Zacks Investment Research downgraded shares of Adtalem Global Education (NYSE:ATGE) from a hold rating to a strong sell rating in a report released on Thursday, Zacks.com reports. They currently have $29.00 price target on the stock.
According to Zacks, “Adtalem’s shares have underperformed the industry in the past three months. The trend is likely to continue, given lackluster results for fourth-quarter fiscal 2020. Earnings and revenues lagged the Zacks Consensus Estimate by 4.9% and 0.3% as well as declined 12.1% and 1.7% year over year, respectively. Its Medical and Veterinary schools witnessed COVID-19-led reduced clinical weeks and the loss of housing revenues. Also, cancellation of ACAMS in person conferences and lower contribution from Becker due to the delay of CPA testing as well as constrained customer spending added to the woes. Although enrollment of new and total students grew 5.9% and 6.9% year over year, uncertain market conditions are concerning.”
ATGE has been the topic of a number of other reports. ValuEngine raised Adtalem Global Education from a sell rating to a hold rating in a research note on Friday, May 1st. Barrington Research reaffirmed a buy rating and set a $35.00 price target on shares of Adtalem Global Education in a research note on Friday, August 14th. TheStreet raised Adtalem Global Education from a c+ rating to a b- rating in a research note on Thursday, August 6th. Finally, Robert W. Baird upped their price target on Adtalem Global Education from $32.00 to $35.00 and gave the stock a neutral rating in a research note on Wednesday, May 6th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the stock. The company has a consensus rating of Hold and a consensus price target of $38.50.
Shares of NYSE:ATGE traded down $0.09 during midday trading on Thursday, reaching $33.06. The company’s stock had a trading volume of 13,840 shares, compared to its average volume of 470,041. The firm has a market capitalization of $1.76 billion, a price-to-earnings ratio of -19.85, a PEG ratio of 0.99 and a beta of 1.06. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.58 and a current ratio of 2.00. The firm has a 50 day moving average price of $34.54 and a two-hundred day moving average price of $31.75. Adtalem Global Education has a fifty-two week low of $19.76 and a fifty-two week high of $51.79.
Adtalem Global Education (NYSE:ATGE) last announced its quarterly earnings data on Tuesday, August 18th. The company reported $0.58 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.06). Adtalem Global Education had a negative net margin of 8.11% and a positive return on equity of 9.45%. The business had revenue of $259.73 million during the quarter, compared to analyst estimates of $258.52 million. During the same period in the prior year, the firm earned $0.97 earnings per share. The firm’s revenue for the quarter was down 1.7% compared to the same quarter last year. As a group, research analysts anticipate that Adtalem Global Education will post 2.63 earnings per share for the current year.
Hedge funds have recently added to or reduced their stakes in the company. Parallel Advisors LLC grew its holdings in Adtalem Global Education by 53.8% during the first quarter. Parallel Advisors LLC now owns 1,115 shares of the company’s stock valued at $29,000 after purchasing an additional 390 shares during the period. Signaturefd LLC grew its holdings in Adtalem Global Education by 57.7% during the second quarter. Signaturefd LLC now owns 1,115 shares of the company’s stock valued at $35,000 after purchasing an additional 408 shares during the period. State of Alaska Department of Revenue grew its holdings in Adtalem Global Education by 4.9% during the first quarter. State of Alaska Department of Revenue now owns 9,310 shares of the company’s stock valued at $249,000 after purchasing an additional 436 shares during the period. First Mercantile Trust Co. grew its holdings in Adtalem Global Education by 6.4% during the second quarter. First Mercantile Trust Co. now owns 8,255 shares of the company’s stock valued at $257,000 after purchasing an additional 494 shares during the period. Finally, US Bancorp DE grew its holdings in Adtalem Global Education by 33.7% during the second quarter. US Bancorp DE now owns 2,198 shares of the company’s stock valued at $68,000 after purchasing an additional 554 shares during the period. 98.38% of the stock is owned by institutional investors.
About Adtalem Global Education
Adtalem Global Education Inc provides educational services worldwide. It operates through three segments: Medical and Healthcare, Professional Education, and Technology and Business. The Medical and Healthcare segment operates Chamberlain University, which provides a pre-licensure bachelor's degree in nursing at 21 campus locations and post-licensure bachelor's, master's, and doctorate degree programs in nursing through its online platform; and operates medical and veterinary schools, including American University of the Caribbean School of Medicine, Ross University School of Medicine, and Ross University School of Veterinary Medicine.
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