ITT Educational Services (ESI) is Downgraded by Piper Jaffray to Underweight, Lowers Price Target to $ 0

ITT Educational Services (ESI) was Downgraded by Piper Jaffray to ” Underweight” while Lowering the Price Target of the company shares to $ 0 from a previous price target of $3 . Earlier the firm had a rating of “Neutral ” on the company shares. Piper Jaffray advised their investors in a research report released on Aug 26, 2016.

On the company’s financial health, ITT Educational Services reported $0.18 EPS for the quarter, beating the analyst consensus estimate by $ 0.22 according to the earnings call on Jul 28, 2016. Analyst had a consensus of $-0.04. The company had revenue of $176.30 million for the quarter, compared to analysts expectations of $179.05 million. The company’s revenue was down -17.7 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.03 EPS.

ITT Educational Services opened for trading at $2.16 and hit $2.24 on the upside on Tuesday, eventually ending the session at $2.18, with a gain of 0.46% or 0.01 points. The heightened volatility saw the trading volume jump to 1,33,450 shares. Company has a market cap of $52 M.

ITT Educational Services Inc. is a provider of postsecondary degree programs in the United States. The Company had approximately 144 college locations in 39 states and offered one or more of its online programs to students who are located in all 50 states. The Company offers master bachelor and associate degree programs to around 53000 students and short-term information technology and business learning solutions for career advancers and other professionals. The Company designs its education programs after consultation with employers and other constituents to allow graduates prepare for careers in different fields involving their areas of study. The Company provides career-oriented education programs under the ITT Technical Institute name and the Daniel Webster College name. The Company’s education programs also include general education courses in the humanities composition mathematics the sciences and the social sciences.

ITT Educational Services

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