Declared Dividend • May 20
First quarter dividend of US$0.60 announced Shareholders will receive a dividend of US$0.60. Ex-date: 22nd May 2026 Payment date: 1st June 2026 Dividend yield will be 3.2%, which is about the same as the industry average. Sustainability & Growth Dividend is well covered by both earnings (41% earnings payout ratio) and cash flows (31% cash payout ratio). The dividend has increased by an average of 10% per year over the past 9 years and payments have been stable during that time. EPS is expected to remain steady over the next year, which should provide adequate earnings cover for the dividend. Announcement • Apr 23
Strategic Education, Inc. Declares Quarterly Cash Dividend, Payable on June 1, 2026 Strategic Education, Inc. announced that it declared a regular, quarterly cash dividend of $0.60 per share of common stock. This dividend will be paid on June 1, 2026 to shareholders of record as of May 22, 2026. Announcement • Mar 20
Strategic Education, Inc. to Report Q1, 2026 Results on Apr 23, 2026 Strategic Education, Inc. announced that they will report Q1, 2026 results Pre-Market on Apr 23, 2026 Announcement • Feb 27
Strategic Education, Inc. Declares Regular, Quarterly Cash Dividend, Payable on March 16, 2026 Strategic Education, Inc. announced that it declared a regular, quarterly cash dividend of $0.60 per share of common stock. This dividend will be paid on March 16, 2026 to shareholders of record as of March 9, 2026. Announcement • Nov 06
Strategic Education, Inc. Declares Quarterly Cash Dividend, Payable on December 8, 2025 Strategic Education declared a regular, quarterly cash dividend of $0.60 per share of common stock. This dividend will be paid on December 8, 2025 to shareholders of record as of December 1, 2025. Announcement • Oct 02
Strategic Education, Inc. to Report Q3, 2025 Results on Nov 06, 2025 Strategic Education, Inc. announced that they will report Q3, 2025 results Pre-Market on Nov 06, 2025 Announcement • Jul 30
Strategic Education, Inc. Declares Quarterly Cash Dividend, Payable on September 15, 2025 Strategic Education announced that it declared a regular, quarterly cash dividend of $0.60 per share of common stock. This dividend will be paid on September 15, 2025 to shareholders of record as of September 5, 2025. Announcement • Jun 24
Strategic Education, Inc. to Report Q2, 2025 Results on Jul 30, 2025 Strategic Education, Inc. announced that they will report Q2, 2025 results Pre-Market on Jul 30, 2025 Announcement • Apr 24
Strategic Education, Inc. Declares Regular Quarterly Cash Dividend, Payable on June 2, 2025 Strategic Education announced that it declared a regular, quarterly cash dividend of $0.60 per share of common stock. This dividend will be paid on June 2, 2025 to shareholders of record as of May 23, 2025. Announcement • Feb 27
Strategic Education, Inc. Declares Regular Quarterly Cash Dividend, Payable on March 17, 2025 Strategic Education, Inc. announced that it declared a regular, quarterly cash dividend of $0.60 per share of common stock. This dividend will be paid on March 17, 2025 to shareholders of record as of March 10, 2025. Declared Dividend • Nov 12
Third quarter dividend of US$0.60 announced Shareholders will receive a dividend of US$0.60. Ex-date: 2nd December 2024 Payment date: 9th December 2024 Dividend yield will be 2.4%, which is lower than the industry average of 3.0%. Sustainability & Growth Dividend is well covered by both earnings (44% earnings payout ratio) and cash flows (40% cash payout ratio). The dividend has increased by an average of 12% per year over the past 8 years and payments have been stable during that time. EPS is expected to remain steady over the next year, which should provide adequate earnings cover for the dividend. Reported Earnings • Nov 09
Third quarter 2024 earnings released: EPS: US$1.19 (vs US$0.79 in 3Q 2023) Third quarter 2024 results: EPS: US$1.19 (up from US$0.79 in 3Q 2023). Revenue: US$306.0m (up 7.0% from 3Q 2023). Net income: US$27.7m (up 50% from 3Q 2023). Profit margin: 9.1% (up from 6.5% in 3Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 4.7% p.a. on average during the next 3 years, compared to a 4.4% growth forecast for the Consumer Services industry in Europe. Over the last 3 years on average, earnings per share has increased by 38% per year but the company’s share price has only increased by 20% per year, which means it is significantly lagging earnings growth. Announcement • Nov 08
