Adtalem Global Education (NYSE:ATGE) Releases Fiscal 2023 Revenue Guidance

Adtalem Global Education (NYSE: ATGE – Get a rating) released an update to its fiscal 2023 earnings guidance Friday morning. The company provided EPS guidance of $3.95 to $4.20 for the period, compared to the consensus estimate of EPS of $4.26. The company released a revenue forecast of $1.38 billion to $1.45 billion, compared to a consensus revenue estimate of $1.46 billion.

Adtalem Global Education Price Performance

Adtalem Global Education stock opened at $38.03 on Friday. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt ratio of 0.56. The company has a market capitalization of $1.72 billion, a PE ratio of 5.89, a P/E/G ratio of 0.63 and a beta of 1.02. Adtalem Global Education has a 12 month minimum of $19.14 and a 12 month maximum of $41.40. The stock has a 50-day moving average price of $38.33 and a two-hundred-day moving average price of $32.21.

Adtalem Global Education (NYSE: ATGE – Get a rating) last released its quarterly results on Thursday, August 11. The company reported earnings per share of $1.31 for the quarter, beating the consensus estimate of $1.25 by $0.06. The company posted revenue of $361.23 million in the quarter, compared to $348.90 million expected by analysts. Adtalem Global Education achieved a return on equity of 12.38% and a net margin of 21.97%. The company’s quarterly revenue increased 61.6% year over year. In the same quarter a year earlier, the company posted earnings per share of $0.70. Analysts expect Adtalem Global Education to post EPS of 4.08 for the current year.

Analyst upgrades and downgrades

A number of research analysts have recently released reports on the stock. Barrington Research raised its price target on Adtalem Global Education shares from $40.00 to $46.00 and gave the company an outperform rating in a Friday, August 12 research report. Robert W. Baird raised his price target on Adtalem Global Education shares from $31.00 to $40.00 in a Friday, August 12 research report.

Insider activity

Separately, director William V. Krehbiel purchased 10,000 shares in a trade dated Tuesday, June 14. The stock was purchased at an average price of $31.67 per share, for a total transaction of $316,700.00. Following the completion of the acquisition, the administrator now directly owns 10,000 shares of the company, valued at approximately $316,700. The purchase was disclosed in a document filed with the Securities & Exchange Commission, accessible via this hyperlink. 2.75% of the shares are currently held by company insiders.

Hedge funds weigh on Adtalem Global Education

Several institutional investors have recently increased or reduced their stake in the stock. Captrust Financial Advisors increased its position in Adtalem Global Education by 60.8% during the second quarter. Captrust Financial Advisors now owns 4,634 shares of the company worth $167,000 after purchasing an additional 1,753 shares during the period. Walleye Capital LLC increased its position in Adtalem Global Education by 26.7% during the second quarter. Walleye Capital LLC now owns 8,591 shares of the company worth $309,000 after purchasing an additional 1,808 shares during the period. Goldman Sachs Group Inc. increased its position in Adtalem Global Education by 1,102.1% during the second quarter. Goldman Sachs Group Inc. now owns 922,481 shares of the company worth $33,182,000 after purchasing an additional 845,743 shares during the period. Centiva Capital LP bought a new position in Adtalem Global Education during the second quarter worth approximately $216,000. Finally, Jane Street Group LLC bought a new position in Adtalem Global Education during the second quarter worth approximately $2,228,000.

Adtalem Global Education Company Profile

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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.

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