Zacks: Analysts Set $13.00 Price Target for Career Education Corporation (NASDAQ:CECO)

Career Education Corporation (NASDAQ:CECO) has been assigned an average broker rating score of 3.00 (Hold) from the one analysts that cover the stock, Zacks Investment Research reports. One research analyst has rated the stock with a hold recommendation.

Brokers have set a 1-year consensus price objective of $13.00 for the company and are expecting that the company will post ($0.04) earnings per share for the current quarter, according to Zacks. Zacks has also assigned Career Education Corporation an industry rank of 103 out of 265 based on the ratings given to related companies.

CECO has been the topic of a number of recent research reports. BidaskClub lowered shares of Career Education Corporation from a “hold” rating to a “sell” rating in a research note on Saturday, July 8th. Piper Jaffray Companies reiterated a “hold” rating and set a $13.00 price target on shares of Career Education Corporation in a research note on Friday, July 21st.

A number of hedge funds have recently modified their holdings of the company. Renaissance Technologies LLC raised its stake in shares of Career Education Corporation by 10.6% in the first quarter. Renaissance Technologies LLC now owns 4,727,962 shares of the company’s stock worth $41,133,000 after buying an additional 453,500 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Career Education Corporation by 9.8% in the first quarter. Dimensional Fund Advisors LP now owns 4,633,871 shares of the company’s stock worth $40,315,000 after buying an additional 411,878 shares during the period. James Investment Research Inc. acquired a new stake in shares of Career Education Corporation during the first quarter worth about $2,857,000. Vanguard Group Inc. raised its stake in shares of Career Education Corporation by 6.5% in the first quarter. Vanguard Group Inc. now owns 3,227,015 shares of the company’s stock worth $28,074,000 after buying an additional 195,956 shares during the period. Finally, AQR Capital Management LLC raised its stake in shares of Career Education Corporation by 23.7% in the first quarter. AQR Capital Management LLC now owns 760,656 shares of the company’s stock worth $6,617,000 after buying an additional 145,503 shares during the period. Institutional investors own 74.84% of the company’s stock.

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Career Education Corporation (NASDAQ:CECO) traded up 7.23% on Wednesday, reaching $8.90. 430,045 shares of the company’s stock were exchanged. The firm has a 50 day moving average of $9.36 and a 200-day moving average of $9.38. Career Education Corporation has a one year low of $6.25 and a one year high of $12.59. The stock’s market cap is $614.35 million.

Career Education Corporation (NASDAQ:CECO) last issued its quarterly earnings results on Wednesday, August 9th. The company reported $0.07 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.04) by $0.11. The company had revenue of $146.20 million for the quarter, compared to analyst estimates of $147.80 million. Career Education Corporation had a negative net margin of 2.48% and a positive return on equity of 6.03%. The business’s revenue for the quarter was down 19.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.17 earnings per share. Equities research analysts forecast that Career Education Corporation will post $0.07 EPS for the current fiscal year.

About Career Education Corporation

Career Education Corporation, through its colleges, institutions and universities, offers education to students in a range of career-oriented disciplines through online, on-ground and hybrid learning programs. The Company’s American InterContinental University (AIU) and Colorado Technical University (CTU) provide degree programs through the master’s or doctoral level as well as associate and bachelor’s levels.

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