Strategic Education, Inc. Declares Regular, Quarterly Cash Dividend, Payable on December 9, 2024 Strategic Education announced that it declared a regular, quarterly cash dividend of $0.60 per share of common stock. This dividend will be paid on December 9, 2024 to shareholders of record as of December 2, 2024. Announcement • Oct 03
Strategic Education, Inc. to Report Q3, 2024 Results on Nov 07, 2024 Strategic Education, Inc. announced that they will report Q3, 2024 results Pre-Market on Nov 07, 2024 Upcoming Dividend • Aug 30
Upcoming dividend of US$0.60 per share Eligible shareholders must have bought the stock before 06 September 2024. Payment date: 16 September 2024. Payout ratio is a comfortable 48% and this is well supported by cash flows. Trailing yield: 2.5%. Lower than top quartile of German dividend payers (4.8%). In line with average of industry peers (2.6%). Valuation Update With 7 Day Price Move • Aug 08
Investor sentiment deteriorates as stock falls 23% After last week's 23% share price decline to €85.50, the stock trades at a forward P/E ratio of 17x. Average forward P/E is 13x in the Consumer Services industry in Europe. Total returns to shareholders of 48% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €149 per share. Recent Insider Transactions • Aug 06
Independent Director recently bought €438k worth of stock On the 2nd of August, Viet Dinh bought around 5k shares on-market at roughly €87.53 per share. This transaction amounted to 33% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought €780k more in shares than they have sold in the last 12 months. Declared Dividend • Aug 05
Second quarter dividend of US$0.60 announced Shareholders will receive a dividend of US$0.60. Ex-date: 6th September 2024 Payment date: 16th September 2024 Dividend yield will be 2.5%, which is lower than the industry average of 3.0%. Sustainability & Growth Dividend is well covered by both earnings (48% earnings payout ratio) and cash flows (42% cash payout ratio). The dividend has increased by an average of 13% per year over the past 7 years and payments have been stable during that time. EPS is expected to grow by 11% over the next year, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Aug 02
Second quarter 2024 earnings released: EPS: US$1.28 (vs US$0.61 in 2Q 2023) Second quarter 2024 results: EPS: US$1.28 (up from US$0.61 in 2Q 2023). Revenue: US$312.3m (up 8.5% from 2Q 2023). Net income: US$29.9m (up 110% from 2Q 2023). Profit margin: 9.6% (up from 4.9% in 2Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 5.1% p.a. on average during the next 2 years, compared to a 5.0% growth forecast for the Consumer Services industry in Europe. Over the last 3 years on average, earnings per share has increased by 30% per year but the company’s share price has only increased by 13% per year, which means it is significantly lagging earnings growth. Announcement • Jul 31
Strategic Education, Inc. Declares Regular, Quarterly Cash Dividend, Payable on September 16, 2024 Strategic Education, Inc. announced that it declared a regular, quarterly cash dividend of $0.60 per share of common stock. This dividend will be paid on September 16, 2024 to shareholders of record as of September 6, 2024. Announcement • Jun 28
Strategic Education, Inc. to Report Q2, 2024 Results on Jul 31, 2024 Strategic Education, Inc. announced that they will report Q2, 2024 results Pre-Market on Jul 31, 2024 Upcoming Dividend • May 16
Upcoming dividend of US$0.60 per share Eligible shareholders must have bought the stock before 23 May 2024. Payment date: 03 June 2024. Payout ratio is a comfortable 55% and this is well supported by cash flows. Trailing yield: 2.0%. Lower than top quartile of German dividend payers (4.6%). Lower than average of industry peers (2.7%). Recent Insider Transactions • May 03
Independent Director recently bought €462k worth of stock On the 30th of April, Viet Dinh bought around 4k shares on-market at roughly €107 per share. This transaction amounted to 40% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought €410k more in shares than they have sold in the last 12 months. Declared Dividend • Apr 29
First quarter dividend of US$0.60 announced Shareholders will receive a dividend of US$0.60. Ex-date: 23rd May 2024 Payment date: 3rd June 2024 Dividend yield will be 2.1%, which is lower than the industry average of 3.0%. Sustainability & Growth Dividend is covered by both earnings (55% earnings payout ratio) and cash flows (48% cash payout ratio). The dividend has increased by an average of 13% per year over the past 7 years and payments have been stable during that time. EPS is expected to grow by 16% over the next year, which should provide support to the dividend and adequate earnings cover. Announcement • Apr 26
