DeVry, Inc.

DeVry, Inc. (DV - Analyst Report) saw a nice spike in share price after delivering 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%.

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).

Strong Quarterly Results

Shares of DV recently spiked on 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.

Bullish Estimates

Analysts lifted earnings projections for the fiscal year ending June 2009. Current forecasts of $2.30 per share are up from $2.24 in just the past week. For the following year, earnings expectations of $2.88 were increased from $2.82 over the past week.

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

Read the full analyst report on DV