Adtalem Global Education Inc.’s (ATGE - Free Report) unit, Association of Certified Anti-Money Laundering Specialists (“ACAMS”) announced that it has partnered with the Malta Institute of Management (“MIM”) to deliver the Certified Anti-Money Laundering Specialist (“CAMS”) certification in Malta, a member of the Eurozone.
The flagship certification, which started in July 2019, will allow financial crime prevention professionals to build a culture of compliance in the city.
This collaboration will help Adtalem’s Professional Education segment to boost presence in Malta. The certification will help create a standardized risk-based approach to money laundering threats and financial crime risks.
ACAMS’ Dedication to Empower Students
ACAMS’ dedication to enhance knowledge, skills and expertise in anti-money laundering (“AML”) and financial crime detection, and prevention professionals bodes well. Notably, the CAMS certificate and ACAMS advanced certifications are recognized as industry leading in AML certifications across the world.
In fiscal third-quarter 2019, the Professional Education segment’s revenues grew 14.1% year over year, backed by 3% and 38.1% increase in revenues at Becker and ACAMS, respectively. Moreover, the segment’s operating income increased significantly to $5.1 million from the prior-year figure of $2.4 million.
Coming to price performance, shares of Adtalem have declined 3.8% so far this year against its industry’s 36.8% growth. The company has been recording lower profits over the last few quarters due to certain restructuring charges related to the closing of the Ross University School of Medicine campus in Dominica and real estate consolidations.
Nevertheless, collaborations and strategic initiatives taken up by Adtalem will probably help it to spur growth and regain momentum. Notably, in the fiscal third quarter, the company recorded growth in new student enrollment and total student enrollment of 15.4% and 4.3%, respectively, from a year ago. Notably, the company expects to generate revenue growth of 3-4% in the fiscal fourth quarter.
Zacks Rank & Key Picks
Currently, Adtalem carries a Zacks Rank #4 (Sell). Some better-ranked stocks in the same space include Career Education Corporation (CECO - Free Report) , YogaWorks, Inc. and Strategic Education, Inc. (STRA - Free Report) . While Career Education and YogaWorks sport a Zacks Rank #1 (Strong Buy), Strategic Education carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Career Education, YogaWorks and Strategic Education’s earnings for the current year are expected to grow 11.4%, 17.1%, and 36.2%, respectively.
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