Adtalem Global Education (NYSE:ATGE – Get Rating) updated its FY 2023 earnings guidance on Friday. The company provided earnings per share guidance of $3.95-$4.20 for the period, compared to the consensus earnings per share estimate of $4.26. The company issued revenue guidance of $1.38 billion-$1.45 billion, compared to the consensus revenue estimate of $1.46 billion.
Analyst Upgrades and Downgrades
A number of research firms have recently weighed in on ATGE. Barrington Research lifted their price objective on Adtalem Global Education from $40.00 to $46.00 and gave the company an outperform rating in a research report on Friday, August 12th. Robert W. Baird lifted their price target on shares of Adtalem Global Education from $31.00 to $40.00 in a report on Friday, August 12th.
Get Adtalem Global Education alerts:Adtalem Global Education Stock Performance
Shares of NYSE:ATGE opened at $36.90 on Friday. The firm has a fifty day simple moving average of $38.33 and a two-hundred day simple moving average of $32.21. Adtalem Global Education has a 52 week low of $19.14 and a 52 week high of $41.40. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.56. The stock has a market capitalization of $1.67 billion, a P/E ratio of 5.89, a PEG ratio of 0.63 and a beta of 1.02.
Adtalem Global Education (NYSE:ATGE – Get Rating) last announced its earnings results on Thursday, August 11th. The company reported $1.31 EPS for the quarter, topping analysts' consensus estimates of $1.25 by $0.06. The firm had revenue of $361.23 million during the quarter, compared to analysts' expectations of $348.90 million. Adtalem Global Education had a return on equity of 12.38% and a net margin of 21.97%. The company's quarterly revenue was up 61.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.70 EPS. On average, analysts expect that Adtalem Global Education will post 4.08 earnings per share for the current fiscal year.Insider Buying and Selling
In other Adtalem Global Education news, Director William V. Krehbiel bought 10,000 shares of the firm's stock in a transaction dated Tuesday, June 14th. The stock was acquired at an average cost of $31.67 per share, for a total transaction of $316,700.00. Following the completion of the transaction, the director now owns 10,000 shares in the company, valued at $316,700. The acquisition was disclosed in a document filed with the SEC, which is available through this link. 2.75% of the stock is owned by corporate insiders.
Hedge Funds Weigh In On Adtalem Global Education
A number of hedge funds and other institutional investors have recently made changes to their positions in the company. US Bancorp DE raised its stake in Adtalem Global Education by 76.7% in the first quarter. US Bancorp DE now owns 1,786 shares of the company's stock worth $53,000 after buying an additional 775 shares in the last quarter. Captrust Financial Advisors lifted its stake in shares of Adtalem Global Education by 210.5% during the 1st quarter. Captrust Financial Advisors now owns 2,881 shares of the company's stock worth $86,000 after purchasing an additional 1,953 shares during the last quarter. Quantbot Technologies LP bought a new stake in Adtalem Global Education during the first quarter valued at about $101,000. Walleye Capital LLC bought a new position in Adtalem Global Education in the first quarter worth about $202,000. Finally, Centiva Capital LP purchased a new stake in shares of Adtalem Global Education during the second quarter valued at about $216,000.
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 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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