ITT Educational Services, Inc. Reports 2015 Fourth Quarter and Full Year Results and Announces Restatement
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Piper Jaffray Remains Sidelined as Cost Cuts Drive ITT Educational Services' (ESI) EPS Beat
March 15, 2016 7:42 AM EDTPiper Jaffray reiterated a Neutral rating on ITT Educational Services (NYSE: ESI), and raised the price target to $4.75 (from $3.50), following the company's 4Q earnings report. 4Q Revenue of $202.4M was ahead of $201.5M estimates, driven by slightly better-than-anticipated new enrollments. EPS of $0.44, beat $0.09 estimates... More
ITT Educational Services (ESI) Posts Q4 EPS of $0.44; Will Restate Certain Financials
March 14, 2016 4:44 PM EDTITT Educational Services (NYSE: ESI) reported Q4 EPS of $0.44, $0.26 better than the analyst estimate of $0.18. Revenue for the quarter came in at $202.4 million versus the consensus estimate of $203.3 million.
Based on various assumptions, including the historical and projected performance and collection of the student loans held by the PEAKS Trust and the CUSO, the company reported that its current estimate of the payments it may have to make under the PEAKS guarantee and the CUSO risk sharing agreement (the "CUSO RSA"), in the aggregate, are approximately:
$27.7 million in 2016;
$13.1 million in 2017;
$13.4 million... More
