$CECO, $COCO
ANALYZING EDUCATION STOCKS
LOOKING AT CECO, COCO, ESI, APOL
TWO EDUCATION STOCKS THAT CURRENTLY LOOK ATTRACTIVE TO ADD TO PORTFOLIO ARE CECO AND COCO, EACH WITH MARKET CAPITALIZATIONS OF 180-200MM EACH.
WE WERE POUNDING THE TABLE ON ESI WHEN IT WAS IN THE 12 DOLLAR RANGE, AND WITHIN A FEW MONTHS WENT TO AROUND 26 PER SHARE.
TODAY, CECO AND COCO REPRESENT LOW RISK ON THE DOWNSIDE AND APPEAR TO BE CONSOLIDATING AND FORMING REVERSAL OF TREND.
THE FUNDAMENTALS FOR BOTH APPEAR TO SUGGEST THAT THEY ARE UNDERVALUED WHEN YOU LOOK AT THEIR NET TANGIBLE BOOK VALUES AND OTHER KEY STATISTICS. WE WILL JUST EXAMINE THE TWO SNAPSHOTS AND COMPARE THE CHARTS OF THE OTHER 2.
COMMENTARY & NOTES
THIS WEEK WAS PRETTY TOUGH. THE 25K MODEL PORTFOLIO™ CAME BACK IN TO AROUND $120K FROM $130K AT THE START. SOME KEY ADDITIONS INCLUDE SOME SYNTHETIC POSITIONS USING OPTIONS AND SOME REPOSITIONING AND ROTATION OF CAPITAL.
FEDERAL RESERVE DECISIONS AND OTHER POLICY MAKING VARIABLES THAT CAUSE VOLATILITY IN THE MARKETS ARE TO BE VIEWED AS GOOD THINGS. THE MARKET IS LIKE A VOTING MACHINE, NOT A WEIGHING MACHINE.
“PRICE IS WHAT YOU PAY, VALUE IS WHAT YOU GET”
THE 25K MODEL PORTFOLIO™
KEY POSITION ADDITIONS & CHANGES:
Featured: /financial-markets/LinkedIn: http://www.linkedin.com/pub/john-chalekson/52/357/653/
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EDUCATION STOCKS
CECO: INITIATE
Key Statistics |
Get Key Statistics for: |
|
Data provided by Capital IQ, except where noted.
Market Cap (intraday)5: |
180.35M |
Enterprise Value (Jun 22, 2013)3: |
-98.59M |
Trailing P/E (ttm, intraday): |
N/A |
Forward P/E (fye Dec 31, 2014)1: |
N/A |
PEG Ratio (5 yr expected)1: |
-0.14 |
Price/Sales (ttm): |
0.13 |
Price/Book (mrq): |
0.30 |
Enterprise Value/Revenue (ttm)3: |
-0.07 |
Enterprise Value/EBITDA (ttm)6: |
4.33 |
|
Fiscal Year |
Fiscal Year Ends: |
Dec 30 |
Most Recent Quarter (mrq): |
Mar 31, 2013 |
|
Profitability |
Profit Margin (ttm): |
-15.02% |
Operating Margin (ttm): |
-7.40% |
|
Management Effectiveness |
Return on Assets (ttm): |
-5.69% |
Return on Equity (ttm): |
-27.19% |
|
Income Statement |
Revenue (ttm): |
1.40B |
Revenue Per Share (ttm): |
21.07 |
Qtrly Revenue Growth (yoy): |
-21.10% |
Gross Profit (ttm): |
918.10M |
EBITDA (ttm)6: |
-22.76M |
Net Income Avl to Common (ttm): |
-191.06M |
Diluted EPS (ttm): |
-3.17 |
Qtrly Earnings Growth (yoy): |
N/A |
|
Balance Sheet |
Total Cash (mrq): |
287.77M |
Total Cash Per Share (mrq): |
4.29 |
Total Debt (mrq): |
103.00K |
Total Debt/Equity (mrq): |
0.02 |
Current Ratio (mrq): |
1.77 |
Book Value Per Share (mrq): |
8.90 |
|
Cash Flow Statement |
Operating Cash Flow (ttm): |
-48.35M |
Levered Free Cash Flow (ttm): |
-9.92M |
|
|
|
Stock Price History |
