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February 7, 2013
11:24 EDTESI, EDMC, APEI, DV, NAUH, STRA, APOL, COCO, LOPE, BPI, CECO, LINCFor-profit education stocks rally after DeVry beats expectations
For-profit education stocks are climbing after one of the largest companies in the sector, DeVry (DV), reported stronger than expected second quarter results last night. DeVry's earnings excluding one-time items came in at 87c, versus analysts' consensus estimate of 56c. The company's revenue was slightly higher than expected. DeVry said that its costs in the second quarter were below its previous outlook, partly due to the deferral of some expenses into the third quarter. DeVry now expects to reduce its costs by $80M in the current fiscal year, up from its previous total of $60M. Undergraduate enrollment at the company's flagship DeVry University dropped 15.5% for the November 2012 session compared with the same period a year earlier and graduate student enrollment tumbled 16% during the same period. The total number of online undergraduate and graduate coursetakers in the November session decreased 11.7%, the company added. On a positive note, total enrollment at the company's Chamberlain College of Nursing surged 13.5%. In a note to investors earlier today, JPMorgan analyst Jeffrey Volshteyn upgraded his rating on the stock to Neutral from Underwegiht. While DeVry University's enrollment was weak, the company's other schools posted "stellar" results, the analyst wrote, adding that the company's diversification strategy appears to be working. Volshteyn increased his target on the shares to $28 from $22. In late morning trading, Apollo Group (APOL) climbed 3% to $20.60, Strayer (STRA) rallied 5% to $61, Grand Canyon (LOPE) rose 4% to $25.50, and ITT Educational (ESI) soared 7.5% to $18.07. Meanwhile, DeVry shares jumped over 20% to $31.41.
News For APEI;CECO;APOL;EDMC;BPI;STRA;ESI;LOPE;NAUH;LINC;COCO;DV From The Last 14 Days
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January 26, 2015
08:02 EDTAPOLApollo's Carnegie Learning approved by Texas for high school mathematics
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January 16, 2015
13:25 EDTAPOLManning & Napier Advisors reports 6.44% passive stake in Apollo Education
January 15, 2015
14:45 EDTAPEI, LOPE, ESI, DV, COCO, CECO, BPI, APOL, STRAFor-profit education names slip after Wells says search data negative
Shares of a number of for-profit education companies are falling after Wells Fargo wrote that Google search trends do not bode well for the sector. WHAT'S NEW: Google search trends for the fourth quarter indicate that students' interest in for-profit education companies probably did not increase significantly during that period, Wells Fargo analyst Trace Urdan wrote in a note to investors today. The data indicates that new student enrollment at the schools could even come in below already pessimistic expectations, Urdan reported. The analyst found that searches for terms related to for-profit schools dropped in Q4, versus the same period a year earlier. Moreover, there were many more searches in Q4 for non-profit schools than for-profit colleges, Urdan stated. Sentiment towards for-profit education names is already "quite weak" after President Obama on January 9 proposed allowing all Americans to attend community college at no cost and Apollo Education (APOL) on January 8 provided lower than expected Q2 revenue guidance, Urdan stated. As a result, investors may already be expecting schools in the sector to report weak enrollment data, Urdan believes. However, the search data for Strayer (STRA) is "more negative than positive," even though expectations for the company appear to be elevated, the analyst reported. On a positive note, search results for Capella Education (CPLA), Grand Canyon (LOPE), and DeVry's (DV) Chamberlain looked better than average, Urdan reported, adding that investors' expectations towards those names are relatively upbeat. PRICE ACTION: In mid-afternoon trading, Strayer fell 1% to $68, ITT Educational fell 3.6% to $8.37, Bridgepoint Educational (BPI) tumbled 4.5% to $10.10, American Public (APEI) slid 2.25% to $33.89, and Grand Canyon gave back 2% to $43.
January 14, 2015
10:21 EDTAPOLOptions with decreasing implied volatility
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January 13, 2015
10:17 EDTAPOLOptions with decreasing implied volatility
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