The Wall Street Transcript publishes Education Stocks Issue.NEW YORK--(BUSINESS WIRE)--April 27, 1999--
Leading analysts examine the Education Industry in the just-published edition of The Wall Street Transcript, a vital review for investors and companies.
1) An in-depth roundtable forum featuring four prominent analysts; Matt Ankrum of Janus, Gregory Cappelli of Credit Suisse First Boston Credit Suisse First Boston was originally the trading name of the Financière Crédit Suisse-First Boston, a London-based 50-50 investment banking joint venture formed in 1978 between the First Boston Corporation and Credit Suisse. , Gerald Odening of Hambrecht & Quist, and Scott Soffen of Legg Mason Wood Walker. The panel examines growth factors, charter schools, child care, post-secondary, new areas, overseas operations, marketing, competition, investment concerns, management performance and stock recommendations. Soffen states, "We continue to believe that the post-secondary proprietary education companies like the DeVRYs (NYSE NYSE
See: New York Stock Exchange :DV) and the Apollos (Nasdaq:APOL APOL Asia Pacific Online
APOL Alternate Person on Line ) and ITTs (NYSE:ESI) will continue to be the strongest performers. We're beginning to see many new private companies, that are involved with the distance education aspect of post-secondary education evolve, which is bringing together the power of the Internet and higher education."
Other topics addressed by this distinguished panel: distance education vs. classroom instruction, impact of the Internet, K-12 sector, corporate sponsorship, and the future outlook for the sector.
The panel offers several investment recommendations, including: Argosy (Nasdaq:ARGY), Whitman Education (AMEX AMEX
See: American Stock Exchange :WIX) and Quest Education (Nasdaq:QEDC QEDC Queens Economic Development Corporation ), about which Soffen declares, "Quest's earnings should grow at over 20%. Earnings estimates have been rising, yet the stock has declined. The stock is now selling at under nine times calendarized 1999 earnings."
2) An "Off-the-Record" survey of analysts and industry experts, who praise and/or criticize 13 Education companies and managements, includes several recommendations and a few admonishments. Applause from a money manger for Greg Priest, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of CBT Group (Nasdaq:CBTSY), because "He's a very smart individual who's a good visionary and a good executor."
Accolades from an investment advisor for management at National Computer Systems (Nasdaq:NLCS NLCS National League Championship Series (baseball)
NLCS North Lawrence Community Schools (various locations, USA)
NLCS National Landscape Conservation System ), "Russell A. Gullotti, Chairman, President and CEO is `One of the best' and National Computer Systems has one of the best management teams out there. The company had close to 15 straight quarters of meeting or exceeding estimates. Russell Gullotti came to the company in late 1994, and took a very faltering stock and has just done outstanding things with it. He made all the right moves and has a lot of respect with his lieutenants, and they just execute, period."
But another industry management flunks with a money manager who states, "He's taking the company in a lot of different directions, just because there's growth in those areas, but some are not sure that he has a total understanding of the growth in every one of those areas."
3) Education Stocks - Robert Craig and Jerry Herman of EVEREN Securities investigate recent developments with the DOE, Title IV funding, the Tax Relief Act of 1997 and the reauthorization of the Higher Education Act The Higher Education Act may refer to an Act of either the Congress of the United States or of the Parliament of the United Kingdom.
BFAM Bioinformatics for the Analysis of Mammalian Genomes
BFAM Budget Formulation & Appropriation Model ), would receive a management fee associated with operating a facility for a corporation."
4) Education Stocks - Keith Gay of Thomas Weisel Partners Thomas Weisel Partners Group, Inc. (NASDAQ: TWPG), often shortened to just TWP or TWeisel, is a U.S. middle-market and growth focused investment banking firm based in San Francisco, California. . Gay examines the regulatory outlook, student loan programs, distance learning, and child care legislation. He forecasts, "We think that there is going to be a marriage of ".com and .edu" in 1999 with several exciting IPOs coming up."
5) Strayer Education, Inc. (Nasdaq:STRA) - An interview with CEO Ron Bailey covering industry trends, competition, and growth areas. Bailey states, "By successfully utilizing the cost efficiencies of the Internet we are able to generate substantial cost savings, not only to deliver education but also to provide quality services for our students. We have moved our bookstores, registration, and many other services online, which should allow us to operate efficiently and provide our students with superior services."
Other companies mentioned in this special 41-page Education Industry section include:
Caliber (Nasdaq:CLBR CLBR Costa Linda Beach Resort (Aruba) ), Career Education (Nasdaq:CECO), Childtime Learning Center (Nasdaq:CTIM), Computer Learning (Nasdaq:CLCX), Corinthian Colleges (Nasdaq:COCO), Education Management (Nasdaq:EDMC), Edutrek (Nasdaq:EDUT), GP Strategies (NYSE:GPX GPX - Early system on UNIVAC II. Listed in CACM 2(5):16 (May 1959). ), KinderCare (OTC OTC
See over-the-counter market (OTC). BB:KDCR), Learning Tree (Nasdaq:LTRE), National Computer (Nasdaq:NLCS), Provant (Nasdaq:POVT), and Sylvan (Nasdaq:SLVN).
For information on how to obtain a copy of this issue, see http://www.twst.com/info.htm or call (212) 952 - 7433. The Wall Street Transcript does not endorse the views of any interviewee nor does it make stock recommendations.
The Wall Street Transcript is a premier weekly investment publication serving serious long-term investors for over 35 years. The Transcript publishes industry roundtables and interviews with Wall Street analysts, money managers, and company CEOs, and is read by top money managers, brokers, and individual investors.