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Stock Market & Financial Investment News

News Breaks
December 4, 2012
10:03 EDTCECOCareer Education retreats after analyst downgrades stock
For-profit education company Career Education (CECO) is falling after Wells Fargo analyst Trace Urdan downgraded his rating on the stock to Market Perform from Outperform. The outlook for Career Education's enrollment and margins is uncertain, the analyst wrote. Moreover, the company is likely to spend a great deal of money on closing campuses, Urdan added. Career Education last month announced that it would close 23 of its schools and lay off about 900 of its employees. While this restructuring initiative should result in a "healthy" 2014 operating profit, Career Education may have to use much of its cash reserves to pay the restructuring costs, the analyst wrote. Urdan believes the stock could remain range bound until the company provides more information about its earnings outlook, and he slashed his valuation range on the shares to $2-$6 from $5-$7. In early trading, Career education fell 6c or 2.13%, to $2.76.
News For CECO From The Last 14 Days
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October 17, 2014
10:16 EDTCECOHigh option volume stocks
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October 15, 2014
07:07 EDTCECOFor profit education positive catalysts outweigh negative, says Wells Fargo
Wells Fargo expects for-profit education stocks to benefit from improved hiring trends and a sale by Corinthian of its assets that, according t othe firm ,would set a valuation floor for the sector. The firm continues to believe that the final gainful employment rule will be neutral to positive for the group. Wells favors the option value on the long side for the sector. Publicly traded companies in the space include American Public Education (APEI), Apollo Education (APOL), Bridgepoint Education (BPI), Career Education (CECO), Corinthian Colleges (COCO), DeVry (DV), Grand Canyon (LOPE), ITT Educational (ESI) and Strayer (STRA).

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