American Public (APEI) To Unveil Weekend Nursing Classes At HCN
Zacks Investment Research | Oct 15, 2019 10:06PM ET
In order to address the nursing shortage in the nation, American Public Education, Inc.’s (NASDAQ:APEI) subsidiary Hondros College of Nursing (“HCN”) will introduce evening/weekend classes for its Practical Nursing Program in Toledo/Maumee, OH.
The new batches, which will begin in January 2020, are meant to provide greater flexibility to students engaged in jobs or family responsibilities and are unable to accommodate a traditional weekday schedule.
Rationale for the Program
Per the American Nurses Association’s 2018 report, the nursing segment is expected to create more jobs than any other profession by 2022. Notably, HCN programs help students to acquire various skills required at healthcare institutions, from performing lab tests to monitoring IV therapy and patient care.
Additionally, students will get an opportunity to explore clinical and simulation practice with interactive manikins during the second semester of the course.
American Public Education is highly focused on introducing new courses and programs with various schedule options, in order to capture prospective students. The company has already launched such classes in Columbus/Westerville, Cincinnati/West Chester, Cleveland/Independence and Dayton/Fairborn.
Depressingly, in second-quarter 2019, its top and bottom lines declined 3% and 23.1%, respectively, on a year-over-year basis due to lower contribution across the segments. Particularly in HCN, revenues were down 21.6% year over year owing to low enrollments. Total enrollment in the segment dropped 24% and new student enrollment fell nearly 35% from the prior-year period.
For the third quarter, it expects HCN’s total and new student enrollment to decline 29% each from the year-ago period. Shares of this Zacks Rank #3 (Hold) company have declined 24.2% against its Zacks Investment Research
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