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Corinthian Colleges Inc. Message Board

  • money_money_more_money money_money_more_money Feb 5, 2014 10:17 PM Flag

    Comparing to industry peers

    Last year ESI, APOL and CECO were down big, but they rebounded either due to better earning or due to assets sale in case of CECO.

    Why do you think this one is different and will not rebound.. or why others are not facing headwinds similar to this one?

    SortNewest  |  Oldest  |  Most Replied Expand all replies
    • All COCO investors should go listen to CECO CC. and then listen to COCO's ..... then you know why Jack said it will be improving coming quarter. Jack might be a bit shy because he missed many times now he is more conservative.

    • the Zacks upgrade is a very, Very good catalyst

    • Thanks everyone for the replies.

    • Did look like they had about $60 mill available under their credit facility. I'll be curious to see if they drew down on that at all in the Q or not. I have only glanced at this one without much of a position.

      Wish someone in CC would have brought up selling assets though as a potential strategic idea for the company to bolster the weak balance sheet.

    • Maybe a merger would help, there is values with COCO, just need to hold on longer.

      Really they should sell asset more aggressively.... the last 4 school up for sales is nowhere, and Jack did not mention nor been questioned.

      We could scale back to $800M to $1B revenue and get profitable if we reduce the fix expenses with empty campuses....

      Why don't they bring a turn around guy inhouse?

      Sentiment: Hold

    • Money:

      I'll repeat my prior post here on the topic of CECO and peers relative to COCO.

      There is a huge difference in these stocks. For example, CECO has $600M in cash. COCO has $37M by last count. CECO can weather 15 times more litigation/settlements than COCO.

      Unfortunately, the company with the least cash, COCO, faces the most litigation. COCO has no ability to negotiate settlements with any of the close to 50 states AG and all the other entities which have filed suit. So its only option is to litigate over and over and over for years hoping that its small cash balance will be enough to pay the legal bills.

      If that were not enough, COCO is the sole FPE company that has been borderline having to post a $100M+ financial bond. As its cash and stock price deteriorates, this is likely to trigger the bond posting which will collapse the company.

      COCO has more hurt and less resources than any other public FPE company. That's why we can single out COCO as the ultimate loser Less

      • 2 Replies to davenport_mba
      • What's your source for saying that CECO has $600M in cash? Per their last 10Q, they had cash of just $31M, down from $113M the prior quarter. They also had negative EPS and negative Cashflow from operations. Infact, like COCO, revenues were down 20% from the prior quarter and they also had declining student enrollment. It's all there in the 10Q for anyone who cares to actually read.

        There's no siginficant difference in the number of law suits filed against both COCO and CECO -- infact CECO was also named in the last round of suits in which COCO was named and they are enjoying just as much negative publicity as most other FPEs. What's CECO going for? Since they don't have earnings, I'll use the ttm P/S ratio which is 0.29. COCO's P/S ratio on the other hand is 0.07. With regard to the bond posting, they have a line of credit just like CECO and haven't had to post any bonds so far. COCO is now projected to have earnings. That's a big deal.

      • The socalled litigation will be drug out for yrs.its of no threat to coco for a longgg time.

 
COCO
0.1105-0.0105(-8.68%)Sep 30 4:00 PMEDT

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