Career Education, Grand Canyon Education soar after acing quarterly reports

Perdoceo Education

21/02/2019 16:03

** Shares of both private university cos Career Education
Corp  CECO.O  and Grand Canyon Education Inc  LOPE.O  jump >20
pct after their Q4 results surpass Street expectations
    ** CECO tracking biggest one-day pct gain in three years and
is top S&P 1500 index  .SPSUP  performer; LOPE on course for its
best day ever
    ** CECO top and bottom line above estimates of three
covering analysts (per Refinitiv), primarily driven by revenue
growth at its American InterContinental University (AIU)
 urn:newsml:reuters.com:*:nBw8rFKx0a
    ** LOPE revenue and adj EPS beat Street consensus view of
four analysts (Refinitiv) for 8th straight qtr  urn:newsml:reuters.com:*:nPn1RpZf6a
    ** Barrington Research reiterates "outperform" on LOPE and
$135 PT; says recent acquisition of Orbis Education Services and
additional university contracts over time should drive stock's
multiple, "particularly given lower regulatory risk profile"
    ** CECO recently up 22 pct to $17, extending YTD gain to 48
pct. LOPE last up 21 pct to around $118, and now up 23 pct so
far this year
    ** In 2018, CECO fell 5 pct in 2018, while LOPE advanced 7
pct

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