Perdoceo Education (NASDAQ:PRDO) Issues Earnings Results, Beats Estimates By $0.07 EPS

Perdoceo Education (NASDAQ:PRDO) announced its quarterly earnings data on Wednesday. The company reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.53 by $0.07, Briefing.com reports. Perdoceo Education had a net margin of 22.35% and a return on equity of 17.33%. The company had revenue of $168.30 million during the quarter, compared to the consensus estimate of $163.30 million. During the same quarter last year, the firm posted $0.58 EPS. The company’s quarterly revenue was down 14.0% on a year-over-year basis.

Perdoceo Education Stock Performance

Shares of PRDO traded up $0.08 during trading hours on Friday, hitting $24.19. 744,094 shares of the stock were exchanged, compared to its average volume of 529,315. The stock’s 50-day moving average price is $17.77 and its two-hundred day moving average price is $17.70. The company has a market cap of $1.59 billion, a price-to-earnings ratio of 10.66, a price-to-earnings-growth ratio of 0.58 and a beta of 0.93. Perdoceo Education has a 12-month low of $11.50 and a 12-month high of $24.66.

Perdoceo Education Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Saturday, June 15th. Shareholders of record on Saturday, June 1st will be issued a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 1.82%. The ex-dividend date of this dividend is Friday, May 31st. Perdoceo Education’s dividend payout ratio is presently 19.38%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Barrington Research boosted their target price on shares of Perdoceo Education from $23.00 to $25.00 and gave the stock an “outperform” rating in a report on Thursday. StockNews.com downgraded shares of Perdoceo Education from a “strong-buy” rating to a “buy” rating in a research note on Thursday, April 25th.

Insider Buying and Selling

In related news, CFO Ashish R. Ghia sold 11,412 shares of the firm’s stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $19.00, for a total value of $216,828.00. Following the completion of the transaction, the chief financial officer now directly owns 226,234 shares of the company’s stock, valued at approximately $4,298,446. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Perdoceo Education news, CFO Ashish R. Ghia sold 11,412 shares of the stock in a transaction on Friday, April 26th. The stock was sold at an average price of $19.00, for a total transaction of $216,828.00. Following the completion of the transaction, the chief financial officer now directly owns 226,234 shares of the company’s stock, valued at approximately $4,298,446. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Todd S. Nelson sold 16,000 shares of the stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $17.23, for a total value of $275,680.00. Following the completion of the sale, the chief executive officer now owns 713,367 shares of the company’s stock, valued at approximately $12,291,313.41. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 75,412 shares of company stock valued at $1,342,428. Corporate insiders own 1.81% of the company’s stock.

Perdoceo Education Company Profile

Perdoceo Education Corporation provides postsecondary education through online, campus-based, and blended learning programs in the United States. It operates in two segments, Colorado Technical University and The American InterContinental University System. The Colorado Technical University segment offers academic programs, such as business and management, nursing, healthcare management, computer science, engineering, information systems and technology, project management, cybersecurity, and criminal justice.