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Stock Market & Financial Investment News

News Breaks
February 28, 2014
12:07 EDTAPEI, DV, CECO, STRA, ESI, COCO, LOPE, BPI, APOLFor-profit education companies down after American Public profit miss
Shares of most for-profit education companies are falling after one of the companies in the sector, American Public Education (APEI), reported lower than expected fourth quarter profits, and provided much lower than expected first quarter profit guidance. WHAT'S NEW: American Public Education, which specializes in serving members of the military and public employees, reported Q4 earnings per share of 51c, versus analysts' consensus outlook of 54c. The company reported slightly higher than expected Q4 revenue, but predicted that its Q1 EPS would be 43c-48c, versus the consensus outlook of 67c. The company expects net course registrations by new students at its online university, American Public University System, to fall 7%-9% during the current quarter versus the same period a year earlier. On American Public's earnings conference call, the company noted that several branches of the military had made cuts and/or had implemented new restrictions o tuition assistance programs for their members. Uncertainty about these programs among service members, as well as confusion about eligibility requirements for them, have been at least partly responsible for continued soft demand for American Public's courses among members of the military, the company's CEO Wallace Boston stated. ANALYST REACTION: In a note to investors earlier today, Barrington Research analyst Alexander Paris wrote that American Public's total net registrations during Q4 were below analysts' consensus estimate. The stock's potential in the near-term is limited, as a result of price cuts by the company's competitors, and uncertainties about military funding, wrote Paris. He kept a Market Perform rating on the shares, but sees the company as an attractive long-term investment. PRICE ACTION: In late morning trading, ITT Educational (ESI) dropped 1.3% to $30.63, Strayer (STRA) retreated 1.7% to $48.25, Grand Canyon (LOPE) gave back 1.4% to $47.30, and American Public Education plunged 22% to $36.05. Other publicly traded companies in the space include Apollo Education (APOL), Bridgepoint Education (BPI), Career Education (CECO), Corinthian Colleges (COCO), and DeVry (DV).
News For APEI;DV;CECO;STRA;ESI;COCO;LOPE;BPI;APOL From The Last 14 Days
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October 30, 2014
05:40 EDTLOPEGrand Canyon upgraded to Overweight from Neutral at Piper Jaffray
Piper Jaffray upgraded Grand Canyon to Overweight with a $52 price target following the company's Q3 results citing "robust" fundamentals and the potential go private transaction.
October 29, 2014
16:29 EDTLOPEGrand Canyon forms committee to explore conversion to nonprofit entity
Grand Canyon Education announced that its board has formed a committee of independent directors to explore options aimed at enhancing stockholder value. The board chose to form the committee after the "University's management expressed a desire to explore the possibility of effecting a conversion of the University to a nonprofit entity." It stated, "Such a transaction would enable the University to conduct itself in the future as a traditional nonprofit university on a level playing field with the other traditional universities with which the University competes and in a manner consistent with which it operated for 55 years prior to financial challenges which forced it to convert to a for-profit entity in 2004 as a means to solicit investment capital and remain in operation." The board "cautions the University's stockholders and others considering trading in its securities that the Board of Directors has not yet received a proposal nor has the Board of Directors determined whether such a transaction would be feasible." The committee intends to engage a financial advisor to aid in its review of any such proposal if made and any other alternatives, which include remaining as a for profit public company.
16:27 EDTLOPEGrand Canyon sees 2014 EPS $2.33, consensus $2.23
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16:26 EDTLOPEGrand Canyon sees Q4 EPS 66c, consensus 64c
Sees Q4 revenue $184.5M, consensus $181.93M.
16:26 EDTLOPEGrand Canyon reports Q3 EPS 62c, consensus 54c
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October 27, 2014
10:43 EDTAPOLOptions with decreasing implied volatility
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October 24, 2014
10:29 EDTAPOLOptions with decreasing implied volatility
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October 23, 2014
16:19 EDTDVDeVry reports Q1 EPS ex-items 47c, consensus 29c
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15:30 EDTDVNotable companies reporting after market close
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October 21, 2014
17:22 EDTESIBlum capital lowers stake in ITT Educational to 7.9%
07:34 EDTAPOLApollo Education sees 1Q15 revenue $720M-$730M, consensus $763.70M
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07:33 EDTAPOLApollo Education sees FY15 revenue $2.8B-$2.85B, consensus $2.80B
07:32 EDTAPOLApollo reports Q4 University of Phoenix New Degreed Enrollment down 5.9%
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07:31 EDTAPOLApollo Education reports Q4 EPS from cont. ops. ex-items 34c, consensus 27c
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October 17, 2014
12:23 EDTESIITT leaps after upping scholarships, projecting FY15 positive cash flow
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11:34 EDTESIITT expects interest expense reduction in FY15 vs. FY14
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11:28 EDTESIITT Educational says Q3 enrollment impacted by 11% admissions decline
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10:16 EDTCECOHigh option volume stocks
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07:34 EDTESIITT Educational reports preliminary Q3 new student enrollments down 9.5%
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07:34 EDTESIITT Educational reports preliminary Q2 new student enrollments down 8.1%
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