Adtalem Global Education (NYSE:ATGE – Get Rating) released its quarterly earnings data on Thursday. The company reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.05, MarketWatch Earnings reports. The company had revenue of $365.60 million for the quarter, compared to analyst estimates of $360.34 million. Adtalem Global Education had a net margin of 23.34% and a return on equity of 11.44%. Adtalem Global Education’s revenue for the quarter was up 30.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.72 EPS. Adtalem Global Education updated its FY22 guidance to $3.15-$3.35 EPS.
Shares of ATGE traded up $1.10 during mid-day trading on Monday, reaching $31.97. The company’s stock had a trading volume of 16,694 shares, compared to its average volume of 474,637. The stock has a market cap of $1.59 billion, a PE ratio of 4.78, a P/E/G ratio of 0.69 and a beta of 1.13. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 1.24. Adtalem Global Education has a 52 week low of $19.14 and a 52 week high of $40.23. The company’s fifty day moving average price is $28.31 and its two-hundred day moving average price is $29.11.
In related news, Chairman Lisa W. Wardell bought 4,020 shares of the stock in a transaction on Thursday, February 10th. The shares were acquired at an average price of $24.48 per share, for a total transaction of $98,409.60. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Sharon O’keefe bought 1,250 shares of the stock in a transaction on Wednesday, February 23rd. The shares were bought at an average price of $20.63 per share, for a total transaction of $25,787.50. The disclosure for this purchase can be found here. Insiders have purchased a total of 50,357 shares of company stock valued at $1,189,521 over the last quarter. 2.75% of the stock is currently owned by company insiders.
Institutional investors and hedge funds have recently made changes to their positions in the business. Marshall Wace North America L.P. purchased a new position in shares of Adtalem Global Education during the 1st quarter worth about $56,000. Morgan Stanley boosted its holdings in shares of Adtalem Global Education by 66.6% in the 2nd quarter. Morgan Stanley now owns 79,200 shares of the company’s stock valued at $2,821,000 after acquiring an additional 31,647 shares during the last quarter. Raymond James & Associates lifted its stake in shares of Adtalem Global Education by 53.8% in the 3rd quarter. Raymond James & Associates now owns 19,952 shares of the company’s stock valued at $754,000 after purchasing an additional 6,978 shares during the period. PNC Financial Services Group Inc. lifted its stake in shares of Adtalem Global Education by 4.9% in the 3rd quarter. PNC Financial Services Group Inc. now owns 13,388 shares of the company’s stock valued at $507,000 after purchasing an additional 626 shares during the period. Finally, Russell Investments Group Ltd. raised its position in Adtalem Global Education by 18.7% during the third quarter. Russell Investments Group Ltd. now owns 109,103 shares of the company’s stock worth $4,128,000 after acquiring an additional 17,174 shares during the period. 98.59% of the stock is owned by institutional investors and hedge funds.
A number of research analysts have issued reports on ATGE shares. Zacks Investment Research upgraded shares of Adtalem Global Education from a “strong sell” rating to a “hold” rating and set a $30.00 target price on the stock in a research report on Tuesday, April 12th. StockNews.com started coverage on shares of Adtalem Global Education in a research note on Thursday, March 31st. They issued a “hold” rating for the company. Finally, BMO Capital Markets decreased their price target on shares of Adtalem Global Education from $37.00 to $32.00 in a research report on Thursday, February 10th. Three research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $37.33.
About Adtalem Global Education (Get 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 postsecondary education industry. 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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