Strategic Education, Inc. Declares Quarterly Cash Dividend, to Be Paid on June 3, 2024 Strategic Education, Inc. declared a regular, quarterly cash dividend of $0.60 per share of common stock. This dividend will be paid on June 3, 2024 to shareholders of record as of May 24, 2024. Reported Earnings • Apr 25
First quarter 2024 earnings released: EPS: US$1.27 (vs US$0.087 loss in 1Q 2023) First quarter 2024 results: EPS: US$1.27 (up from US$0.087 loss in 1Q 2023). Revenue: US$290.3m (up 13% from 1Q 2023). Net income: US$29.7m (up US$31.7m from 1Q 2023). Profit margin: 10% (up from net loss in 1Q 2023). Revenue is forecast to grow 4.4% p.a. on average during the next 2 years, compared to a 3.9% growth forecast for the Consumer Services industry in Europe. Over the last 3 years on average, earnings per share has increased by 13% per year whereas the company’s share price has increased by 16% per year. Announcement • Mar 22
Strategic Education, Inc. to Report Q1, 2024 Results on Apr 25, 2024 Strategic Education, Inc. announced that they will report Q1, 2024 results Pre-Market on Apr 25, 2024 Declared Dividend • Mar 04
Fourth quarter dividend of US$0.60 announced Shareholders will receive a dividend of US$0.60. Ex-date: 8th March 2024 Payment date: 18th March 2024 Dividend yield will be 2.2%, which is lower than the industry average of 3.0%. Sustainability & Growth Dividend is covered by both earnings (80% earnings payout ratio) and cash flows (72% cash payout ratio). The dividend has increased by an average of 13% per year over the past 7 years and payments have been stable during that time. EPS is expected to grow by 67% over the next 2 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Mar 01
Full year 2023 earnings released: EPS: US$2.98 (vs US$1.97 in FY 2022) Full year 2023 results: EPS: US$2.98 (up from US$1.97 in FY 2022). Revenue: US$1.13b (up 6.3% from FY 2022). Net income: US$69.8m (up 50% from FY 2022). Profit margin: 6.2% (up from 4.4% in FY 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 5.1% p.a. on average during the next 2 years, compared to a 2.1% growth forecast for the Consumer Services industry in Europe. Over the last 3 years on average, earnings per share has fallen by 10% per year but the company’s share price has increased by 8% per year, which means it is well ahead of earnings. Announcement • Feb 29
Strategic Education, Inc. Declares Quarterly Dividend, Payable on March 18, 2024 Strategic Education, Inc. announced that it declared a regular, quarterly cash dividend of $0.60 per share of common stock. This dividend will be paid on March 18, 2024 to shareholders of record as of March 11, 2024. Upcoming Dividend • Nov 17
Upcoming dividend of US$0.60 per share at 2.7% yield Eligible shareholders must have bought the stock before 24 November 2023. Payment date: 04 December 2023. The company is paying out more than 100% of its earnings and cash flow. Trailing yield: 2.7%. Lower than top quartile of German dividend payers (5.0%). In line with average of industry peers (2.6%). Announcement • Nov 03
Strategic Education, Inc. Declares Quarterly Dividend, Payable on December 4, 2023 Strategic Education, Inc. that it declared a regular, quarterly cash dividend of $0.60 per share of common stock. This dividend will be paid on December 4, 2023 to shareholders of record as of November 27, 2023. Reported Earnings • Nov 03
Third quarter 2023 earnings released: EPS: US$0.79 (vs US$0.26 in 3Q 2022) Third quarter 2023 results: EPS: US$0.79 (up from US$0.26 in 3Q 2022). Revenue: US$285.9m (up 8.7% from 3Q 2022). Net income: US$18.5m (up 203% from 3Q 2022). Profit margin: 6.5% (up from 2.3% in 3Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 6.1% p.a. on average during the next 3 years, compared to a 4.1% growth forecast for the Consumer Services industry in Europe. Over the last 3 years on average, earnings per share has fallen by 29% per year but the company’s share price has only fallen by 3% per year, which means it has not declined as severely as earnings. Announcement • Sep 27
Strategic Education, Inc. to Report Q3, 2023 Results on Nov 02, 2023 Strategic Education, Inc. announced that they will report Q3, 2023 results Pre-Market on Nov 02, 2023 Board Change • Sep 06
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Director Viet Dinh was the last director to join the board, commencing their role in 2023. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Upcoming Dividend • Aug 24
Upcoming dividend of US$0.60 per share at 3.1% yield Eligible shareholders must have bought the stock before 31 August 2023. Payment date: 11 September 2023. The company is paying out more than 100% of its earnings and cash flow. Trailing yield: 3.1%. Lower than top quartile of German dividend payers (4.9%). Higher than average of industry peers (2.8%). Announcement • Jul 28