Beta: |
2.31 |
52-Week Change3: |
-54.79% |
S&P500 52-Week Change3: |
21.22% |
52-Week High (Jul 2, 2012)3: |
7.05 |
52-Week Low (Apr 22, 2013)3: |
2.03 |
50-Day Moving Average3: |
2.86 |
200-Day Moving Average3: |
2.98 |
|
Share Statistics |
Avg Vol (3 month)3: |
841,652 |
Avg Vol (10 day)3: |
1,045,540 |
Shares Outstanding5: |
67.05M |
Float: |
56.98M |
% Held by Insiders1: |
0.77% |
% Held by Institutions1: |
84.30% |
Shares Short (as of May 31, 2013)3: |
4.14M |
Short Ratio (as of May 31, 2013)3: |
4.50 |
Short % of Float (as of May 31, 2013)3: |
8.60% |
Shares Short (prior month)3: |
4.04M |
|
Dividends & Splits |
Forward Annual Dividend Rate4: |
N/A |
Forward Annual Dividend Yield4: |
N/A |
Trailing Annual Dividend Yield3: |
N/A |
Trailing Annual Dividend Yield3: |
N/A |
5 Year Average Dividend Yield4: |
N/A |
Payout Ratio4: |
N/A |
Dividend Date3: |
N/A |
Ex-Dividend Date4: |
N/A |
Last Split Factor (new per old)2: |
2:1 |
Last Split Date3: |
Aug 25, 2003 |
|
|
See Key Statistics Help for definitions of terms used. |
Abbreviation Guide: K = Thousands; M = Millions; B = Billions mrq = Most Recent Quarter (as of Mar 31, 2013) ttm = Trailing Twelve Months (as of Mar 31, 2013) yoy = Year Over Year (as of Mar 31, 2013) lfy = Last Fiscal Year (as of Dec 31, 2012) fye = Fiscal Year Ending 1 Data provided by Thomson Reuters 2 Data provided by EDGAR Online 3 Data derived from multiple sources or calculated by Yahoo! Finance 4 Data provided by Morningstar, Inc. 5 Shares outstanding is taken from the most recently filed quarterly or annual report and Market Cap is calculated using shares outstanding. 6 EBITDA is calculated by Capital IQ using methodology that may differ from that used by a company in its reporting
Currency in USD. |
|
COCO: INITIATE
Key Statistics |
Get Key Statistics for: |
|
Data provided by Capital IQ, except where noted.
Market Cap (intraday)5: |
186.15M |
Enterprise Value (Jun 22, 2013)3: |
171.20M |
Trailing P/E (ttm, intraday): |
N/A |
Forward P/E (fye Jun 30, 2014)1: |
9.39 |
PEG Ratio (5 yr expected)1: |
0.70 |
Price/Sales (ttm): |
0.11 |
Price/Book (mrq): |
0.33 |
Enterprise Value/Revenue (ttm)3: |
0.11 |
Enterprise Value/EBITDA (ttm)6: |
1.47 |
|
Fiscal Year |
Fiscal Year Ends: |
Jun 29 |
Most Recent Quarter (mrq): |
Mar 31, 2013 |
|
Profitability |
Profit Margin (ttm): |
-0.37% |
Operating Margin (ttm): |
3.57% |
|
Management Effectiveness |
Return on Assets (ttm): |
3.55% |
Return on Equity (ttm): |
3.19% |
|
Income Statement |
Revenue (ttm): |
1.63B |
Revenue Per Share (ttm): |
19.04 |
Qtrly Revenue Growth (yoy): |
-1.90% |
Gross Profit (ttm): |
631.24M |
EBITDA (ttm)6: |
116.37M |
Net Income Avl to Common (ttm): |
18.18M |
Diluted EPS (ttm): |
