Deutsche Bank (NYSE:DB) sees the lengthy process concerning Gainful Employment as a negative for Apollo Education (NASDAQ:APOL), which could stretch out to Spring before it is finalized.
"The only hope for a major change to GE would be a compromise between the DoE and Republicans, but that is a low probability event, in our view," said Deutsche.
Deutsche lowered their full year 2011 and full year 2012 EPS estimates to $4.26 for both of them from $4.61 and $5.02. They are also slashing their price target by $5 to $60 to go inline with their latest estimates of lower enrollment. They are decreasing their February quarter new enrollment estimate from 26% to 37%, May from 21% to 34%, and their August from 18% to 26%.
Apollo Group closed Tuesday at $39.15, dropping $0.83, or 2.08 percent.
Wednesday, January 5, 2011
Apollo Education (NASDAQ:APOL) Negatively Affected by Gainful Employment (GE) Says Deutsche (NYSE:DB)
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1 comment:
At what point does the consumer begin to take responsibility for their actions. At www.defaultprevention.com we deal with students all the time that want to blame everything on the school they attended. Sooner or later the consumer must realize their actions have accountability. Look at the drop out rate of freshman at traditional public universities, it's a big number. If you look at how much those freshman dropouts cost the taxpayer and then compare it to the defaults at for-profits I think you can start to compare apples to apples.
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