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TheStreet Open House

5 For-Profit Education Stocks With Upside

Stock quotes in this article: APOL, LOPE, BPI, LRN, DV

3. Bridgepoint Education (BPI) is a provider of postsecondary education services. The company's wholly owned subsidiaries, Ashford University and University of the Rockies, are regionally accredited academic institutions that offer associate, bachelor's, master's and doctoral programs in the disciplines of business, education, psychology, social sciences and health sciences. These institutions deliver programs online and on traditional campuses.

Of the 13 analysts covering the stock, 77% recommend a buy and 23% suggest a hold. The stock's average 12-month price target is $28.25, or 25.1% higher than the current price, according to a Bloomberg consensus.

For the third quarter of 2011, Bridgepoint reported revenue of $242.7 million, up 27% from $190.9 million in the same quarter last year. Net income grew 21% to $43.8 million, or 78 cents per share, from $36.1 million, or 61 cents, for the same period a year ago.

Enrollments at the institution rose to 90,597 as of Sep. 30, 2011, increasing 17.3% from 77,179 as of Sep. 2010. New student enrollments for the third quarter of 2011 were approximately 22,000, compared to 24,000 in the same quarter last year. For the nine-month period ended Sep. 2011, the institution had new student enrollments of approximately 68,600, compared with 66,750 for the same period in 2010, an increase of 2.8%.

The company expects total enrollments of 83,000 to 85,000 at the end of Dec. 2011. Revenue for the fiscal year 2011 is seen in the range of $920 million to $926 million. Net income is pegged between $168.5 million and $170.3 million, or $2.95 to $2.98 per share.

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