Phoenix Education Partners (NYSE:PXED) Cut to Hold at Zacks Research

Zacks Research cut shares of Phoenix Education Partners (NYSE:PXED) from a strong-buy rating to a hold rating in a research report report published on Monday morning,Zacks.com reports.

A number of other analysts have also recently commented on the stock. B. Riley cut their target price on shares of Phoenix Education Partners from $60.00 to $54.00 and set a “buy” rating for the company in a research note on Friday, January 9th. Morgan Stanley increased their target price on Phoenix Education Partners from $45.00 to $46.00 and gave the company an “overweight” rating in a report on Wednesday, January 14th. Wall Street Zen lowered Phoenix Education Partners from a “buy” rating to a “hold” rating in a research note on Sunday, January 11th. BMO Capital Markets set a $39.00 price target on Phoenix Education Partners in a research report on Wednesday, January 14th. Finally, Barrington Research began coverage on Phoenix Education Partners in a research note on Thursday, December 4th. They issued an “outperform” rating and a $45.00 price objective for the company. Three equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $44.00.

Phoenix Education Partners Trading Down 1.5%

Shares of PXED stock opened at $29.16 on Monday. The stock has a market capitalization of $1.04 billion and a P/E ratio of 12.05. The business’s 50 day simple moving average is $31.93. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.22. Phoenix Education Partners has a 12-month low of $23.52 and a 12-month high of $47.08.

Phoenix Education Partners (NYSE:PXED) last announced its earnings results on Tuesday, January 13th. The company reported $1.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.27 by $0.11. The business had revenue of $262.03 million for the quarter, compared to analysts’ expectations of $257.56 million. The company’s revenue for the quarter was up 2.9% on a year-over-year basis.

Phoenix Education Partners Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 18th. Shareholders of record on Wednesday, January 28th will be issued a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 2.9%. The ex-dividend date is Wednesday, January 28th. Phoenix Education Partners’s dividend payout ratio is presently 34.71%.

Institutional Investors Weigh In On Phoenix Education Partners

A number of hedge funds have recently modified their holdings of the company. Strs Ohio acquired a new position in Phoenix Education Partners in the 4th quarter valued at about $27,000. Harbor Advisors LLC acquired a new position in Phoenix Education Partners in the fourth quarter valued at approximately $303,000. UBS Group AG purchased a new position in Phoenix Education Partners in the fourth quarter worth approximately $2,618,000. First Eagle Investment Management LLC purchased a new position in Phoenix Education Partners in the fourth quarter worth approximately $5,459,000. Finally, Massachusetts Financial Services Co. MA acquired a new stake in Phoenix Education Partners during the fourth quarter worth $21,681,000.

About Phoenix Education Partners

Our Mission To provide access to higher education opportunities that enable students to develop the knowledge and skills necessary to achieve their professional goals, improve the performance of their organizations and provide leadership and service to their communities. We are a mission-driven organization operating at the forefront of the rapidly evolving post-secondary education market. As one of the largest online education providers and a pioneer in our field, we benefit from the dynamic interplay between technological innovation, education, employment and economic trends.