The analysts had 2013 earning estimates much lower, but ESI management came out with a $3.50 to $4.00 estimate. The analysts raised 2013 to match management. When ESI management comes out with 2014 guidance, the 2014 estimates will go up.
Fool! Analyze the enrollment numbers and listen closely to the conference calls. Huge numbers of students are graduating in 2013. There is nowhere near enough new enrollment to replace departing students. 2014 numbers must mathematically be lower than 2013. You are just dreaming. That is not investing.
You have no clue. The scholarship program costs money. ESI pays for it. Sure, it helps enrollment, but it is not some free piece of magic.. No growth in 2014 for sure. New enrollment growth is possible, but not overall growth. The overall business will continue to shrink. Far more will graduate than be replaced this year. That means shrinkage. Mathematical certainty. You are investing based upon the past.
Graduation rates alone guarantee shrinkage. Students dropping out and students failing to pay back loans only will provide further pressure.