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American Public's (APEI) Hondros to Open a Campus in Akron

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American Public Education, Inc.’s (APEI - Free Report) subsidiary Hondros College of Nursing (HCN) recently announced that it will open a new campus in Akron, OH. This would help make up for the scarcity of nurses across Ohio.

The new batch will start the Practical Nursing (PN) Diploma program in April 2021 at the 755 White Pond Drive campus.

Purpose of the Program

The state of Ohio along with the entire nation is facing a shortage in nursing and the same is forecasted for a minimum of the next eight years. The Bureau of Labor Statistics anticipates more than 175,000 registered nursing (RN) job openings each year through 2029. Per Ohio Governor's Office of Workforce Transformation, RNs and licensed practical and vocational nurses (LPNs) together will provide more than 12,182 openings, as of Jan 11, 2021.

Now, the campus in Akron will mark the 7th campus location for HCN and will enroll PN students across the city. The college has a few more campuses in Columbus, Cleveland, Cincinnati, Dayton and Toledo, Ohio, and Indianapolis, IN.

With respect to the latest opening, Harry Wilkins, chief commercial CEO of HCN, stated, “By opening our seventh campus location, Hondros College of Nursing is expanding its ability to educate new nurses on the front lines and serve in these important roles in our healthcare system.”

Share Performance 

Shares of American Public Education have gained 11.9% in a year, compared with the industry’s 3.7% growth. The company has been benefiting from increased demand for online courses and nursing programs.

Notably, during the third quarter, HCN revenues rose 42.5% year over year to $9.5 million on higher enrolments. Total student enrolment at HCN increased 38% to 1,950, while new student enrolment rose 88% from the prior-year quarter to 649. HCN's, new and total enrolment increased 34% year over year in the fourth quarter of 2020. For the fourth quarter of 2020, the company expects consolidated revenue growth between 10% and 14% year over year, with increases at both American Public Education and HCN segments.

Zacks Rank

American Public Education — which shares space with Adtalem Global Education Inc. (ATGE - Free Report) , Afya Limited (AFYA - Free Report) and Bright Horizons Family Solutions Inc. (BFAM - Free Report) — currently carries a Zacks Rank #4 (Sell).

You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Adtalem Global Education’s fiscal 2021 earnings are expected to grow 28.1% and Afya has an expected earnings growth rate of 44.6% for 2021. Also, Bright Horizons Family has an impressive earnings growth rate of 196.4% for 2021.

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