Apollo Education Group Inc. (NASDAQ: APOL) released its fiscal third-quarter earnings after the markets closed Monday. The company reported $0.53 in earnings per share (EPS) on $681.5 million in revenue, compared to Thomson Reuters consensus estimates of $0.47 in EPS on $698.57 million in revenue. The same period from the previous year had $0.76 in EPS on $799.92 million in revenue.
The company revised its guidance for the 2015 fiscal year. Apollo expects net revenue in the range of $2.60 billion to $2.62 billion and operating income in the range of $190 million to $200 million. There are consensus estimates of $1.09 in EPS on $2.63 billion in revenue.
For the fiscal third quarter, the University of Phoenix New Degreed Enrollment was 29,400 and Degreed Enrollment was 206,900. The same quarter from the previous year had New Degreed Enrollment of 33,900 and Degreed Enrollment of 241,900.
Greg Cappelli, CEO of Apollo, commented on earnings:
At Apollo Education Group, we are building a diversified global network committed to academic excellence and strong student support, as we work to change lives through higher education. In a time of transformation, University of Phoenix, our largest subsidiary, is working to become a more focused, higher retaining and less complex institution. Our commitment across all of our institutions is to deliver world-class experiences and outcomes, connecting students’ education with their career aspirations, and helping employers recruit, retain, and develop a highly engaged and productive workforce.
At the end of the quarter, Apollo’s unrestricted cash and cash equivalents and short-term marketable securities totaled $778.4 million, compared to $1.4 billion as of the end of August, 2014.
Shares of Apollo closed Monday down about 5%, at $15.55 in a 52-week trading range of $15.51 to $34.55. After earnings were released, shares were down 4.3% at $14.87 in the after-hours trading session. The stock has a consensus analyst price target of $21.50.
ALSO READ: New Big Risks in Puerto Rico
Get Ready To Retire (Sponsored)
Start by taking a quick retirement quiz from SmartAsset that will match you with up to 3 financial advisors that serve your area and beyond in 5 minutes, or less.
Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests.
Here’s how it works:
1. Answer SmartAsset advisor match quiz
2. Review your pre-screened matches at your leisure. Check out the advisors’ profiles.
3. Speak with advisors at no cost to you. Have an introductory call on the phone or introduction in person and choose whom to work with in the future
Get started right here.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
