Adtalem Global Education (NYSE:ATGE) Shares Gap Up Following Earnings Beat

Adtalem Global Education Inc. (NYSE:ATGE) gapped up before the market opened on Friday following a better than expected earnings announcement. The stock had previously closed at $52.40, but opened at $56.50. Adtalem Global Education shares last traded at $60.02, with a volume of 297,054 shares changing hands.

The company reported $1.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.14 by $0.36. The firm had revenue of $412.70 million for the quarter, compared to the consensus estimate of $391.68 million. Adtalem Global Education had a net margin of 7.12% and a return on equity of 13.86%. The business’s revenue was up 11.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.13 earnings per share.

Analyst Upgrades and Downgrades

ATGE has been the topic of a number of research analyst reports. Barrington Research increased their price objective on shares of Adtalem Global Education from $65.00 to $70.00 and gave the company an “outperform” rating in a research report on Friday. Robert W. Baird increased their price objective on shares of Adtalem Global Education from $65.00 to $70.00 and gave the company an “outperform” rating in a research report on Friday. Finally, StockNews.com downgraded shares of Adtalem Global Education from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, February 7th.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Skandinaviska Enskilda Banken AB publ purchased a new stake in shares of Adtalem Global Education during the third quarter worth about $56,000. Blue Trust Inc. grew its holdings in Adtalem Global Education by 41.4% during the 4th quarter. Blue Trust Inc. now owns 1,042 shares of the company’s stock valued at $61,000 after buying an additional 305 shares in the last quarter. Daiwa Securities Group Inc. grew its holdings in Adtalem Global Education by 19.6% during the 4th quarter. Daiwa Securities Group Inc. now owns 1,280 shares of the company’s stock valued at $75,000 after buying an additional 210 shares in the last quarter. Center for Financial Planning Inc. grew its holdings in Adtalem Global Education by 50.3% during the 4th quarter. Center for Financial Planning Inc. now owns 1,910 shares of the company’s stock valued at $113,000 after buying an additional 639 shares in the last quarter. Finally, First Trust Direct Indexing L.P. purchased a new position in Adtalem Global Education during the 3rd quarter valued at approximately $201,000. 98.84% of the stock is currently owned by institutional investors.

Adtalem Global Education Price Performance

The firm has a market cap of $2.35 billion, a PE ratio of 22.59, a PEG ratio of 0.75 and a beta of 0.92. The firm has a fifty day simple moving average of $49.31 and a two-hundred day simple moving average of $52.90. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.95 and a current ratio of 0.95.

Adtalem Global Education Company Profile

Adtalem Global Education Inc provides workforce solutions worldwide. It operates through three segments, Chamberlain, Walden, and Medical and Veterinary. The Chamberlain segment offers degree and non-degree programs in the nursing and health professions postsecondary education industry. This segment operates Chamberlain University.