-0.07 |
Qtrly Earnings Growth (yoy): |
N/A |
|
Balance Sheet |
Total Cash (mrq): |
43.90M |
Total Cash Per Share (mrq): |
0.51 |
Total Debt (mrq): |
30.67M |
Total Debt/Equity (mrq): |
5.37 |
Current Ratio (mrq): |
0.92 |
Book Value Per Share (mrq): |
6.63 |
|
Cash Flow Statement |
Operating Cash Flow (ttm): |
85.89M |
Levered Free Cash Flow (ttm): |
68.77M |
|
|
|
Stock Price History |
Beta: |
3.66 |
52-Week Change3: |
-22.30% |
S&P500 52-Week Change3: |
21.22% |
52-Week High (Jul 2, 2012)3: |
3.44 |
52-Week Low (Aug 2, 2012)3: |
1.74 |
50-Day Moving Average3: |
2.39 |
200-Day Moving Average3: |
2.30 |
|
Share Statistics |
Avg Vol (3 month)3: |
1,233,920 |
Avg Vol (10 day)3: |
789,750 |
Shares Outstanding5: |
86.18M |
Float: |
78.97M |
% Held by Insiders1: |
9.18% |
% Held by Institutions1: |
85.80% |
Shares Short (as of May 31, 2013)3: |
20.74M |
Short Ratio (as of May 31, 2013)3: |
12.10 |
Short % of Float (as of May 31, 2013)3: |
24.40% |
Shares Short (prior month)3: |
21.89M |
|
Dividends & Splits |
Forward Annual Dividend Rate4: |
N/A |
Forward Annual Dividend Yield4: |
N/A |
Trailing Annual Dividend Yield3: |
N/A |
Trailing Annual Dividend Yield3: |
N/A |
5 Year Average Dividend Yield4: |
N/A |
Payout Ratio4: |
N/A |
Dividend Date3: |
N/A |
Ex-Dividend Date4: |
N/A |
Last Split Factor (new per old)2: |
2:1 |
Last Split Date3: |
Mar 24, 2004 |
|
|
See Key Statistics Help for definitions of terms used. |
Abbreviation Guide: K = Thousands; M = Millions; B = Billions mrq = Most Recent Quarter (as of Mar 31, 2013) ttm = Trailing Twelve Months (as of Mar 31, 2013) yoy = Year Over Year (as of Mar 31, 2013) lfy = Last Fiscal Year (as of Jun 30, 2012) fye = Fiscal Year Ending 1 Data provided by Thomson Reuters 2 Data provided by EDGAR Online 3 Data derived from multiple sources or calculated by Yahoo! Finance 4 Data provided by Morningstar, Inc. 5 Shares outstanding is taken from the most recently filed quarterly or annual report and Market Cap is calculated using shares outstanding. 6 EBITDA is calculated by Capital IQ using methodology that may differ from that used by a company in its reporting
Currency in USD. |
|
APOL: AVOID FOR NOW.
ESI: AVOID FOR NOW.
***
‘EFFICIENTLY ALLOCATING INTELLECTUAL CAPITAL’
***
THE 25K MODEL PORTFOLIO™ NOV. 2012 – JUNE 21 2013
Symbol |
Description |
Qty |
Price |
Value |
Action |
AAPL |
APPLE INC |
-1 |
$413.50 |
($413.50) |
Trade | Chain |
AMZN |
AMAZON COM |
-1 |
$273.36 |
($273.36) |
Trade | Chain |
BBG |
BILL BARRETT CORPORATION |
1 |
$21.15 |
$21.15 |
Trade | Chain |
BBRY |
RESEARCH IN MOTION LTD |
1,300 |
$13.775 |
$17,907.50 |
Trade | Chain |
BBRY Jul13 14 Call |
Research In Motion Ltd |
10 |
$1.05 |
$1,050.00 |
Trade | Chain |
BBRY Jul13 15 Call |