Strategic Education, Inc. Declares Quarterly Cash Dividend, Payable on September 11, 2023 Strategic Education, Inc. announced that it declared a regular, quarterly cash dividend of $0.60 per share of common stock. This dividend will be paid on September 11, 2023 to shareholders of record as of September 1, 2023. Reported Earnings • Jul 28
Second quarter 2023 earnings released: EPS: US$0.61 (vs US$0.64 in 2Q 2022) Second quarter 2023 results: EPS: US$0.61 (down from US$0.64 in 2Q 2022). Revenue: US$287.7m (up 5.2% from 2Q 2022). Net income: US$14.2m (down 6.5% from 2Q 2022). Profit margin: 4.9% (down from 5.6% in 2Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 5.9% p.a. on average during the next 2 years, compared to a 5.0% growth forecast for the Consumer Services industry in Europe. Over the last 3 years on average, earnings per share has fallen by 40% per year but the company’s share price has only fallen by 18% per year, which means it has not declined as severely as earnings. Buying Opportunity • Jul 06
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 26%. The fair value is estimated to be €75.85, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 41%. Revenue is forecast to grow by 5.9% in a year. Earnings is forecast to grow by 71% in the next year. Announcement • Jun 23
Strategic Education, Inc. to Report Q2, 2023 Results on Jul 27, 2023 Strategic Education, Inc. announced that they will report Q2, 2023 results Pre-Market on Jul 27, 2023 Upcoming Dividend • May 18
Upcoming dividend of US$0.60 per share at 3.1% yield Eligible shareholders must have bought the stock before 25 May 2023. Payment date: 05 June 2023. The company is paying out more than 100% of its profits and is paying out 94% of its cash flow. Trailing yield: 3.1%. Lower than top quartile of German dividend payers (4.7%). Higher than average of industry peers (2.7%). Reported Earnings • Apr 28
First quarter 2023 earnings released: US$0.087 loss per share (vs US$0.29 profit in 1Q 2022) First quarter 2023 results: US$0.087 loss per share (down from US$0.29 profit in 1Q 2022). Revenue: US$256.6m (flat on 1Q 2022). Net loss: US$2.03m (down 129% from profit in 1Q 2022). Revenue is forecast to grow 5.5% p.a. on average during the next 2 years, compared to a 5.4% growth forecast for the Consumer Services industry in Europe. Over the last 3 years on average, earnings per share has fallen by 41% per year but the company’s share price has only fallen by 16% per year, which means it has not declined as severely as earnings. Reported Earnings • Feb 24
Full year 2022 earnings released: EPS: US$1.97 (vs US$2.30 in FY 2021) Full year 2022 results: EPS: US$1.97 (down from US$2.30 in FY 2021). Revenue: US$1.07b (down 5.9% from FY 2021). Net income: US$46.7m (down 15% from FY 2021). Profit margin: 4.4% (down from 4.9% in FY 2021). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 4.5% p.a. on average during the next 2 years, compared to a 6.1% growth forecast for the Consumer Services industry in Europe. Over the last 3 years on average, earnings per share has fallen by 36% per year but the company’s share price has only fallen by 13% per year, which means it has not declined as severely as earnings. Upcoming Dividend • Nov 18
Upcoming dividend of US$0.60 per share Eligible shareholders must have bought the stock before 25 November 2022. Payment date: 05 December 2022. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 3.0%. Lower than top quartile of German dividend payers (4.8%). In line with average of industry peers (2.9%). Recent Insider Transactions • Nov 16
Independent Director recently bought €150k worth of stock On the 7th of November, Michael Thawley bought around 2k shares on-market at roughly €77.35 per share. This transaction increased Michael's direct individual holding by 2x at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought €1.4m more in shares than they have sold in the last 12 months. Recent Insider Transactions • Nov 10
Independent Director recently bought €150k worth of stock On the 7th of November, Michael Thawley bought around 2k shares on-market at roughly €77.35 per share. This transaction increased Michael's direct individual holding by 2x at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought €1.4m more in shares than they have sold in the last 12 months. Reported Earnings • Nov 04
