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

Adtalem Global Education (NYSE:ATGEGet Rating) updated its FY 2022 earnings guidance on Thursday. 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.

Several equities research analysts have recently commented on ATGE shares. BMO Capital Markets reduced their target price on Adtalem Global Education from $37.00 to $32.00 in a report on Thursday, February 10th. StockNews.com started coverage on shares of Adtalem Global Education in a report on Thursday, March 31st. They issued a hold rating for the company. Finally, Zacks Investment Research raised 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. Three equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of Hold and a consensus target price of $37.33.

Shares of ATGE opened at $32.62 on Friday. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.94 and a current ratio of 1.94. The firm has a market cap of $1.47 billion, a PE ratio of 5.05, a PEG ratio of 0.67 and a beta of 1.13. The firm’s 50 day moving average price is $30.23 and its 200 day moving average price is $28.73. Adtalem Global Education has a twelve month low of $19.14 and a twelve month high of $40.23.

Adtalem Global Education (NYSE:ATGEGet Rating) last issued its quarterly earnings data on Thursday, May 5th. The company reported $0.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.82 by $0.05. Adtalem Global Education had a net margin of 23.34% and a return on equity of 10.99%. The firm had revenue of $365.60 million during the quarter, compared to analysts’ expectations of $360.34 million. During the same period in the prior year, the company posted $0.72 earnings per share. Adtalem Global Education’s revenue for the quarter was up 30.2% on a year-over-year basis. On average, sell-side analysts anticipate that Adtalem Global Education will post 3.25 earnings per share for the current fiscal year.

In other news, SVP James Raymond Bartholomew sold 2,380 shares of Adtalem Global Education stock in a transaction dated Friday, May 20th. The stock was sold at an average price of $31.65, for a total value of $75,327.00. Following the transaction, the senior vice president now directly owns 2,343 shares in the company, valued at $74,155.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 2.75% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of ATGE. Morgan Stanley lifted its position in Adtalem Global Education by 66.6% in the second quarter. Morgan Stanley now owns 79,200 shares of the company’s stock worth $2,821,000 after purchasing an additional 31,647 shares during the period. Royal Bank of Canada raised its stake in shares of Adtalem Global Education by 61.1% in the 3rd quarter. Royal Bank of Canada now owns 5,665 shares of the company’s stock valued at $214,000 after buying an additional 2,149 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Adtalem Global Education by 76.5% during the 4th quarter. JPMorgan Chase & Co. now owns 82,812 shares of the company’s stock worth $2,448,000 after acquiring an additional 35,895 shares during the period. Invesco Ltd. boosted its position in shares of Adtalem Global Education by 48.3% during the 4th quarter. Invesco Ltd. now owns 287,675 shares of the company’s stock valued at $8,504,000 after acquiring an additional 93,672 shares in the last quarter. Finally, State Street Corp increased its stake in Adtalem Global Education by 3.8% in the fourth quarter. State Street Corp now owns 1,776,404 shares of the company’s stock valued at $52,511,000 after acquiring an additional 64,283 shares during the period. Hedge funds and other institutional investors own 98.59% of the company’s stock.

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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