Research In Motion Ltd |
10 |
$0.71 |
$710.00 |
Trade | Chain |
BLK |
BLACKROCK INC |
-1 |
$248.67 |
($248.67) |
Trade | Chain |
CLVS |
CLOVIS ONCOLOGY INC |
-300 |
$65.05 |
($19,515.00) |
Trade | Chain |
CRAY |
CRAY INC |
2,000 |
$19.61 |
$39,220.00 |
Trade | Chain |
CRAY Jul13 17.5 Call |
Cray Inc |
10 |
$2.20 |
$2,200.00 |
Trade | Chain |
CRM |
SALESFORCE COM INC |
-100 |
$38.30 |
($3,830.00) |
Trade | Chain |
DELL |
DELL INC |
1 |
$13.35 |
$13.35 |
Trade | Chain |
DRYS |
DRYSHIPS INC |
200 |
$1.79 |
$358.00 |
Trade | Chain |
ESI |
ITT EDUCATIONAL SERVICES INC |
1 |
$23.54 |
$23.54 |
Trade | Chain |
ESRX |
EXPRESS SCRIPTS HOLDING COMPANY |
-100 |
$61.961 |
($6,196.10) |
Trade | Chain |
FB |
FACEBOOK INC |
-1 |
$24.53 |
($24.53) |
Trade | Chain |
FSLR |
FIRST SOLAR INC |
100 |
$41.37 |
$4,137.00 |
Trade | Chain |
GES |
GUESS INC |
1 |
$30.66 |
$30.66 |
Trade | Chain |
HES |
HESS CORPORATION |
1 |
$64.02 |
$64.02 |
Trade | Chain |
HLF |
HERBALIFE LTD |
-1 |
$45.44 |
($45.44) |
Trade | Chain |
KERX |
KERYX BIOPHARMACEUTICALS INC |
-100 |
$7.66 |
($766.00) |
Trade | Chain |
LULU |
LULULEMON ATHLETICA INC |
-100 |
$61.90 |
($6,190.00) |
Trade | Chain |
NAV |
NAVISTAR INTERNATIONAL CORP |
-400 |
$26.99 |
($10,796.00) |
Trade | Chain |
NFLX |
NETFLIX INC |
-100 |
$216.90 |
($21,690.00) |
Trade | Chain |
NOK |
NOKIA CORP |
100 |
$3.93 |
$393.00 |
Trade | Chain |
ODP |
OFFICE DEPOT INC |
100 |
$3.98 |
$398.00 |
Trade | Chain |
PAAS |
PAN AMERICAN SILVER CORP |
1 |
$11.12 |
$11.12 |
Trade | Chain |
PNX |
PHOENIX COMPANIES INC NEW |
100 |
$43.49 |
$4,349.00 |
Trade | Chain |
REGN |
REGENERON PHARMACEUTICALS INC |
-50 |
$215.47 |
($10,773.50) |
Trade | Chain |
RSH |
RADIOSHACK CORP |
2,500 |
$3.17 |
$7,925.00 |
Trade | Chain |
RSH Aug13 3 Call |
RadioShack Corp |
60 |
$0.45 |
$2,700.00 |
Trade | Chain |
RSOL |
REAL GOODS SOLAR INC |
-100 |
$2.30 |
($230.00) |
Trade | Chain |
SINA |
SINA COM |
1 |
$54.48 |
$54.48 |
Trade | Chain |
SSRI |
SILVER STANDARD RESOURCES INC |
4,000 |
$6.33 |
$25,320.00 |
Trade | Chain |
SSRI Jul13 6 Call |
Silver Standard Resources Inc |
50 |
$0.60 |
$3,000.00 |
Trade | Chain |
SSRI Jul13 7 Call |
Silver Standard Resources Inc |
35 |
$0.20 |
$700.00 |
Trade | Chain |
SSRI Jul13 8 Call |
Silver Standard Resources Inc |
65 |
$0.05 |
$325.00 |
Trade | Chain |
SWC |
STILLWATER MINING |
1,000 |
$10.45 |
$10,450.00 |
Trade | Chain |
TNP |
TSAKOS ENERGY NAVIGATION LTD |
1 |
$4.37 |
$4.37 |
Trade | Chain |
WTW |
WEIGHT WATCHERS |
-150 |
$43.29 |
($6,493.50) |
Trade | Chain |
X |
US STEEL CORP |
500 |
$17.10 |
$8,550.00 |
Trade | Chain |
X Jul13 17 Call |
US Steel Corp |
20 |
$0.82 |
$1,640.00 |
Trade | Chain |
YHOO |
YAHOO INC |
1 |
$25.19 |
$25.19 |
Trade | Chain |
|