The Dividend Daily

For-profit educator DeVry Inc. (DV) late Tuesday said that its third quarter earnings jumped 57% from last year on higher enrollment, easily beating analyst expectations.

The Oakbrook Terrace, Illinois-based company reported third quarter net income of $54.7 million, or 76 cents per share, compared with $34.8 million, or 48 cents per share, in the year-ago period.

Revenue jumped 42% from last year, to $431.1 million.

On average, Wall Street analysts expected a much lower profit of 65 cents per share, on smaller revenue of $418.1 million.

CEO Daniel Hamburger said in a statement that “Our financial results this quarter were driven largely by exceptional revenue growth.” As the recession has worsened and more people lose their jobs, companies like DeVry have benefited from sharply higher enrollment numbers.

DeVry shares rose 61 cents, or +1.1%, in premarket trading Wednesday.

The Bottom Line
We began recommending shares of DV back on Oct.15 for aggressive investors, when the stock was trading at $54.40. The company has a dividend yield of .29%, based on last night’s closing stock price of $54.88.

DeVry Inc. (DV) is a “recommended” dividend stock, holding a Dividend.com DARS™ Rating of 3.5 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.