Adtalem Global Education (NYSE:ATGE) Updates Fiscal 2022 Revenue Guidance

Adtalem Global Education (NYSE: ATGE – Get a rating) released an update to its fiscal 2022 earnings guidance Thursday morning. The company provided earnings guidance of $3.15 to $3.35 per share for the period, compared to the consensus earnings per share of $2.91. The company released revenue forecasts of $1.35 billion to $1.39 billion.

ATGE shares opened at $31.88 on Thursday. The company has a quick ratio of 1.94, a current ratio of 1.94 and a debt ratio of 0.82. The company’s 50-day moving average price is $30.11 and its 200-day moving average price is $28.78. The stock has a market capitalization of $1.44 billion, a PE ratio of 4.93, a P/E/G ratio of 0.66 and a beta of 1.13. Adtalem Global Education has a twelve month minimum of $19.14 and a twelve month maximum of $40.23.

Adtalem Global Education (NYSE: ATGE – Get a rating) last released its quarterly earnings data on Thursday, May 5. The company reported earnings per share of $0.87 for the quarter, beating the consensus estimate of $0.82 by $0.05. The company posted revenue of $365.60 million for the quarter, compared to $360.34 million expected by analysts. Adtalem Global Education achieved a net margin of 23.34% and a return on equity of 10.99%. Adtalem Global Education revenue for the quarter increased 30.2% compared to the same quarter last year. In the same period a year earlier, the company had earned earnings per share of $0.72. Analysts expect Adtalem Global Education to post earnings per share of 3.25 for the current fiscal year.

Several research analysts have recently weighed in on the stock. 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. StockNews.com began covering Adtalem Global Education stocks in a research report on Thursday, March 31. They issued a hold note on the stock. To finish, 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, April 12 research report. Three research analysts rated the stock with a hold rating and one assigned the company a buy rating. According to MarketBeat.com, Adtalem Global Education currently has a consensus rating of Hold and an average target price of $37.33.

Separately, SVP James Raymond Bartholomew sold 2,380 shares in a trade that took place on Friday, May 20. The stock was sold at an average price of $31.65, for a total transaction of $75,327.00. Following the completion of the sale, the senior vice president now owns 2,343 shares of the company, valued at $74,155.95. The transaction was disclosed in a legal filing with the SEC, accessible via the SEC website. 2.75% of the shares are held by insiders of the company.

Several large investors have recently increased or reduced their stake in the company. BlackRock Inc. increased its stake in shares of Adtalem Global Education by 3.6% during the fourth quarter. BlackRock Inc. now owns 7,898,398 shares of the company valued at $233,476,000 after purchasing an additional 272,312 shares during the period. Ariel Investments LLC increased its stake in Adtalem Global Education by 12.2% in the first quarter. Ariel Investments LLC now owns 5,641,162 shares of the company worth $167,599,000 after acquiring an additional 611,402 shares during the period. Vanguard Group Inc. increased its stake in Adtalem Global Education by 2.2% in the first quarter. Vanguard Group Inc. now owns 5,303,942 shares of the company worth $157,581,000 after acquiring an additional 115,954 shares during the period. State Street Corp increased its stake in Adtalem Global Education by 3.8% in the fourth quarter. State Street Corp now owns 1,776,404 shares of the company worth $52,511,000 after acquiring an additional 64,283 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in Adtalem Global Education by 15.2% during the first quarter. Charles Schwab Investment Management Inc. now owns 766,756 shares of the company valued at $22,781,000 after purchasing an additional 100,977 shares during the period. 98.59% of the shares are held by hedge funds and other institutional investors.

About Adtalem Global Education (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.

Featured articles

This instant alert was powered by MarketBeat’s narrative science technology and financial data to provide readers with the fastest and most accurate reports. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send questions or comments about this story to [email protected]

Should you invest $1,000 in Adtalem Global Education right now?

Before you consider Adtalem Global Education, you’ll want to hear this.

MarketBeat tracks Wall Street’s top-rated, top-performing research analysts daily and the stocks they recommend to their clients. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the market takes hold…and Adtalem Global Education was not on the list.

Although Adtalem Global Education currently has a “Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.

See the 5 actions here