NEW YORK (TheStreet) -- Shares of Apollo Education Group Inc. (APOL) are up 2.24% to $29.94 after the company reported adjusted net income for the third quarter of 76 cents per share, beating the average estimate of 66 cents per share of analysts surveyed by Thompson Reuters.
The owner of University of Phoenix said enrollment in the quarter totaled 241,900, a 16% decline but ahead of the company's forecast of 230,000 by August.
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The company reported net revenue for the third quarter of $799.9 million, down from $946.8 million a year ago.
Separately, TheStreet Ratings team rates APOLLO EDUCATION GROUP INC as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:
"We rate APOLLO EDUCATION GROUP INC (APOL) a HOLD. The primary factors that have impacted our rating are mixed, some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its solid stock price performance, largely solid financial position with reasonable debt levels by most measures and reasonable valuation levels. However, as a counter to these strengths, we find that we feel that the company's cash flow from its operations has been weak overall."