$352.49 Million in Sales Expected for Adtalem Global Education Inc (ATGE) This Quarter
Equities analysts expect Adtalem Global Education Inc (NYSE:ATGE) to post $352.49 million in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for Adtalem Global Education’s earnings, with the highest sales estimate coming in at $353.50 million and the lowest estimate coming in at $350.98 million. Adtalem Global Education posted sales of $451.47 million in the same quarter last year, which would indicate a negative year-over-year growth rate of 21.9%. The business is scheduled to report its next earnings results after the market closes on Thursday, August 16th.
According to Zacks, analysts expect that Adtalem Global Education will report full year sales of $1.36 billion for the current financial year. For the next financial year, analysts expect that the company will post sales of $1.41 billion per share, with estimates ranging from $1.39 billion to $1.43 billion. Zacks’ sales averages are an average based on a survey of sell-side analysts that that provide coverage for Adtalem Global Education.
Several research analysts have recently commented on ATGE shares. BMO Capital Markets raised Adtalem Global Education from a “market perform” rating to an “outperform” rating and set a $45.00 price objective for the company in a report on Monday, May 7th. They noted that the move was a valuation call. Zacks Investment Research raised Adtalem Global Education from a “sell” rating to a “hold” rating in a report on Tuesday, July 31st. First Analysis boosted their price objective on Adtalem Global Education to $56.00 and gave the stock an “overweight” rating in a report on Tuesday, May 29th. Barrington Research upped their target price on Adtalem Global Education from $57.00 to $60.00 and gave the stock an “outperform” rating in a research note on Monday, July 9th. Finally, ValuEngine lowered Adtalem Global Education from a “strong-buy” rating to a “buy” rating in a research note on Friday, May 4th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $55.60.
In other Adtalem Global Education news, insider Ronald L. Taylor sold 18,880 shares of the company’s stock in a transaction that occurred on Monday, May 21st. The stock was sold at an average price of $46.77, for a total value of $883,017.60. Following the completion of the sale, the insider now owns 544,495 shares of the company’s stock, valued at $25,466,031.15. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Christopher C. Nash sold 5,450 shares of the company’s stock in a transaction that occurred on Tuesday, May 22nd. The stock was sold at an average price of $46.76, for a total value of $254,842.00. Following the completion of the sale, the senior vice president now directly owns 13,787 shares of the company’s stock, valued at approximately $644,680.12. The disclosure for this sale can be found here. In the last ninety days, insiders sold 37,205 shares of company stock valued at $1,812,235. 3.04% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently modified their holdings of the business. BlackRock Inc. boosted its stake in Adtalem Global Education by 3.2% in the second quarter. BlackRock Inc. now owns 6,592,289 shares of the company’s stock worth $317,090,000 after buying an additional 204,684 shares in the last quarter. Wedge Capital Management L L P NC boosted its stake in Adtalem Global Education by 1.4% in the second quarter. Wedge Capital Management L L P NC now owns 1,762,877 shares of the company’s stock worth $84,794,000 after buying an additional 24,312 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Adtalem Global Education by 81.3% in the second quarter. Bank of New York Mellon Corp now owns 1,281,046 shares of the company’s stock worth $61,617,000 after buying an additional 574,347 shares in the last quarter. Rothschild Asset Management Inc. boosted its stake in Adtalem Global Education by 2.5% in the second quarter. Rothschild Asset Management Inc. now owns 879,936 shares of the company’s stock worth $42,325,000 after buying an additional 21,761 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its stake in Adtalem Global Education by 6.9% in the first quarter. Victory Capital Management Inc. now owns 796,655 shares of the company’s stock worth $37,881,000 after buying an additional 51,247 shares in the last quarter. 97.15% of the stock is owned by institutional investors and hedge funds.
About Adtalem Global Education
Adtalem Global Education Inc provides educational services worldwide. It operates through four segments: Medical and Healthcare, Professional Education, Technology and Business, and U.S. Traditional Postsecondary. The Medical and Healthcare segment operates Chamberlain University, which provides pre and post-licensure bachelor's, master's, and doctorate degree programs in nursing through campus and online; American University of the Caribbean School of Medicine and Ross University School of Medicine, which provide medical education; and Ross University School of Veterinary Medicine that offers veterinary education.
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