Apollo Education (APOL) Numbers Cut at Piper Jaffray on Light Outlook

Piper Jaffray analyst Peter Appert lowered estimate and his price target on Neutral-rated Apollo Education (NASDAQ: APOL) to $27.00 (from $28.00) following Q1 results and reduced FY guidance. The firm said execution issues delay enrollment inflection.

Appert commented, "A reduction in FY15 guidance following disappointing F1Q revenue and enrollment results is evidence that a turnaround at APOL is still a work-in-progress. While downside in the stock is likely limited given a strong balance sheet and cash flow profile, improved visibility into the timing of a recovery in enrollment growth will be required to generate increased investor enthusiasm for the shares."

The firm raised cut FY 2015 EPS from $1.73 to $1.38 and FY 2016 EPS from $2.08 to $1.72.

For an analyst ratings summary and ratings history on Apollo Education click here. For more ratings news on Apollo Education click here.

Shares of Apollo Education closed at $27.55 yesterday.

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