Career Education (CECO) Coverage Initiated at Barrington Research

Equities researchers at Barrington Research initiated coverage on shares of Career Education (NASDAQ:CECO) in a research note issued on Sunday. The firm set an “outperform” rating and a $13.49 price target on the stock. Barrington Research’s target price suggests a potential upside of 4.98% from the company’s previous close. 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 firms have also recently issued reports on CECO. ValuEngine cut shares of Career Education from a “buy” rating to a “hold” rating in a research note on Friday, November 2nd. BidaskClub cut shares of Career Education from a “hold” rating to a “sell” rating in a research note on Saturday, September 8th. Finally, Zacks Investment Research cut shares of Career Education from a “hold” rating to a “sell” rating in a research note on Tuesday, November 6th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $17.50.

Shares of NASDAQ:CECO traded down $0.50 during trading on Friday, reaching $12.85. The stock had a trading volume of 213,286 shares, compared to its average volume of 291,241. Career Education has a 52 week low of $11.38 and a 52 week high of $19.07. The stock has a market capitalization of $896.43 million, a P/E ratio of 41.45, a price-to-earnings-growth ratio of 1.14 and a beta of 1.79.

Career Education (NASDAQ:CECO) last posted its earnings results on Thursday, November 1st. The company reported $0.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.21 by $0.04. Career Education had a negative net margin of 0.57% and a positive return on equity of 16.59%. The company had revenue of $146.00 million during the quarter, compared to analysts’ expectations of $146.50 million. During the same quarter in the previous year, the company posted $0.05 earnings per share. Career Education’s quarterly revenue was up .7% compared to the same quarter last year. On average, analysts anticipate that Career Education will post 0.9 earnings per share for the current fiscal year.

In related news, SVP John Robert Kline sold 4,700 shares of the business’s stock in a transaction that occurred on Friday, September 28th. The shares were sold at an average price of $15.00, for a total value of $70,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Andrew Hurst sold 16,531 shares of the business’s stock in a transaction that occurred on Monday, December 3rd. The stock was sold at an average price of $14.00, for a total transaction of $231,434.00. The disclosure for this sale can be found here. Insiders sold a total of 22,531 shares of company stock valued at $320,550 in the last 90 days. 5.01% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently bought and sold shares of CECO. FMR LLC bought a new position in Career Education in the 2nd quarter worth approximately $27,152,000. BlackRock Inc. raised its position in Career Education by 9.5% in the 2nd quarter. BlackRock Inc. now owns 9,361,124 shares of the company’s stock worth $151,368,000 after purchasing an additional 815,638 shares during the last quarter. Braun Stacey Associates Inc. bought a new position in Career Education in the 3rd quarter worth approximately $9,744,000. Millennium Management LLC raised its position in Career Education by 330.4% in the 2nd quarter. Millennium Management LLC now owns 582,500 shares of the company’s stock worth $9,419,000 after purchasing an additional 447,159 shares during the last quarter. Finally, Frontier Capital Management Co. LLC raised its position in Career Education by 4.3% in the 3rd quarter. Frontier Capital Management Co. LLC now owns 6,957,548 shares of the company’s stock worth $103,876,000 after purchasing an additional 289,554 shares during the last quarter. Hedge funds and other institutional investors own 81.53% of the company’s stock.

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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