INVESTOR PLACE: ESI Stock: Don’t Buy Into ITT’s Knee-Jerk Rally
Career College Central Summary:
ITT Educational Services, Inc. (NYSE:ESI), an operator of technology-focused for-profit colleges, released its audited annual report for fiscal 2014 on Friday, and Wall Street couldn’t have been happier.
ESI stock went absolutely bonkers after the results, and at one point shares were up as much as 90% in intraday trading. While the company beat on both earnings and revenue, what really got shareholders excited was an indication that ITT Educational Services won’t need to operate with “further oversight” from the Department of Education.
It’s a dramatic change in momentum for ESI stock; before today’s incredible session shares were off 87% in the last year alone.
Let’s take a gander at the numbers and see what’s responsible for today’s incredible pop.
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