Adtalem Global Education (NYSE:ATGE) Updates FY 2022 Earnings Guidance

Adtalem Global Education (NYSE:ATGEGet Rating) issued an update on its FY 2022 earnings guidance on Thursday morning. The company provided earnings per share guidance of $3.15-$3.35 for the period, compared to the consensus earnings per share estimate of $2.91. The company issued revenue guidance of $1.35 billion-$1.39 billion.

Shares of NYSE:ATGE opened at $30.74 on Thursday. The stock has a fifty day simple moving average of $28.83 and a two-hundred day simple moving average of $29.10. The stock has a market capitalization of $1.39 billion, a price-to-earnings ratio of 4.76, a PEG ratio of 0.69 and a beta of 1.13. Adtalem Global Education has a 12-month low of $19.14 and a 12-month high of $40.23. 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 (NYSE:ATGEGet Rating) last announced its quarterly earnings data on Thursday, May 5th. The company reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.82 by $0.05. The business had revenue of $365.60 million during the quarter, compared to analysts’ expectations of $360.34 million. Adtalem Global Education had a return on equity of 11.44% and a net margin of 23.34%. The firm’s quarterly revenue was up 30.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.72 earnings per share. As a group, equities research analysts predict that Adtalem Global Education will post 3.25 EPS for the current year.

ATGE has been the subject of several recent analyst reports. StockNews.com initiated coverage on Adtalem Global Education in a research note on Thursday, March 31st. They issued a hold rating for the company. Zacks Investment Research upgraded Adtalem Global Education from a strong sell rating to a hold rating and set a $30.00 price target for the company in a research note on Tuesday, April 12th. Finally, BMO Capital Markets decreased their price target on Adtalem Global Education from $37.00 to $32.00 in a research note on Thursday, February 10th. Three equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of Hold and a consensus price target of $37.33.

In other news, Director Sharon O’keefe acquired 1,250 shares of the business’s stock in a transaction that occurred on Wednesday, February 23rd. The stock was bought at an average price of $20.63 per share, with a total value of $25,787.50. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Michael W. Malafronte acquired 40,500 shares of the business’s stock in a transaction that occurred on Monday, February 14th. The stock was purchased at an average cost of $23.58 per share, with a total value of $954,990.00. The disclosure for this purchase can be found here. Insiders purchased 42,250 shares of company stock valued at $991,103 in the last ninety days. 2.75% of the stock is currently owned by corporate insiders.

A number of large investors have recently added to or reduced their stakes in the business. Thrivent Financial for Lutherans grew its holdings in Adtalem Global Education by 1.4% during the fourth quarter. Thrivent Financial for Lutherans now owns 40,499 shares of the company’s stock valued at $1,197,000 after purchasing an additional 549 shares during the period. US Bancorp DE grew its holdings in Adtalem Global Education by 76.7% during the first quarter. US Bancorp DE now owns 1,786 shares of the company’s stock valued at $53,000 after purchasing an additional 775 shares during the period. California State Teachers Retirement System grew its holdings in Adtalem Global Education by 2.6% during the fourth quarter. California State Teachers Retirement System now owns 66,922 shares of the company’s stock valued at $1,978,000 after purchasing an additional 1,725 shares during the period. Royal Bank of Canada grew its holdings in Adtalem Global Education by 61.1% during the third quarter. Royal Bank of Canada now owns 5,665 shares of the company’s stock valued at $214,000 after purchasing an additional 2,149 shares during the period. Finally, Credit Suisse AG boosted its stake in shares of Adtalem Global Education by 9.5% in the fourth quarter. Credit Suisse AG now owns 45,530 shares of the company’s stock worth $1,345,000 after acquiring an additional 3,951 shares during the period. 98.59% of the stock is owned by institutional investors and hedge funds.

Adtalem Global Education Company Profile (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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