Citi Reports Conservative Outlook For Bridgepoint Education

In a report published by Citi, Bridgepoint Education's (NYSE: BPI) Q4 bucks the trend, and its outlook appears conservative.

Citi reported Q4 Rev/EPS of $192MM/$0.45 beat Street at $181MM/$0.37. “Company expects total enrollment to increase 5% Y/Y in 2011 to 81,750 at the midpoint, a significant slowdown vs. the 45% Y/Y increase in 2010 (and CIRA est. of 19% Y/Y). 2011 Outlook for Revenues of $878MM is above the Street at $871MM (inc. 5% tuition increase effective April 1, 2011), but FY2011 EPS mid point of $2.20 trailed Street at $2.54.”

Bridgepoint Education closed yesterday at $18.73.