Top Performer for Monday: ITT Educational (ESI)

Shares of ITT Educational Services, Inc. (ESI - Analyst Report) are moving higher today by about 7%, which is enough to secure a spot on the Zacks #1 Rank Top Performers List.

Earnings estimates have moved sharply higher since this postsecondary education company raised its 2009 earnings guidance late last month. During its first-quarter report, ESI announced a new outlook of $7 to $7.25 for this year, compared to the prior range between $6.50 and $6.75.

As a result, earnings estimates for the year have jumped 7.3% in the past 30 days, with 11 of 14 covering analysts revising higher. Expectations for next year increased 6.8% in that time to $8.18, which is approximately 15% better than this year's estimate of $7.10.

Late April saw ESI announce a strong first-quarter performance, as its industry continues to be a rare beneficiary of this recessionary environment. Earnings per share of $1.59 beat the consensus by nearly 12%, while also making a solid year-over-year advance from $1.08.

Revenue moved higher by 23% to $288 million from $235 million. New student enrollment came in at 18,935 students, which was up almost 37% from last year's 13,844. Total student enrollment was up 21% to 65,620.

There are currently 3 companies from the Schools industry on the Zacks #1 Rank List, which includes 228 stocks today. Besides ESI, the 2 other companies are Devry (DV - Analyst Report), which is up more than 6% today, and Lincoln Educational Services (LINC - Snapshot Report), which is up about 1.6%.

ESI is moving with a volume of about 1.2 million shares today, which is a little below its average of 1.5 million.