Top Performer for Wednesday

The Schools industry is well-represented on the complete Zacks #1 Rank list today, and Corinthian Colleges, Inc. (COCO - Snapshot Report) is the top performer in the group.

Shares of this post-secondary education company are up more than 5% this afternoon, which also makes COCO one of the better-performing Zacks #1 Ranks overall.

Following a solid fiscal second-quarter performance in early February, analysts boosted earnings expectations over the past month by 15.3% for this fiscal year and 16% for next fiscal year. The past 30 days have seen 6 analysts raise expectations for the former year while 4 analysts have done the same for the latter. No analyst has lowered estimates for either year in this timeframe.

For its fiscal second quarter, COCO reported earnings from continuing operations of 18 cents, which beat the consensus by 20%. The past 4 quarters have amassed an average surprise of approximately 12%. In the year-ago quarter, COCO reported 11 cents.

Net revenue increased by 17.8% to $318.3 million from $270.3 million. Total student starts were up 16.2%.

The schools industry is in a unique position as it has historically performed rather well during difficult economic times. Given the tighter job market, people are looking to improve their skills.

"Although difficult to quantify, current trends indicate that the recession has helped increase marketing leads and student enrollment," stated COCO Chief Jack D. Massimino. "As unemployment rises, more people seek post-secondary education and training."

There are currently 5 companies from the Schools industry on the Zacks #1 Rank list, which are benefiting from the current environment. Along with COCO, they include Apollo Group (APOL - Snapshot Report), Capella Education (CPLA - Analyst Report), Career Education Corp. (CECO - Snapshot Report) and ITT Educational (ESI - Analyst Report).