Deutsche Bank Comments On ITT Education Services' Initiatives

According to Deutsche Bank, ITT Education Services ESI announces company initiatives in response to GE. Deutsche Bank said that, presenting at a competitor conference today, ESI management outlined initiatives the company is adopting in response to the Dept of Education's (DoE) final Gainful Employment (GE) rule. “While near term enrollment declines are expected to worsen from 1Q levels and remain weak for several quarters to come, managemet believes it will get back to a normalized, long term 6-8% new enrollment growth rate. Management reaffirmed expectations that 2011 EPS will be at the high end of the $8.50-$10.50 range.” ITT Education Services closed yesterday at $80.16.