Adtalem Global Education (NYSE:ATGE) Announces Earnings, Beating Estimates of $0.05 per EPS


Adtalem Global Education (NYSE:ATGEGet a rating) released its results on Thursday. The company reported earnings per share (EPS) of $0.87 for the quarter, beating consensus analyst estimates of $0.82 by $0.05, MarketWatch Earnings reports. Adtalem Global Education recorded a negative net margin of 0.51% and a positive return on equity of 10.93%. The company posted revenue of $365.60 million for the quarter, versus analyst estimates of $360.34 million. During the same period last year, the company posted EPS of $0.72. Adtalem Global Education revenue increased 30.2% compared to the same quarter last year. Adtalem Global Education updated its FY22 guidance to $3.15 – $3.35 EPS.

NYSE-ATGE traded at $2.65 during midday trading on Friday, reaching $30.87. The company had a trading volume of 1,469,846 shares, compared to an average volume of 463,053. The company has a fifty-day simple moving average of $28.31 and a two-hundred-day simple moving average of 29, $21. The stock has a market capitalization of $1.54 billion, a price/earnings ratio of 4.78, a P/E/G ratio of 0.64 and a beta of 1.13. Adtalem Global Education has a fifty-two week minimum of $19.14 and a fifty-two week maximum of $40.23. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt ratio of 1.24.

A number of research analysts have recently released reports on the stock. StockNews.com began covering Adtalem Global Education stocks in a research note on Thursday, March 31. They issued a “holding” rating on the stock. Zacks Investment Research upgraded shares of Adtalem Global Education from a “strong sell” rating to a “hold” rating and set a price target of $30.00 on the stock in a Tuesday research report April 12. Finally, BMO Capital Markets cut its price target on Adtalem Global Education shares from $37.00 to $32.00 in a Thursday, February 10 research report. Three research analysts gave the stock a hold rating and one gave the company’s stock a buy rating. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $37.33.

In other Adtalem Global Education news, Director Sharon O’keefe acquired 1,250 shares of Adtalem Global Education in a transaction dated Wednesday, February 23. The stock was purchased at an average cost of $20.63 per share, with a total value of $25,787.50. The purchase was disclosed in a document filed with the SEC, accessible via the SEC website. Additionally, director Kenneth J. Phelan purchased 4,087 shares of the company in a transaction that took place on Thursday, February 10. The shares were purchased at an average cost of $24.47 per share, with a total value of $100,008.89. Disclosure of this purchase can be found here. Insiders purchased a total of 50,357 shares of the company valued at $1,189,521 over the past ninety days. 2.75% of the shares are held by insiders.

A number of hedge funds have recently changed their positions in ATGE. Royal Bank of Canada increased its stake in Adtalem Global Education by 61.1% during the third quarter. Royal Bank of Canada now owns 5,665 shares of the company valued at $214,000 after buying 2,149 more shares in the last quarter. Squarepoint Ops LLC purchased a new position in Adtalem Global Education during Q4, valued at approximately $642,000. Allianz Asset Management GmbH increased its stake in Adtalem Global Education by 240.5% during the 4th quarter. Allianz Asset Management GmbH now owns 26,455 shares of the company valued at $782,000 after purchasing an additional 18,686 shares in the last quarter. Thrivent Financial for Lutherans increased its stake in Adtalem Global Education by 1.4% during Q4. Thrivent Financial for Lutherans now owns 40,499 shares of the company valued at $1,197,000 after purchasing an additional 549 shares in the last quarter. Finally, Credit Suisse AG increased its stake in Adtalem Global Education by 9.5% in the 4th quarter. Credit Suisse AG now owns 45,530 shares of the company valued at $1,345,000 after buying 3,951 additional shares in the last quarter. 98.59% of the shares are held by hedge funds and other institutional investors.

Adtalem Global Education Company Profile (Get a rating)

Adtalem Global Education Inc provides workforce solutions worldwide. It operates through two segments, Medical and Healthcare; and Financial Services. The Medical and Healthcare segment offers degree and non-degree programs in the medical and healthcare post-secondary education sector. This segment operates Chamberlain University, American University of the Caribbean School of Medicine, Ross University School of Medicine and Ross University School of Veterinary Medicine.

Further reading

Revenue history for Adtalem Global Education (NYSE:ATGE)



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