Barrington Research Initiates Coverage on Career Education (CECO)

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Barrington Research assumed coverage on shares of Career Education (NASDAQ:CECO) in a research report report published on Monday morning, MarketBeat reports. The brokerage issued an outperform rating and a $18.00 price objective 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 equities analysts also recently issued reports on the company. Zacks Investment Research downgraded Career Education from a hold rating to a sell rating in a research note on Tuesday, November 6th. ValuEngine downgraded Career Education from a buy rating to a hold rating in a research note on Friday, November 2nd. Finally, BidaskClub raised Career Education from a sell rating to a hold rating in a research note on Wednesday, October 24th. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. The stock presently has a consensus rating of Hold and a consensus target price of $18.63.

Shares of CECO stock opened at $13.35 on Monday. The company has a market cap of $938.98 million, a PE ratio of 43.06, a price-to-earnings-growth ratio of 1.50 and a beta of 1.79. Career Education has a 12-month low of $11.38 and a 12-month high of $19.07.

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

In related news, SVP Andrew Hurst sold 16,531 shares of the company’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 value of $231,434.00. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP John Robert Kline sold 4,700 shares of the company’s stock in a transaction that occurred on Friday, September 28th. The stock was sold at an average price of $15.00, for a total value of $70,500.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 22,531 shares of company stock valued at $320,550. Company insiders own 5.01% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. grew its holdings in shares of Career Education by 7.9% in the 3rd quarter. BlackRock Inc. now owns 10,104,062 shares of the company’s stock worth $150,854,000 after acquiring an additional 742,938 shares during the period. Frontier Capital Management Co. LLC grew its holdings in shares of 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 acquiring an additional 289,554 shares during the period. Renaissance Technologies LLC grew its holdings in shares of Career Education by 6.5% in the 2nd quarter. Renaissance Technologies LLC now owns 4,497,662 shares of the company’s stock worth $72,727,000 after acquiring an additional 273,900 shares during the period. Vanguard Group Inc. grew its holdings in shares of Career Education by 6.4% in the 3rd quarter. Vanguard Group Inc. now owns 4,188,013 shares of the company’s stock worth $62,526,000 after acquiring an additional 253,599 shares during the period. Finally, FMR LLC grew its holdings in shares of Career Education by 41.0% in the 3rd quarter. FMR LLC now owns 2,366,933 shares of the company’s stock worth $35,338,000 after acquiring an additional 687,761 shares during the period. Institutional investors and hedge funds own 81.53% of the company’s stock.

About Career Education

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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