Strayer Education (STRA) saw its stock boom on Wednesday following the company’s quarterly earnings report.
The university’s revenues decreased 15% this quarter to $116.5 million and income from operations decreased 13% to $25.9 million. Strayer Education’s net income was 14% lower than the previous quarter and its diluted earnings per share were $1.40, a 12% decrease compared to last quarter.
The university’s enrollment numbers have decreased 10% for the 2014 spring term compared to the 2013 spring term. Most analysts have raised their price target on the stock with a consensus price target of $42.25 and a “Hold” rating.
STRA stock is up over 18% Wednesday.
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