Zacks Research downgraded shares of Phoenix Education Partners (NYSE:PXED – Free Report) from a hold rating to a strong sell rating in a research note issued to investors on Thursday morning,Zacks reports.
PXED has been the subject of several other research reports. Barrington Research lowered shares of Phoenix Education Partners from an “outperform” rating to a “market perform” rating in a report on Wednesday. Morgan Stanley lowered Phoenix Education Partners from an “overweight” rating to an “equal weight” rating and set a $28.00 price objective for the company. in a research report on Wednesday. BMO Capital Markets decreased their price target on Phoenix Education Partners from $36.00 to $33.00 and set an “outperform” rating on the stock in a research note on Monday, October 5th. Weiss Ratings cut Phoenix Education Partners from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Thursday, October 8th. Finally, Jefferies Financial Group upgraded shares of Phoenix Education Partners to a “strong-buy” rating in a report on Wednesday, September 23rd. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, Phoenix Education Partners has an average rating of “Hold” and an average price target of $31.67.
View Our Latest Research Report on Phoenix Education Partners
Phoenix Education Partners Trading Down 8.6%
Shares of NYSE:PXED traded down $1.85 during trading on Thursday, reaching $19.66. 226,743 shares of the company were exchanged, compared to its average volume of 97,603. Phoenix Education Partners has a 12-month low of $19.55 and a 12-month high of $35.90. The firm has a market capitalization of $708.60 million and a PE ratio of 8.58. The business’s fifty day simple moving average is $25.53 and its 200-day simple moving average is $28.70. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.91 and a quick ratio of 1.92.
Phoenix Education Partners (NYSE:PXED – Get Free Report) last announced its earnings results on Tuesday, November 3rd. The company reported $1.07 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.07. The business had revenue of $260.68 million for the quarter. Phoenix Education Partners had a return on equity of 60.06% and a net margin of 8.18%. On average, research analysts anticipate that Phoenix Education Partners will post 3.94 EPS for the current year.
Phoenix Education Partners Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 27th. Stockholders of record on Friday, November 13th will be given a $0.23 dividend. This is an increase from Phoenix Education Partners’s previous quarterly dividend of $0.21. This represents a $0.92 annualized dividend and a dividend yield of 4.7%. The ex-dividend date is Friday, November 13th. Phoenix Education Partners’s dividend payout ratio (DPR) is currently 36.68%.
Insider Activity
In other Phoenix Education Partners news, insider John Woods sold 19,453 shares of the stock in a transaction on Friday, October 9th. The stock was sold at an average price of $25.89, for a total transaction of $503,638.17. Following the transaction, the insider owned 62,682 shares of the company’s stock, valued at $1,622,836.98. This represents a 23.68% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 20,703 shares of company stock worth $534,904 over the last quarter. Corporate insiders own 5.00% of the company’s stock.
Hedge Funds Weigh In On Phoenix Education Partners
A number of large investors have recently modified their holdings of PXED. BlackRock Inc. purchased a new stake in shares of Phoenix Education Partners during the 2nd quarter valued at about $12,620,000. Wellington Management Group LLP raised its holdings in shares of Phoenix Education Partners by 48.3% during the second quarter. Wellington Management Group LLP now owns 743,112 shares of the company’s stock worth $24,411,000 after purchasing an additional 241,997 shares during the period. Heartland Advisors Inc. acquired a new position in Phoenix Education Partners during the 2nd quarter valued at approximately $2,398,000. Bastion Asset Management Inc. acquired a new stake in shares of Phoenix Education Partners in the 1st quarter worth about $2,085,000. Finally, Curated Wealth Partners LLC acquired a new position in shares of Phoenix Education Partners during the third quarter worth approximately $1,653,000.
About Phoenix Education Partners
Phoenix Education Partners, Inc is a higher education company focused on serving working adults and other nontraditional students. Through the University of Phoenix, its principal operating institution, the company provides career-oriented undergraduate and graduate degree programs, professional certificates, and other educational offerings.
The University of Phoenix primarily delivers instruction through online learning, with programs designed to offer flexible scheduling for students balancing education with employment and other responsibilities.
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