Third quarter 2022 earnings released: EPS: US$0.26 (vs US$0.16 in 3Q 2021) Third quarter 2022 results: EPS: US$0.26 (up from US$0.16 in 3Q 2021). Revenue: US$263.1m (down 2.6% from 3Q 2021). Net income: US$6.09m (up 58% from 3Q 2021). Profit margin: 2.3% (up from 1.4% in 3Q 2021). The increase in margin was driven by lower expenses. Revenue is forecast to grow 4.1% p.a. on average during the next 2 years, compared to a 12% growth forecast for the Consumer Services industry in Europe. Over the last 3 years on average, earnings per share has fallen by 31% per year but the company’s share price has only fallen by 14% per year, which means it has not declined as severely as earnings. Announcement • Nov 04
Strategic Education, Inc. Declares Quarterly Cash Dividend, Payable on December 5, 2022 Strategic Education, Inc. announced that it declared a regular, quarterly cash dividend of $0.60 per share of common stock. This dividend will be paid on December 5, 2022 to shareholders of record as of November 28, 2022. Announcement • Sep 28
Strategic Education, Inc. to Report Q3, 2022 Results on Nov 03, 2022 Strategic Education, Inc. announced that they will report Q3, 2022 results at 9:30 AM, US Eastern Standard Time on Nov 03, 2022 Announcement • Sep 13
Strategic Education, Inc. Announces Appointment of Michael Thawley to Board of Directors Strategic Education, Inc. announced that former Australian Ambassador to the United States, the Honorable Michael Thawley, has been appointed to the Company’s board of directors. Mr. Thawley joins the Strategic Education Board of Directors with a broad range of international and Australia-based business leadership excellence as former vice-chairman of Capital Group International, a member of Capital Group Companies. Mr. Thawley entered the Australian foreign service in 1972 and served at embassies throughout the world. He was head of the international division of the Prime Minister’s department under Prime Minister Keating from 1993 to 1996 and then international adviser to Prime Minister Howard from 1996 to 1999. From 2000 to 2005, Mr. Thawley served as Australia’s ambassador to the United States, playing a key role in achieving a free-trade agreement between Australia and the United States and legislation that provided a unique visa for Australian professionals to work in the US. After serving under Prime Minister Howard, Mr. Thawley worked for Capital Group. While at Capital Group Mr. Thawley served as Senior Vice President and International Adviser of Capital Strategy, Inc.; Senior Vice President of Capital Research and Management Company; and as Vice Chairman of the Board of several global mutual funds in the American Funds family. In late 2014 he returned to Australia as the secretary of the department of the Prime Minister and Cabinet under Prime Minister Abbott and then briefly under Prime Minister Turnbull. In this position, he was the chief policy adviser to the prime minister and head of the Australian public service, before rejoining Capital Group in August 2016. Mr. Thawley was born in London and was educated at Australian National University and Surrey University. Mr. Thawley will remain vice chairman of the board of Capital International Fund which oversees the management of funds invested by mostly non-US clients. Upcoming Dividend • Aug 25
Upcoming dividend of US$0.60 per share Eligible shareholders must have bought the stock before 01 September 2022. Payment date: 12 September 2022. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 3.5%. Lower than top quartile of German dividend payers (4.6%). Higher than average of industry peers (2.8%). Reported Earnings • Jul 28
Second quarter 2022 earnings released: EPS: US$0.64 (vs US$0.83 in 2Q 2021) Second quarter 2022 results: EPS: US$0.64 (down from US$0.83 in 2Q 2021). Revenue: US$273.6m (down 8.6% from 2Q 2021). Net income: US$15.2m (down 24% from 2Q 2021). Profit margin: 5.6% (down from 6.7% in 2Q 2021). The decrease in margin was driven by lower revenue. Over the next year, revenue is forecast to stay flat compared to a 46% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has fallen by 15% per year but the company’s share price has fallen by 25% per year, which means it is performing significantly worse than earnings. Announcement • Jul 28
Strategic Education, Inc. Declares Regular Quarterly Cash Dividend, Payable on September 12, 2022 Strategic Education, Inc. announced that it declared a regular, quarterly cash dividend of $0.60 per share of common stock. This dividend will be paid on September 12, 2022 to shareholders of record as of September 2, 2022. Valuation Update With 7 Day Price Move • Jun 28
