Barclays Cuts PT and Estimates on Career Education (CECO); Falling Off a Cliff, Then Down a Hole

Barclays maintains an 'Equalweight' on Career Education (NASDAQ: CECO) price target of $4.00 (from $6.00).

Analyst, Gary E. Bisbee, said he expected CECO to report poor Q2 results with lower enrollments, revenues and margins. And, the actual results were even worse than the sour expectations. Bisbee sees losses going down even further in the next quarter and believes the company will lose money in 2012 and '13...All in: Risk/Reward unattractive.

Barclays cuts FY12 EPS estimate from -0.13 to -0.26 and FY13 from 0.12 to -0.22.

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

Shares of Career Education closed at $3.69 yesterday.

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