This education provider just topped earnings estimates by 11 cents, and Piper Jaffray upgraded its shares to “outperform”. The recent pullback provides an opportunity to buy in.
DeVry Education Group
from Shortex
DeVry Education (DV)
TODAY’S PRICE: $45.03
52-week High: 47.73 52-week Low: 27.04
Market Cap: $2.81B, EPS $1.00, P/E: 44.34
DeVry is a global provider of education services for profit. The company witnessed enrollment increase in Brazil and nursing schools. FY/Q3 earnings of $55.5 million or 87c/shr vs. consensus of 75c/shr. Slower decline in enrollment: a plus for accelerating cost cuts. Breakout through 200-DMA @ (35-37) with heavy volume: to challenge secondary resistance @ (47-49).
Buying Range: 41-45
Near Term Objective: 53
Intermediate Objective: 62
Stop Loss: 35
Joseph Parnes, Shortex Market Letter, www.shortex.com, 800-877-6555, April 30, 2014