Strayer Education (STRA) Posts Q3 EPS of $1.72, Tops by 2c; Guides Q410, FY10, FY11 EPS Below Street; Increases Quarterly Dividend 33%, Yields 3.2%; Authorizes $150M Buyback

October 28, 2010 7:02 AM EDT
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Price: $78.27 --0%

EPS Growth %: -27.5%

Financial Fact:
Net income: 2.88M

Today's EPS Names:
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Strayer Education (Nasdaq: STRA) reports Q3 EPS of $1.72, 2 cents better than the analyst estimate of $1.70. Revenue for the quarter was $147.6 million, which compares to the estimate of $145.88 million.

Enrollment increased 12% to 60,711.

Sees Q410 EPS of $2.64 - $2.66, versus the $2.99 consensus.

Also sees FY10 EPS of $9.63 - $9.65, compared to the consensus of $9.93.

Sees FY11 revenue growth of 17% - 18% and an EPS of $11.30 - $11.50. Consensus sees an EPS of $12.06.

The Company also announced today that its Board of Directors is increasing the Company’s annual dividend by 33% to $4.00 per share from $3.00 per share. This annual dividend will be paid quarterly in the amount of $1.00 per share. Accordingly, the Company’s Board of Directors has declared that the Company will pay a dividend of $1.00 per share on December 10, 2010 to shareholders of record as of November 26, 2010. The ex-dividend date is November 24, 2010.

Yield on the dividend is 3.2%.

Their Board also authorized a stock buyback of $150 million over the next 14 months.


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