Corinthian Colleges Inc. Third Quarter Earnings Sneak Peek
Corinthian Colleges, Inc. (NASDAQ:COCO) will unveil its latest earnings on Thursday, May 3, 2012. Corinthian Colleges is a post-secondary education company in North America. The company’s mission is to prepare students for careers in demand or for advancement in their chosen field. .
Corinthian Colleges, Inc. Earnings Preview Cheat Sheet
Wall St. Earnings Expectations: The average estimate of analysts is for net income of 17 cents per share, a decline of 19% from the company’s actual earnings for the same quarter a year ago. During the past three months, the average estimate has moved up from 13 cents. Between one and three months ago, the average estimate moved up. It has been unchanged at 17 cents during the last month. Analysts are projecting profit to rise by 17.9% compared to last year’s 32 cents.
Past Earnings Performance: The company topped estimates last quarter after missing forecasts the quarter prior. In the second quarter, it reported profit of 4 cents per share against a mean estimate of net income of one cent per share. In the first quarter, it missed forecasts by 2 cents.
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Wall St. Revenue Expectations: Analysts are projecting a decline of 6.3% in revenue from the year-earlier quarter to $433.3 million.
Analyst Ratings: Analysts seem relatively indifferent about Corinthian Colleges with eight of 10 analysts surveyed maintaining a hold rating.
A Look Back: In the second quarter, the company swung to a profit of $1.8 million (2 cents a share) from a loss of $163.7 million ($1.94) a year earlier, beating analyst estimates. Revenue fell 13.9% to $415.5 million from $482.8 million.
On the top line, the company is hoping to use this earnings announcement to snap a string of four-straight quarters of revenue decreases. Revenue fell 3.3% in the third quarter of the last fiscal year, 12.6% in fourth quarter of the last fiscal year and 17.5% in the first quarter and then fell again in the second quarter.
Stock Price Performance: Between March 1, 2012 and April 27, 2012, the stock price had fallen 66 cents (-14.5%), from $4.56 to $3.90. The stock price saw one of its best stretches over the last year between October 28, 2011 and November 8, 2011, when shares rose for eight straight days, increasing 46% (+86 cents) over that span. It saw one of its worst periods between July 26, 2011 and August 8, 2011 when shares fell for 10 straight days, dropping 39.4% (-$1.85) over that span.
(Company fundamentals by Xignite Financials. Earnings estimates provided by Zacks)
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