Markets

Apollo Education Group Appoints Gregory Iverson as CFO

A generic image of a person holding out their hands
Credit: Shutterstock photo

Apollo Education Group, Inc.APOL recently announced the appointment of a new chief financial officer (CFO) effective Oct 26, 2015. The present CFO, Joseph D'Amico, will be succeeded by Gregory Iverson, who will report to Chief Executive Officer Gregory Cappelli.

Gregory Iverson is currently serving as the vice president of finance, chief accounting officer and treasurer of the education company. He has been working with the company since 2007.

Apollo Education's earnings and revenues have declined through the first three quarters of 2015 due to lower enrollment and lower-than-expected new enrollment at its flagship school - University of Phoenix (UOP).

Lower retention rates and declining revenue per student at UOP also hurt results. Revenue per student at UOP has decreased year over year in the last three quarters, largely due to disruptions related to the online classroom conversion, which was implemented in the fourth quarter of 2014.

As a result, this Zacks Rank #3 (Hold) company cut its revenue and adjusted operating income guidance for fiscal 2015 for the third time this year, during its third-quarter fiscal 2015 earnings conference in June. Nonetheless, Apollo Global, which operates in the international education market, continues to perform well globally. This is expected to lend some top-line support. We intend to wait and see whether the company's new CFO can drive results during his tenure.

Stocks to Consider

Some better-ranked stocks in the consumer discretionary sector include Strayer Education Inc. STRA , Oxford Industries Inc. OXM and Grand Canyon Education, Inc. LOPE . While Strayer Education sports a Zacks Rank #1 (Strong Buy), Oxford Industries and Grand Canyon Education carry a Zacks Rank #2 (Buy).

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

STRAYER EDUC (STRA): Free Stock Analysis Report

APOLLO GROUP (APOL): Free Stock Analysis Report

OXFORD INDS INC (OXM): Free Stock Analysis Report

GRAND CANYON ED (LOPE): Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

In This Story

LOPE STRA OXM

Other Topics

Stocks

Latest Markets Videos

    Zacks

    Zacks is the leading investment research firm focusing on stock research, analysis and recommendations. In 1978, our founder discovered the power of earnings estimate revisions to enable profitable investment decisions. Today, that discovery is still the heart of the Zacks Rank. A wealth of resources for individual investors is available at www.zacks.com.

    Learn More