Adtalem Global Education (NYSE:ATGE) Shares Gap Up Following Better-Than-Expected Earnings

Adtalem Global Education Inc. (NYSE:ATGE) shares gapped up before the market opened on Friday after the company announced better than expected quarterly earnings. 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 trading hands.

The company reported $1.50 earnings per share for the quarter, topping analysts’ consensus estimates of $1.14 by $0.36. Adtalem Global Education had a net margin of 7.93% and a return on equity of 13.05%. The business had revenue of $412.70 million for the quarter, compared to analyst estimates of $391.68 million. During the same quarter in the prior year, the firm posted $1.13 EPS. Adtalem Global Education’s revenue was up 11.8% on a year-over-year basis.

Wall Street Analyst Weigh In

ATGE has been the subject of several research analyst reports. Barrington Research lifted their price objective on Adtalem Global Education from $65.00 to $70.00 and gave the company an “outperform” rating in a research note on Friday. StockNews.com cut shares of Adtalem Global Education from a “strong-buy” rating to a “buy” rating in a report on Wednesday, February 7th. Finally, Robert W. Baird boosted their price target on Adtalem Global Education from $65.00 to $70.00 and gave the company an “outperform” rating in a report on Friday.

Hedge Funds Weigh In On Adtalem Global Education

Hedge funds and other institutional investors have recently modified their holdings of the stock. Blue Trust Inc. raised its holdings in Adtalem Global Education by 41.4% in the fourth quarter. Blue Trust Inc. now owns 1,042 shares of the company’s stock worth $61,000 after purchasing an additional 305 shares in the last quarter. Daiwa Securities Group Inc. increased its stake in shares of Adtalem Global Education by 19.6% in the 4th quarter. Daiwa Securities Group Inc. now owns 1,280 shares of the company’s stock worth $75,000 after acquiring an additional 210 shares in the last quarter. Skandinaviska Enskilda Banken AB publ purchased a new position in Adtalem Global Education during the 3rd quarter valued at about $56,000. TFO Wealth Partners LLC boosted its stake in Adtalem Global Education by 62,266.7% during the fourth quarter. TFO Wealth Partners LLC now owns 1,871 shares of the company’s stock worth $1,100,000 after acquiring an additional 1,868 shares in the last quarter. Finally, Center for Financial Planning Inc. grew its holdings in 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 worth $113,000 after purchasing an additional 639 shares during the period. Hedge funds and other institutional investors own 98.84% of the company’s stock.

Adtalem Global Education Stock Up 14.7 %

The company has a debt-to-equity ratio of 0.51, a current ratio of 0.95 and a quick ratio of 0.95. The stock’s 50 day simple moving average is $49.04 and its two-hundred day simple moving average is $52.80. The firm has a market cap of $2.35 billion, a P/E ratio of 22.01, a P/E/G ratio of 0.73 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.