DeVry, Inc.

DeVry, Inc. (DV - Analyst Report), which recently announced fall enrollment increases, continues to see higher earnings estimates from analysts. Wall Street is calling for earnings of $2.22 per share for the year ending June 2009. Three months ago, the earnings projection was at $2.17.

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).

Enrollment is Rising

DeVry recently announced that new undergraduate fall enrollment increased 19.7% to 15,811 students, versus 13,204 in the previous year. Total undergraduate student enrollment jumped16.9% to 52,146 students from 44,594 in fall 2007.

Rewarding Shareholders with Income

DeVry recently approved a 33% dividend increase to 16 cents per share on an annual basis. Payable semi-annually, the company noted that the next dividend of 8 cents will be paid out on January 9 to common stockholders of record as of December 12. The higher income comes on the heels of a previous dividend boost of 20%.

"This increase reflects the company's continued solid financial results, liquidity and long-term growth potential," said Daniel Hamburger, president and CEO of DeVry Inc. "We remain committed to maximizing shareholder value through our focus on academic quality and the continued execution of our strategic growth plan."

Strong Quarterly Results

The company reported fiscal first-quarter earnings of 48 cents per share, exceeding the consensus estimate by 9% and improving on the year-prior total. Revenues jumped 21.3% year-over-year to $303.7 million.

The company stated that its strong results demonstrate that it is increasing enrollment through improved marketing and recruiting as well as diversifying its offerings with the acquisition of U.S. Education, the parent organization of Apollo College and Western Career College. The purchase was completed in mid-September for $290 million in cash.

Higher Estimates

Wall Street is calling for earnings of $2.22 per share for the year ending June 2009. Three months ago, the earnings projection was at $2.17.