Investor sentiment improved over the past week After last week's 18% share price gain to €67.50, the stock trades at a trailing P/E ratio of 34.2x. Average forward P/E is 11x in the Consumer Services industry in Europe. Total loss to shareholders of 54% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €104 per share. Announcement • Jun 23
Strategic Education, Inc. to Report Q2, 2022 Results on Jul 27, 2022 Strategic Education, Inc. announced that they will report Q2, 2022 results at 9:30 AM, US Eastern Standard Time on Jul 27, 2022 Upcoming Dividend • May 19
Upcoming dividend of US$0.60 per share Eligible shareholders must have bought the stock before 26 May 2022. Payment date: 06 June 2022. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 3.7%. Lower than top quartile of German dividend payers (4.4%). Higher than average of industry peers (2.4%). Reported Earnings • Apr 29
First quarter 2022 earnings released: EPS: US$0.29 (vs US$0.40 in 1Q 2021) First quarter 2022 results: EPS: US$0.29 (down from US$0.40 in 1Q 2021). Revenue: US$258.9m (down 11% from 1Q 2021). Net income: US$7.03m (down 27% from 1Q 2021). Profit margin: 2.7% (down from 3.3% in 1Q 2021). Over the next year, revenue is expected to shrink by 1.6% compared to a 30% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has fallen by 25% per year, which means it is significantly lagging earnings. Recent Insider Transactions • Mar 02
Executive Chairman of the Board recently bought €697k worth of stock On the 28th of February, Robert Silberman bought around 13k shares on-market at roughly €53.64 per share. This was the largest purchase by an insider in the last 3 months. Robert has been a buyer over the last 12 months, purchasing a net total of €1.5m worth in shares. Reported Earnings • Feb 26
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: US$2.30 (down from US$3.81 in FY 2020). Revenue: US$1.13b (up 10% from FY 2020). Net income: US$55.1m (down 36% from FY 2020). Profit margin: 4.9% (down from 8.4% in FY 2020). Revenue was in line with analyst estimates. Over the next year, revenue is expected to shrink by 2.2% compared to a 23% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 28% per year but the company’s share price has fallen by 25% per year, which means it is significantly lagging earnings. Announcement • Feb 26
Strategic Education, Inc. Declares Cash Dividend, Payable on March 14, 2022 Strategic Education, Inc. announced that it declared a regular, quarterly cash dividend of $0.60 per share of common stock. This dividend will be paid on March 14, 2022 to shareholders of record as of March 7, 2022. Recent Insider Transactions • Nov 20
Executive Chairman of the Board recently bought €511k worth of stock On the 18th of November, Robert Silberman bought around 10k shares on-market at roughly €51.10 per share. This was the largest purchase by an insider in the last 3 months. Robert has been a buyer over the last 12 months, purchasing a net total of €768k worth in shares. Upcoming Dividend • Nov 19
Upcoming dividend of US$0.60 per share Eligible shareholders must have bought the stock before 26 November 2021. Payment date: 06 December 2021. Trailing yield: 4.2%. Within top quartile of German dividend payers (3.1%). Higher than average of industry peers (2.2%). Reported Earnings • Nov 05
Third quarter 2021 earnings released: EPS US$0.16 (vs US$0.48 in 3Q 2020) The company reported a soft third quarter result with weaker earnings and profit margins, although revenues improved. Third quarter 2021 results: Revenue: US$270.1m (up 13% from 3Q 2020). Net income: US$3.85m (down 65% from 3Q 2020). Profit margin: 1.4% (down from 4.6% in 3Q 2020). Over the last 3 years on average, earnings per share has increased by 56% per year but the company’s share price has fallen by 23% per year, which means it is significantly lagging earnings. Upcoming Dividend • Aug 26
Upcoming dividend of US$0.60 per share Eligible shareholders must have bought the stock before 02 September 2021. Payment date: 13 September 2021. Trailing yield: 3.1%. Within top quartile of German dividend payers (3.1%). Higher than average of industry peers (1.9%). Board Change • Aug 05
High number of new directors Director Michael McRobbie was the last director to join the board, commencing their role in 2021. Reported Earnings • Jul 29
Second quarter 2021 earnings released: EPS US$0.83 (vs US$1.57 in 2Q 2020) The company reported a soft second quarter result with weaker earnings and profit margins, although revenues improved. Second quarter 2021 results: Revenue: US$299.2m (up 17% from 2Q 2020). Net income: US$20.0m (down 42% from 2Q 2020). Profit margin: 6.7% (down from 13% in 2Q 2020). Over the last 3 years on average, earnings per share has increased by 63% per year but the company’s share price has fallen by 13% per year, which means it is significantly lagging earnings. Upcoming Dividend • May 20
