Edison Investment Research - Zovio (0BD) Update: Increasing confidence

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Edison Investment Research

Update: Increasing confidence

H1 PBT was modestly ahead of the previous year and slightly ahead of our estimate. Behind this, strong UK/Ireland performance was substantially offset by a short-term setback in North America, which appears to be resolved now. Underlying momentum should become more apparent at the headline level in FY15, although we have increased estimates in all three forecast years. Even after a post-results share price bounce, British Polythene Industries (BPI) is still trading on attractive value multiples.

10/09/2014 6 EN

Underlying

Zovio

Bridgepoint Educations is a provider of postsecondary education services through its academic institutions. Ashford University? offers associate's, bachelor's and master's degree programs online and is comprised of four colleges: the Forbes School of Business and Technology?, the College of Education, the College of Health, Human Services and Science and the College of Liberal Arts. University of the Rockiessm provides master's and doctoral degree programs in the social and behavioral sciences. Classes are presented in an online format, and students at University of the Rockies attend via the institution's accessible online platform, which is also available through its mobile applications.

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US10807M1053 United States

Provider

Edison Investment Research

Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisors and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.

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Update: Increasing confidence

Vermilion Compass: Weekly Equity Strategy

UAFRS vs As Reported Weekly Highlights - 2018 10 10

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