Afya Limited AFYA announced it has reached a total of 220 medical seats at Centro Universitário de Maceió (UNIMA Alagoas) after the recent authorization made by the Secretary of Regulation and Supervision of Higher Education of the Ministry of Education.
The authorization leads to an increase of 80 medical seats at UNIMA Alagoas, which is housed in the city of Maceió, located in Alagoas, Brazil. The increased medical seats will come with an additional payment of R$ 1.25 million per increased seat approval, updated by IPCA from Jan 2, 2023, until the payment date.
Furthermore, the increased number of seats will contribute to the 3,583 approved seats of AFYA, thus strengthening its position to provide quality medical education in the country.
Price Performance
Shares of this medical education group and medical practice solutions provider in Brazil gained 5.6% in the past three months, outperforming the Zacks Schools industry’s 3.1% growth. The company’s focus on accretive buyouts, operational restructuring efforts and other business initiatives to offer top-tier medical education services are likely to continue boosting its growth in the upcoming period.
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Considering the estimate revision trend, the Zacks Consensus Estimate for 2024 earnings per share (EPS) of AFYA has been revised upward to $1.63 from $1.60 in the past 30 days. The estimated figure indicates 27.3% year-over-year growth. Also, the estimate for second-quarter EPS has moved north in the past 60 days, indicating 27.6% growth from the year-ago quarter’s reported figure.
The growth trend is solidified by a VGM Score of A, backed by a Value Score and Growth Score of A. Such an uptrend depicts analysts’ optimism about the stock’s potential.
Zacks Rank & Other Key Picks
Afya currently carries a Zacks Rank #2 (Buy).
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Afya Limited (AFYA) : Free Stock Analysis Report
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