Upcoming dividend of US$0.60 per share Eligible shareholders must have bought the stock before 27 May 2021. Payment date: 07 June 2021. Trailing yield: 3.2%. Lower than top quartile of German dividend payers (3.3%). Higher than average of industry peers (1.8%). Reported Earnings • May 01
First quarter 2021 earnings released: EPS US$0.40 (vs US$1.62 in 1Q 2020) The company reported a soft first quarter result with weaker earnings and profit margins, although revenues improved. First quarter 2021 results: Revenue: US$290.3m (up 9.4% from 1Q 2020). Net income: US$9.58m (down 73% from 1Q 2020). Profit margin: 3.3% (down from 13% in 1Q 2020). Over the last 3 years on average, earnings per share has increased by 65% per year but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings. Recent Insider Transactions • Mar 05
Executive Chairman of the Board recently bought €257k worth of stock On the 3rd of March, Robert Silberman bought around 4k shares on-market at roughly €64.29 per share. This was the largest purchase by an insider in the last 3 months. This was Robert's only on-market trade for the last 12 months. Is New 90 Day High Low • Mar 02
New 90-day low: €69.50 The company is down 10.0% from its price of €77.50 on 02 December 2020. The German market is up 8.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Consumer Services industry, which is up 4.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €161 per share. Reported Earnings • Feb 27
Full year 2020 earnings released: EPS US$3.81 (vs US$3.74 in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: US$1.03b (up 3.1% from FY 2019). Net income: US$86.3m (up 6.3% from FY 2019). Profit margin: 8.4% (up from 8.1% in FY 2019). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 63% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Analyst Estimate Surprise Post Earnings • Feb 27
Revenue misses expectations Revenue missed analyst estimates by 0.6%. Over the next year, revenue is forecast to grow 17%, compared to a 8.7% growth forecast for the Consumer Services industry in Germany. Recent Insider Transactions • Dec 15
Independent Director recently sold €188k worth of stock On the 10th of December, John Casteen sold around 2k shares on-market at roughly €79.05 per share. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of €3.9m more than they bought in the last 12 months. Upcoming Dividend • Nov 20
Upcoming Dividend of US$0.60 Per Share Will be paid on the 7th of December to those who are registered shareholders by the 27th of November. The trailing yield of 2.7% is below the top quartile of German dividend payers (3.7%), but it is higher than industry peers (1.9%). Analyst Estimate Surprise Post Earnings • Nov 07
Revenue misses expectations Revenue missed analyst estimates by 0.9%. Over the next year, revenue is forecast to grow 8.3%, compared to a 7.6% growth forecast for the Consumer Services industry in Germany. Reported Earnings • Nov 07
Third quarter 2020 earnings released: EPS US$0.48 The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2020 results: Revenue: US$239.0m (down 1.1% from 3Q 2019). Net income: US$11.0m (down 34% from 3Q 2019). Profit margin: 4.6% (down from 6.9% in 3Q 2019). The decrease in margin was primarily driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 46% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Is New 90 Day High Low • Oct 30
New 90-day low: €70.00 The company is down 36% from its price of €110 on 31 July 2020. The German market is down 4.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Consumer Services industry, which is up 16% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €113 per share. Announcement • Oct 12
Strategic Education, Inc. to Report Q3, 2020 Results on Nov 05, 2020 Strategic Education, Inc. announced that they will report Q3, 2020 results at 9:00 AM, Eastern Standard Time on Nov 05, 2020 Announcement • Sep 22
