Last $70.42 USD
Change Today +1.06 / 1.53%
Volume 204.9K
CEB On Other Exchanges
Symbol
Exchange
New York
As of 8:04 PM 04/17/14 All times are local (Market data is delayed by at least 15 minutes).

corporate executive board co (CEB) Snapshot

Open
$69.35
Previous Close
$69.36
Day High
$70.65
Day Low
$68.95
52 Week High
01/15/14 - $81.00
52 Week Low
05/1/13 - $54.00
Market Cap
2.4B
Average Volume 10 Days
200.5K
EPS TTM
$1.89
Shares Outstanding
33.6M
EX-Date
03/12/14
P/E TM
37.3x
Dividend
$1.05
Dividend Yield
1.33%
Current Stock Chart for CORPORATE EXECUTIVE BOARD CO (CEB)

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corporate executive board co (CEB) Details

The Corporate Executive Board Company provides member-based advisory services to executives and professionals in the United States, Europe, and internationally. It offers data analysis, research, and advisory services to senior executives and their teams to drive corporate performance by identifying and building on the proven best practices of the world’s best companies through various channels, including Web-based resources, interactive workshops, live meetings, and published studies; and creates and maintains benchmarking assets with information, such as organizational structures, costs, and productivity, as well as customer experience and service quality. The company also provides cloud-based talent measurement and management products comprising cognitive ability assessments, skills and knowledge assessments, personality questionnaires, and job/role simulations for organizations to enhance employee performance, development, and engagement; consulting and training services; professional services, including best practice implementation, and survey and diagnostic tools; executive education curriculum; and consulting services for the United States government on long-term contracts. It serves various industries, including human resources, finance, strategy and operations, legal and compliance, sales and marketing, and technology, as well as the government agencies. The Corporate Executive Board Company was founded in 1979 and is headquartered in Arlington, Virginia.

3,900 Employees
Last Reported Date: 03/3/14
Founded in 1979

corporate executive board co (CEB) Top Compensated Officers

Chairman and Chief Executive Officer
Total Annual Compensation: $665.0K
Group President and Chief Commercial Officer
Total Annual Compensation: $400.0K
Chief Financial Officer and Principal Account...
Total Annual Compensation: $445.0K
Chief Administrative Officer
Total Annual Compensation: $475.0K
Compensation as of Fiscal Year 2012.

corporate executive board co (CEB) Key Developments

Stephen J. Meyer to Leave from Corporate Executive Board Co. as President and Chief Commercial Officer, Effective June 30, 2014

On February 19, 2014, The Corporate Executive Board Company announced that Stephen J. Meyer is departing the company effective as of June 30, 2014. Mr. Meyer serves as Group President and Chief Commercial Officer of the company.

Corporate Executive Board Co. Declares Cash Dividend for the First Quarter of 2014, Payable on March 31, 2014

Corporate Executive Board Co. announced that its board of directors has approved a cash dividend on its common stock for the first quarter of 2014 of $0.2625 per share, an increase of 16.7% compared to the dividend paid in the fourth quarter of 2013. The dividend is payable on March 31, 2014 to stockholders of record on March 14, 2014.

Corporate Executive Board Co. Reports Consolidated Unaudited Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2013; Provides Earnings Guidance for the Full Year of 2014; Reports Impairment Loss for the Fourth Quarter Ended December 31, 2013

Corporate Executive Board Co. reported consolidated unaudited earnings results for the fourth quarter and full year ended December 31, 2013. For the quarter, the company revenue increased 15.3% to $223.4 million from $193.7 million in the fourth quarter of 2012. Net income was $12.6 million, or $0.37 per basic and diluted share, compared to $7.2 million, or $0.21 per basic and diluted share, in the same period of 2012. Adjusted net income was $28.8 million and Non-GAAP diluted earnings per share were $0.84 compared to $23.6 million and $0.69 in the same period of 2012, respectively. Operating profit was $33,751,000 compared to $25,374,000 a year ago. Income before provision for income taxes was $28,560,000 compared to $18,004,000 a year ago. Adjusted EBITDA was $57,729,000 compared to $54,635,000 a year ago. In 2013, the company’s revenue was $820.1 million, a 31.7% increase from $622.7 million in 2012. Net income in 2013 was $32.0 million, or $0.94 per diluted share, compared to $37.1 million, or $1.10 per diluted share, in 2012. Included in net income for 2013 is a $22.6 million goodwill impairment loss for Personnel Decision Research Institutes Inc. and $6.7 million of pre-tax debt extinguishment costs associated with the refinancing of the company's senior secured credit facilities in August 2013. Adjusted net income was $105.4 million and Non-GAAP diluted earnings per share were $3.10 compared to $86.2 million and $2.55 in 2012, respectively. Operating profit was $90,713,000 compared to $84,668,000 a year ago. Income before provision for income taxes was $60,438,000 compared to $74,620,000 a year ago. Adjusted EBITDA was $206,091,000 compared to $174,189,000 a year ago. Net cash flows provided by operating activities was $148,709,000 compared to $122,155,000 a year ago. Purchases of property and equipment were $27,026,000 compared to $17,498,000 a year ago. The company provided earnings guidance for the full year of 2014. For the full year, the company is expecting its adjusted revenue of $895 to $915 million, revenue of $892 to $912 million, capital expenditures of $30 to $34 million, Non-GAAP diluted earnings per share of $3.15 to $3.40, an adjusted EBITDA margin between 25.0% and 25.5%, and depreciation and amortization expense of $65 to $67 million. Adjusted revenue refers to revenue before the impact of the reduction of SHL revenue recognized in the post-acquisition period to reflect the adjustment of deferred revenue at the SHL acquisition date to fair value. The estimated reduction in 2014 revenue to reflect the impact of the deferred revenue fair value adjustment is approximately $3 million. Depreciation and amortization is expected to be between $65 million and $67 million. This anticipated increase over 2013 is driven by higher capital expenditures in 2014 and the completion of several multi-year projects, including implementation of a new content management system, a major upgrade to the SHL Talent Measurement client-facing platform and a new HR information system to support the company's global employee base. As a result, capital expenditures are anticipated to be approximately $30 million to $34 million, which is consistent with the 3% to 4% of revenue range that the company expects to see going forward. The company still expects an ongoing normalized effective tax rate in the range of 37% to 39% over time. For 2014, company has assumed a 39% effective tax rate. Finally, the company expects to see strong cash generation again in 2014, and that the ratio of cash flows from operations to adjusted net income will remain at a healthy multiple consistent with historical patterns. The company reported impairment loss for the fourth quarter ended December 31, 2013. For the period, the company reported impairment loss of $4,199,000 a year ago.

 

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Industry Analysis

CEB

Industry Average

Valuation CEB Industry Range
Price/Earnings 74.8x
Price/Sales 2.9x
Price/Book 16.9x
Price/Cash Flow 25.7x
TEV/Sales 2.1x
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