International student placement services company IDP Education Ltd’s (ASX: IEL) share price is up 73% on its price point at this time last year – sitting at $9.73 at the time of writing from $5.62 on November 8 last year.
IDP has a stronghold on the international student placement and English language testing services niche – a growing sector – and its FY19 results are expected to be strong.
IDP reported its revenue rose by 24% to $487 million for FY18 with EBITDA growth of 30%.
While IDP’s share price is currently at a premium, investors continue to rally behind the stock, and Morgan Stanley placed a buy rating on the share back in August with a price target of $11.00.
Elsewhere in the education sector, the Navitas Limited (ASX: NVT) share price is still looking healthy despite posting an FY18 loss of $55.3 million due to a one-off charge of rationalising its business portfolio.
The G8 Education Ltd (ASX: GEM) share price has all but bottomed out this year – sitting at $2.14 at the time of writing from $4.47 at this time last year.
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Returns as of 6th October 2020
Motley Fool contributor Carin Pickworth has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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