DeVry Inc. (DV) recently declared a semi-annual dividend of 8 cents per share, noting that it is payable July 9 to common stockholders of record as of June 16. The company offers an industry-leading dividend yield of 0.4%.

Company Description

DeVry is the holding company for DeVry University, Ross University, Chamberlain College of Nursing and Becker Professional Review.

DeVry University provides rigorous academic preparation for careers in technology, business and management and delivers undergraduate, graduate and life long learning programs.

Ross University provides educational programs for general medical and veterinary practice.

Chamberlain College of Nursing provides quality and innovative undergraduate health care education programs.

Becker Professional Review provides preparatory coursework for professional certification exams such as the certified public accountant (CPA), certified management accountant (CMA) and chartered financial analyst (CFA).

Solid Income

The company recently declared a semi-annual dividend of 8 cents per share, noting that it is payable July 9 to common stockholders of record as of June 16. The company offers an industry-leading dividend yield of 0.4%.

“By keeping our focus on our students and delivering high quality academic programs, the financial results tend to take care of themselves,” said Daniel Hamburger, president and chief executive officer of DeVry Inc. “We will continue to execute our strategic plan to grow and diversify our educational offerings and we remain committed to driving shareholder value.”

Bullish Estimates

Analysts lifted earnings projections for the fiscal year ending June 2009. Current forecasts of $2.31 per share are up from $2.25 over the past month. For the following year, earnings expectations of $2.90 were increased from $2.82 over the past month.

The most accurate estimates are higher at $2.32 for fiscal 2009 and $2.92 for next year.

Strong Quarterly Results

Shares of DV spiked after the company delivered strong results for the fiscal third quarter. Earnings per share of 70 cents came in well ahead of last year’s 53 cents and topped the consensus estimate by 4.5%. Revenues jumped 35% year-over-year to $391.9 million.

The company continued to post strong undergraduate enrollment growth as new spring enrollments widened by 15% to 14,288, versus last year’s 12,410. Total student enrollment grew 19% to 53,259 students from 44,814 in spring 2008.

Zacks Investment Research
View original at: Zacks.com News Feed

Similar Posts: DeVry | DV | Education & Training Services | Services

RSS feeds: DeVry | DV | Education & Training Services | Services |

Other Posts by vitalstocks | RSS Feed for this author