NEW YORK (TheStreet) -- Career Education Corp (CECO) - Get Career Education Corporation Report is soaring on Thursday after posting fourth-quarter earnings and sales which came in better than expected.
By early afternoon, shares had added 14.9% to $7.66.
The education provider posted a net loss of 46 cents a share for the three months to December, a narrower loss than 96 cents a share in the year-ago quarter. Analysts surveyed by Thomson Reuters had anticipated a net loss of 52 cents a share.
Revenue of $247.09 million was $5.7 million higher than consensus.
"We continue to make solid operational progress in the turnaround of the Company," said CEO Scott W. Steffey in a statement. "We had new student enrollment growth in the last part of the fourth quarter at CTU, Design & Technology, and Health Education and the early results in 2014 are encouraging."
TheStreet Ratings team rates CAREER EDUCATION CORP as a Sell with a ratings score of D. The team has this to say about their recommendation:
"We rate CAREER EDUCATION CORP (CECO) a SELL. This is driven by several weaknesses, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its unimpressive growth in net income, weak operating cash flow and feeble growth in its earnings per share."
- You can view the full analysis from the report here: CECO Ratings Report