Adtalem Global Education (NYSE:ATGE) Shares Gap Up After Strong Earnings

Shares of Adtalem Global Education Inc. (NYSE:ATGE) gapped up before the market opened on Friday following a better than expected earnings announcement. The stock had previously closed at $52.40, but opened at $56.50. Adtalem Global Education shares last traded at $60.02, with a volume of 297,054 shares traded.

The company reported $1.50 EPS for the quarter, topping analysts’ consensus estimates of $1.14 by $0.36. Adtalem Global Education had a return on equity of 13.86% and a net margin of 7.12%. The firm had revenue of $412.70 million for the quarter, compared to the consensus estimate of $391.68 million. During the same quarter in the prior year, the business earned $1.13 earnings per share. The company’s revenue was up 11.8% compared to the same quarter last year.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on ATGE. StockNews.com downgraded Adtalem Global Education from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, February 7th. Robert W. Baird upped their price target on Adtalem Global Education from $65.00 to $70.00 and gave the stock an “outperform” rating in a report on Friday. Finally, Barrington Research upped their price target on Adtalem Global Education from $65.00 to $70.00 and gave the stock an “outperform” rating in a report on Friday.

Hedge Funds Weigh In On Adtalem Global Education

A number of hedge funds have recently made changes to their positions in the company. Daiwa Securities Group Inc. raised its holdings in shares of Adtalem Global Education by 19.6% during the fourth quarter. Daiwa Securities Group Inc. now owns 1,280 shares of the company’s stock valued at $75,000 after acquiring an additional 210 shares during the last quarter. Blue Trust Inc. grew its position in shares of Adtalem Global Education by 41.4% in the fourth quarter. Blue Trust Inc. now owns 1,042 shares of the company’s stock valued at $61,000 after purchasing an additional 305 shares in the last quarter. UBS Group AG grew its position in shares of Adtalem Global Education by 0.9% in the third quarter. UBS Group AG now owns 64,176 shares of the company’s stock valued at $2,750,000 after purchasing an additional 574 shares in the last quarter. Center for Financial Planning Inc. grew its position in shares of Adtalem Global Education by 50.3% in the fourth quarter. Center for Financial Planning Inc. now owns 1,910 shares of the company’s stock valued at $113,000 after purchasing an additional 639 shares in the last quarter. Finally, Corient Private Wealth LLC grew its position in shares of Adtalem Global Education by 0.7% in the fourth quarter. Corient Private Wealth LLC now owns 100,798 shares of the company’s stock valued at $5,942,000 after purchasing an additional 740 shares in the last quarter. Institutional investors and hedge funds own 98.84% of the company’s stock.

Adtalem Global Education Stock Up 14.7 %

The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.51. The business has a 50-day moving average price of $49.31 and a 200-day moving average price of $52.90. The firm has a market capitalization of $2.35 billion, a PE ratio of 22.59, a price-to-earnings-growth ratio of 0.75 and a beta of 0.92.

About Adtalem Global Education

Adtalem Global Education Inc provides workforce solutions worldwide. It operates through three segments, Chamberlain, Walden, and Medical and Veterinary. The Chamberlain segment offers degree and non-degree programs in the nursing and health professions postsecondary education industry. This segment operates Chamberlain University.