Apollo Group (NASDAQ:APOL) Soars to Record High; Tops Analysts Forecasts

The Phoenix-based Apollo Group Inc’s (NASDAQ:APOL) stock moved up to record high in over 4 months as second-quarter profit and sales surpassed analysts’ forecasts, even as enrollment tumbled.

Apollo Group, the biggest United States for-profit college chain, stock hiked 7.1% to settle at $18.25 in New York and marked the major gain since December 4.

While quarterly sales fell 13% to $834.4 million, they were over the $824.7 million average of forecasted gathered by Bloomberg.

Apollo announced in a statement that net income in three months period fell to $13.5 million or 12 cents per share, from $63.9 million or 51 cents per share in previous year. Profit without few items was 34 cents per share, surpassing analyst’s average forecast of 19 cent per share.

Shifting reader’s focus to broader market, let us consider market performance of other stocks that significantly affect same sector. Career Education Corp. (NASDAQ:CECO) fell -2.69% to settle at $2.53, Corinthian Colleges Inc (NASDAQ:COCO) moved up +2.38% to end at $2.15 while DeVry Inc. (NYSE:DV) dropped -0.65% to finish at $32.34 on Monday.

Apollo Group Inc (NASDAQ:APOL) last session’s volume of 15.71 million shares was surprisingly higher than its average volume of 2.58 million shares. The stock after opening at $18.62 hit high price of $19.63 and then closed at $18.25 by scoring +7.10%.

The liquidity measure in recent quarter results of the company was recorded 1.38 as current ratio and on the other side the debt to equity ratio was 0.10 and long-term debt to equity ratio remained at 0.07. The Company had total cash of $776.01 million at hand and a book value per share as $9.05 in the most recent quarter.

The stock’s price volatility was 4.64% for a week and 3.52% for a month as well as price volatility’s Average True Range for 14 days was 0.70 and its beta remained at 0.36.

APOL generated revenue of $4.14 billion in the previous twelve months and earned $375.18 million. The Company showed a positive 8.99% in the net profit margin as well as in its operating margin which remained at 15.61%. Company’s annual sales growth for the past five years was 9.34%.

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