Strategic Education, Inc. and Noodle Partners Unite to Provide Employers with Access to A Variety of Education and Upskilling Programs from the Nation’s Leading Universities Strategic Education, Inc. and Noodle Partners announced that they will join forces to provide employers with a seamless approach to administering tuition assistance benefits. The partnership is designed to ensure the effectiveness of such benefits and to give covered employees access to affordable, relevant education options from top public and private schools. Using WorkforceEdge, a complete employee education management platform, employees can connect to a wide variety of online undergraduate and graduate programs in Noodle’s network of top public and private universities, and the affordable programs within Strategic Education’s portfolio, including Strayer University and Capella University. WorkforceEdge also serves as the portal for employers to administer and disburse tuition assistance benefits for employees and to better understand their spend and return on investment. WorkforceEdge streamlines the user experience for both employer and employee: the employer has a central interface for greater visibility into the overall investment it is making, while the employee has a user-friendly portal through which to learn about available programs. Strategic Education currently has more than 750 employer partnerships where it provides a suite of groundbreaking education solutions to help employers build and retain a skilled workforce. The new WorkforceEdge platform adds to Strategic Education’s commitment to offering employees options that are relevant, innovative and affordable. For example, Strayer’s Degrees@Work partnered with Fiat Chrysler Automobiles to offer a degree program to dealership employees and their families free of charge. Participating dealers experienced nearly 40% higher employee retention. A pilot program will launch at the end of September. Interested companies can visit https://www.workforceedge.com/to learn more about WorkforceEdge which will be available to all Strategic Education corporate partners by October 31, 2020. Announcement • Aug 07
Strategic Education, Inc. has completed a Follow-on Equity Offering in the amount of $199.5 million. Strategic Education, Inc. has completed a Follow-on Equity Offering in the amount of $199.5 million.
Security Name: Common Stock
Security Type: Common Stock
Securities Offered: 1,900,000
Price\Range: $105
Discount Per Security: $4.2 Announcement • Jul 31
Strategic Education, Inc. (NasdaqGS:STRA) entered into a sale and purchase agreement to acquire LEI Higher Education Holdings, LEI Australia Holdings, LESA Education Services Holdings and LEI New Zealand from LEI AMEA Investments B.V. for approximately $640 million. Strategic Education, Inc. (NasdaqGS:STRA) entered into a sale and purchase agreement to acquire LEI Higher Education Holdings, LEI Australia Holdings, LESA Education Services Holdings and LEI New Zealand from LEI AMEA Investments B.V. for approximately $640 million on July 29, 2020. Pursuant to the Purchase Agreement, the seller has agreed to sell to the purchaser all of the issued and outstanding shares in the capital of the targets which also include the acquisition of Torrens University Australia, Think Education, and Media Design School. The consideration will be fully paid in cash and is subject to certain adjustments, including for working capital, indebtedness and cash at the closing of the transaction and the business’s forecasted 2021 EBITDA. Strategic Education, Inc. has received commitments from SunTrust and Bank of America to expand the company’s existing revolving credit facility from $250 million to $350 million coinciding with the close of the transaction. Pursuant to the Purchase Agreement, Laureate and a subsidiary of SEI will enter into a transition services agreement to be effective at the closing of the transaction.
For the 12-month period ended March 31, 2020, the Target Companies and their subsidiaries collectively had approximately $199.9 million in revenue, $26.9 million in operating income and $12.4 million in depreciation and amortization.
The transaction is subject to the companies' board approval, certain regulatory approvals and customary closing conditions including, but are not limited to, (i) the receipt of applicable regulatory approvals in Australia and New Zealand and the absence of certain adverse regulatory events, (ii) the receipt of specified third party consents, and (iii) the absence of a material adverse change in certain forecasted results of the business. The transaction has been unanimously approved by the Boards of Directors of both companies. The transaction is expected to close by the first quarter of 2021. This transaction will be immediately, and significantly, accretive to Strategic Education earnings.
BofA Securities acted as financial advisor to Strategic Education in this transaction, and Hogan Lovells acted as legal advisor. Goldman Sachs & Co. LLC acted as financial advisor and Allens, DLA Piper New Zealand and Allen & Overy LLP acted as legal advisors to Laureate Education, Inc. parent of LEI AMEA Investments B.V.