Career Education Corp. (CECO) Receives Consensus Rating of “Buy” from Brokerages

Career Education Corp. (NASDAQ:CECO) has been given an average recommendation of “Buy” by the six research firms that are currently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $19.13.

Several equities research analysts have recently commented on CECO shares. Zacks Investment Research downgraded Career Education from a “hold” rating to a “sell” rating in a report on Thursday, January 3rd. Barrington Research restated a “buy” rating and set a $18.00 price objective on shares of Career Education in a report on Thursday, February 7th. Finally, ValuEngine upgraded Career Education from a “hold” rating to a “buy” rating in a report on Friday, February 22nd.

In related news, SVP Jeffrey David Ayers sold 10,903 shares of the company’s stock in a transaction on Thursday, January 24th. The stock was sold at an average price of $13.00, for a total transaction of $141,739.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP John Robert Kline sold 4,700 shares of the company’s stock in a transaction on Thursday, February 21st. The stock was sold at an average price of $15.20, for a total value of $71,440.00. The disclosure for this sale can be found here. Insiders have sold 26,521 shares of company stock valued at $352,820 in the last quarter. 5.58% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently made changes to their positions in the stock. Russell Investments Group Ltd. boosted its position in Career Education by 300.4% in the third quarter. Russell Investments Group Ltd. now owns 27,408 shares of the company’s stock worth $398,000 after purchasing an additional 20,562 shares during the last quarter. Prudential Financial Inc. boosted its position in Career Education by 5.9% in the third quarter. Prudential Financial Inc. now owns 120,710 shares of the company’s stock worth $1,802,000 after purchasing an additional 6,760 shares during the last quarter. Bank of New York Mellon Corp boosted its position in Career Education by 7.0% in the third quarter. Bank of New York Mellon Corp now owns 764,614 shares of the company’s stock worth $11,417,000 after purchasing an additional 50,198 shares during the last quarter. BlackRock Inc. boosted its position in Career Education by 7.9% in the third quarter. BlackRock Inc. now owns 10,104,062 shares of the company’s stock worth $150,854,000 after purchasing an additional 742,938 shares during the last quarter. Finally, FMR LLC boosted its position in Career Education by 41.0% in the third quarter. FMR LLC now owns 2,366,933 shares of the company’s stock worth $35,338,000 after purchasing an additional 687,761 shares during the last quarter. Institutional investors and hedge funds own 80.96% of the company’s stock.

CECO traded up $0.10 during trading on Friday, hitting $17.85. The company’s stock had a trading volume of 90,683 shares, compared to its average volume of 377,801. Career Education has a twelve month low of $11.01 and a twelve month high of $19.07. The firm has a market cap of $1.23 billion, a PE ratio of 17.00, a price-to-earnings-growth ratio of 1.24 and a beta of 1.67.

Career Education (NASDAQ:CECO) last released its quarterly earnings data on Wednesday, February 20th. The company reported $0.30 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.25 by $0.05. The firm had revenue of $145.50 million during the quarter, compared to the consensus estimate of $144.63 million. Career Education had a return on equity of 19.78% and a net margin of 9.49%. The company’s quarterly revenue was up 1.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.19 earnings per share. As a group, equities research analysts expect that Career Education will post 1.13 EPS for the current fiscal year.

Career Education Company Profile

Career Education Corporation operates colleges, institutions, and universities that provide education to student population in various career-oriented disciplines through online, campus based, and blended learning programs in the United States. The company operates through three segments: Colorado Technical University (CTU), American InterContinental University (AIU), and All Other Campuses.

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