Market Overview

UPDATE: Oppenheimer Downgrades DeVry to Perform on Negative Pre-Announcement

Share:
Related DV
Earnings Scheduled For February 5, 2015
Opinion: Here Are 10 Trends (And 11 Investments) To Watch In 2015
Students rally against diminished for-profit college degrees (Seeking Alpha)

Oppenheimer reduced its rating on DeVry (NYSE: DV) from Outperform to Perform and removed its price target of $39.

Oppenheimer noted, "DV pre-reported F4Q12 EPS of $0.43-0.46 vs. our/consensus of $0.78/$0.79. Revenue is expected to be $500-510M, below our/consensus of $512M/$519M. Reasons for the EPS shortfall include: 1) revenue shortfall due to increased DeVry University scholarships; 2) higher than anticipated inquiry generation and instructional costs; and 3) an accrual associated with DeVry University's administration of its Federal Perkins loan program (now resolved). …[W]e're significantly reducing FY12/FY13E EPS, and downgrade our rating to Perform from Outperform, on incremental revenue/margin concerns."

DeVry closed at $27.56 on Monday.

Latest Ratings for DV

DateFirmActionFromTo
Feb 2015Deutsche BankMaintainsBuy
Oct 2014Stifel NicolausMaintainsBuy
Oct 2014Deutsche BankUpgradesHoldBuy

View More Analyst Ratings for DV
View the Latest Analyst Ratings

Posted-In: OppenheimerAnalyst Color Downgrades Intraday Update Analyst Ratings

 

Related Articles (DV)

Around the Web, We're Loving...