Career Education Corporation (NASDAQ:CECO) to report earnings per share (EPS) of ($0.01) for the current quarter, according to Zacks Investment Research. Zero analysts have provided estimates for Career Education Corporation’s earnings. Career Education Corporation also reported earnings of ($0.01) per share during the same quarter last year. The firm is expected to announce its next earnings results 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 forecast that the firm will report earnings of $0.60 per share. Zacks’ earnings per share calculations are an average based on a survey of analysts that follow Career Education Corporation.
Career Education Corporation (NASDAQ:CECO) last issued its quarterly earnings data on Wednesday, August 9th. The company reported $0.07 EPS for the quarter, beating the consensus estimate of ($0.04) by $0.11. The firm 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 3.82% and a positive return on equity of 3.73%. The company’s quarterly revenue was down 19.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.17 earnings per share.
Several equities research analysts have recently issued reports on the stock. Piper Jaffray Companies restated a “hold” rating and issued a $13.00 target price on shares of Career Education Corporation in a report on Friday, July 21st. BidaskClub lowered shares of Career Education Corporation from a “hold” rating to a “sell” rating in a report on Saturday, July 8th.
Shares of Career Education Corporation (NASDAQ:CECO) traded down 0.93% during trading on Tuesday, hitting $8.56. 262,324 shares of the stock traded hands. The stock’s market cap is $591.29 million. The firm’s 50-day moving average price is $8.93 and its 200-day moving average price is $9.26. Career Education Corporation has a 12 month low of $6.25 and a 12 month high of $12.59.
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In other news, Director Gregory L. Jackson bought 10,000 shares of the stock in a transaction dated Monday, August 14th. The stock was purchased at an average price of $8.78 per share, for a total transaction of $87,800.00. Following the acquisition, the director now owns 30,866 shares of the company’s stock, valued at $271,003.48. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 4.88% of the stock is currently owned by company insiders.
Several large investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC purchased a new stake in Career Education Corporation during the first quarter valued at about $100,000. Bayesian Capital Management LP purchased a new stake in Career Education Corporation during the second quarter valued at about $100,000. PNC Financial Services Group Inc. raised its stake in shares of Career Education Corporation by 1.6% in the second quarter. PNC Financial Services Group Inc. now owns 10,520 shares of the company’s stock worth $101,000 after buying an additional 162 shares during the last quarter. Old Mutual Global Investors UK Ltd. bought a new stake in shares of Career Education Corporation during the first quarter worth $120,000. Finally, State of Alaska Department of Revenue raised its stake in shares of Career Education Corporation by 80.2% in the second quarter. State of Alaska Department of Revenue now owns 12,813 shares of the company’s stock worth $123,000 after buying an additional 5,703 shares during the last quarter. Hedge funds and other institutional investors own 74.70% 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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