Barrington Research Initiates Coverage on Career Education (CECO)

Barrington Research began coverage on shares of Career Education (NASDAQ:CECO) in a report published on Monday morning, Marketbeat reports. The brokerage issued an outperform rating and a $18.00 price target on the stock. Barrington Research also issued estimates for Career Education’s Q4 2018 earnings at $0.24 EPS, FY2018 earnings at $0.90 EPS and FY2019 earnings at $1.10 EPS.

A number of other research analysts have also weighed in on CECO. BidaskClub lowered Career Education from a buy rating to a hold rating in a research note on Tuesday, August 7th. Zacks Investment Research lowered Career Education from a hold rating to a sell rating in a research note on Tuesday, November 6th. Finally, ValuEngine lowered Career Education from a strong-buy rating to a buy rating in a research note on Tuesday, September 4th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. Career Education has a consensus rating of Hold and a consensus price target of $18.63.

Shares of Career Education stock opened at $13.35 on Monday. Career Education has a fifty-two week low of $11.38 and a fifty-two week high of $19.07. The firm has a market cap of $938.98 million, a price-to-earnings ratio of 43.06, a price-to-earnings-growth ratio of 1.50 and a beta of 1.79.

Career Education (NASDAQ:CECO) last issued its quarterly earnings results on Thursday, November 1st. The company reported $0.25 earnings per share for the quarter, topping analysts’ consensus estimates of $0.21 by $0.04. Career Education had a positive return on equity of 16.59% and a negative net margin of 0.57%. The company had revenue of $146.00 million for the quarter, compared to analyst estimates of $146.50 million. During the same quarter in the prior year, the company posted $0.05 EPS. The business’s revenue for the quarter was up .7% compared to the same quarter last year. As a group, sell-side analysts expect that Career Education will post 0.9 earnings per share for the current year.

In related news, SVP John Robert Kline sold 4,700 shares of the stock in a transaction on Friday, September 28th. The stock was sold at an average price of $15.00, for a total value of $70,500.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Andrew Hurst sold 16,531 shares of the stock in a transaction on Monday, December 3rd. The stock was sold at an average price of $14.00, for a total value of $231,434.00. The disclosure for this sale can be found here. Insiders sold a total of 22,531 shares of company stock worth $320,550 over the last ninety days. Corporate insiders own 5.01% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the stock. Quantbot Technologies LP purchased a new position in shares of Career Education in the 3rd quarter worth $155,000. Amalgamated Bank purchased a new position in shares of Career Education in the 2nd quarter worth $179,000. Wedge Capital Management L L P NC purchased a new position in shares of Career Education in the 2nd quarter worth $191,000. Bank of Montreal Can purchased a new position in shares of Career Education in the 2nd quarter worth $193,000. Finally, Trexquant Investment LP purchased a new position in shares of Career Education in the 3rd quarter worth $193,000. 81.53% of the stock is currently owned by institutional investors and hedge funds.

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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