Barclays Maintains an 'Equalweight' on Apollo Education (APOL); F3Q'11 Beats Expectations
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Price: $10.00 --0%
Rating Summary:
5 Buy, 12 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 16 | Down: 11 | New: 13
Rating Summary:
5 Buy, 12 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 16 | Down: 11 | New: 13
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Barclays maintains an 'Equalweight' on Apollo Education (NASDAQ: APOL), PT $48.
Barclays analyst says, "Last night, Apollo reported better-than-expected F3Q'11 results highlighted by improving student retention, lower bad debt expense, and aggressive share repurchases. F3Q'11 revenue and EPS declined 8%/17% y/y to $1.236B and $1.45, with EPS solidly above the consensus $1.33 estimate."
"As expected, starts and enrollments fell sharply y/y (-41%/-16%). Despite an easier comparison, Apollo guided for starts to fall by a similar amount next quarter, which we expect will drive accelerating total enrollment and profit declines in future quarters."
"Based on the F3Q'11 results and reiterated FY'11-'12 guidance, we are raising our FY'11-'12 EPS estimates by $0.40/$0.09 to $4.72/$3.10, or -12%/-34% y/y."
For more ratings news on Apollo Education click here and for the rating history of Apollo Education click here.
Shares of Apollo Education closed at $43.68 yesterday.
Barclays analyst says, "Last night, Apollo reported better-than-expected F3Q'11 results highlighted by improving student retention, lower bad debt expense, and aggressive share repurchases. F3Q'11 revenue and EPS declined 8%/17% y/y to $1.236B and $1.45, with EPS solidly above the consensus $1.33 estimate."
"As expected, starts and enrollments fell sharply y/y (-41%/-16%). Despite an easier comparison, Apollo guided for starts to fall by a similar amount next quarter, which we expect will drive accelerating total enrollment and profit declines in future quarters."
"Based on the F3Q'11 results and reiterated FY'11-'12 guidance, we are raising our FY'11-'12 EPS estimates by $0.40/$0.09 to $4.72/$3.10, or -12%/-34% y/y."
For more ratings news on Apollo Education click here and for the rating history of Apollo Education click here.
Shares of Apollo Education closed at $43.68 yesterday.
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