Barclays Reiterates an 'Equalweight' on Career Education (CECO); Thoughts Following Conference Call
Tweet Send to a FriendGet Alerts CECO Hot Sheet
Price: $3.08 +1.32%
Rating Summary:
0 Buy, 10 Hold, 3 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Rating Summary:
0 Buy, 10 Hold, 3 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Trade CECO Now!
Barclays reiterates an 'Equalweight' on Career Education (NASDAQ: CECO), PT $24.
Barclays analyst says, "All in, CECO's 4Q'10 results were solid given the challenging environment, with enrollment predictably decelerating, but EPS up 16% to $0.84, which beat our $0.80 estimate (though solely due to a lower tax rate)...We are reducing our 2011-'12 EPS estimates to work in a weaker enrollment growth environment and slightly worse negative operating leverage, and now estimate 2011 and 2012 EPS of $2.61 and $2.25 (y/y declines of 13% and 14%, respectively)."
"In our view, CECO prices in pessimistic fundamental and regulatory outcomes at CY'11-'12 P/Es of 9.3x/10.8x and free cash flow yields of 12%/11%. However, enrollment trends are deteriorating and 2011-2012 will likely be transition years in which profits fall."
For more ratings news on Career Education click here and for the rating history of Career Education click here.
Shares of Career Education closed at $24.37 yesterday, with a 52 week range of $16.36-$35.88.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
Barclays analyst says, "All in, CECO's 4Q'10 results were solid given the challenging environment, with enrollment predictably decelerating, but EPS up 16% to $0.84, which beat our $0.80 estimate (though solely due to a lower tax rate)...We are reducing our 2011-'12 EPS estimates to work in a weaker enrollment growth environment and slightly worse negative operating leverage, and now estimate 2011 and 2012 EPS of $2.61 and $2.25 (y/y declines of 13% and 14%, respectively)."
"In our view, CECO prices in pessimistic fundamental and regulatory outcomes at CY'11-'12 P/Es of 9.3x/10.8x and free cash flow yields of 12%/11%. However, enrollment trends are deteriorating and 2011-2012 will likely be transition years in which profits fall."
For more ratings news on Career Education click here and for the rating history of Career Education click here.
Shares of Career Education closed at $24.37 yesterday, with a 52 week range of $16.36-$35.88.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
You May Also Be Interested In
- Career Education Honors Faculty Excellence With 13th Annual Educator of the Year Awards
- Dollar Tree (DLTR) Beats But Looks Stretched - Jefferies
- Wedbush Downgrades salesforce.com (CRM) to Neutral
Create E-mail Alert Related Categories
Analyst CommentsRelated Entities
Barclays
Login with Facebook
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
