Apollo Education Group, Inc. (NASDAQ: APOL) had a less than favorable performance in Tuesday’s market after it released its fiscal third quarter results Monday night. Investors were displeased with the for-profit educator, but analysts seemed to take a more neutral stance with their ratings but not with their price targets.

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.

In terms of the outlook for the 2015 fiscal year, Apollo expects net revenue in the range of $2.6 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 2015 fiscal year.

At the same time enrollment fell for this quarter compared to the same period last year. The University of Phoenix New Degreed Enrollment was 29,400 and Degreed Enrollment was 206,900 for this period, while last year had New Degreed Enrollment of 33,900 and Degreed Enrollment of 241,900.

A few analysts weighed in on Apollo after the company reported its earnings:

• Deutsche Bank reiterated a Hold rating and lowered its price target to $20 from $22
• BMO Capital Markets reiterated a Buy rating and lowered its price target to $20 from $29
• Merrill Lynch downgraded Apollo to an Underperform rating and lowered its price target to $14 from $20
• Compass Point has a Hold rating and lowered its price target to $14 from $21

Late Tuesday afternoon, shares of Apollo were down 17.8%, at $12.78 within a 52-week trading range of $12.72 to $34.55. The stock has a consensus analyst price target of $21.50.

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