Hot Stock That Must Be in Your Portfolio: Career Education Corporation (NASDAQ: CECO)

Sandra Davis

I am Sandra Davis and I have over 16 years experience in the financial services industry giving me a vast understanding of how news affects the financial markets.

I am an active day trader spending the majority of my time analyzing earnings reports and watching commodities and derivatives. I have a Masters Degree in Economics from Westminster University with previous roles counting Investment Banking.

Address: 1611 Hiddenview Drive, Plymouth Meeting, PA 19462, USA
Phone: (+1) 215-962-8358
Email: sandra.davis@seekingreview.com
Sandra Davis

SCHAUMBURG, Ill., August 12, 2019 – Shares of Career Education Corporation (NASDAQ: CECO) showed the bullish trend with a higher momentum of 3.55% to $21.89. The company traded total volume of 1.071M shares as contrast to its average volume of 577.39K shares. The company has a market value of $1.57B and about 71.91M shares outstanding.

Career Education Corp. (CECO) reported first-quarter profit of $24.80M. On a per-share basis, the Schaumburg, Illinois-based Company said it had profit of 35 cents. Earnings, adjusted for non-recurring costs and to account for suspended operations, came to 36 cents per share.

REVENUE:

For the quarter ended March 31, 2019, total revenue was $157.90M as contrast to total revenue of $148.10M for the prior year quarter. Both universities contributed to this revenue growth mainly driven by underlying enrollment trends.

OPERATING INCOME (LOSS):

For the quarter ended March 31, 2019, the Company recorded operating income of $30.01M, contrast to operating income of $20.50M in the prior year quarter. The improvement in operating income performance was driven by revenue growth at both universities as well as reduced operating losses at the closed campuses which are now reported within Corporate and Other, partially offset with ongoing investments in technology and student-serving processes and increased bad debt expense.

NET INCOME AND EARNINGS PER DILUTED SHARE:

For the quarter ended March 31, 2019, the Company recorded net income of $24.80M, contrast to $17.50M for the prior year quarter. Earnings per diluted share were $0.35 for the quarter ended March 31, 2019, as contrast to $0.25 for the prior year quarter. Adjusted earnings per diluted share were $0.36 for the quarter ended March 31, 2019, as contrast to $0.28 for the prior year quarter.

BALANCE SHEET AND CASH FLOW:

Net cash offered by operating activities was $12.90M for the quarter ended March 31, 2019, contrast to $11.10M for the prior year quarter. As of March 31, 2019 and December 31, 2018, cash, cash equivalents, restricted cash and available-for-sale short-term investments totaled $239.90M and $229.20M, respectively.

The Company offered net profit margin of 10.60% while its gross profit margin was 81.50%. ROE was recorded as 17.90% while beta factor was 1.55. The stock, as of recent close, has shown the weekly upbeat performance of 17.25% which was maintained at 91.68% in this year.

Sandra Davis

Sandra Davis

I am Sandra Davis and I have over 16 years experience in the financial services industry giving me a vast understanding of how news affects the financial markets. I am an active day trader spending the majority of my time analyzing earnings reports and watching commodities and derivatives. I have a Masters Degree in Economics from Westminster University with previous roles counting Investment Banking. Address: 1611 Hiddenview Drive, Plymouth Meeting, PA 19462, USA Phone: (+1) 215-962-8358 Email: sandra.davis@seekingreview.com