Grand Canyon Education (NASDAQ:LOPE) Posts Earnings Results, Beats Expectations By $0.13 EPS

Grand Canyon Education (NASDAQ:LOPE) announced its quarterly earnings data on Tuesday. The company reported $2.35 EPS for the quarter, topping analysts’ consensus estimates of $2.22 by $0.13, Briefing.com reports. Grand Canyon Education had a return on equity of 31.75% and a net margin of 21.33%. The business had revenue of $274.68 million during the quarter, compared to analysts’ expectations of $272.42 million. During the same period in the previous year, the firm earned $2.00 earnings per share. The firm’s quarterly revenue was up 9.8% compared to the same quarter last year. Grand Canyon Education updated its Q2 guidance to $1.02-1.06 EPS and its FY24 guidance to $7.35-7.82 EPS.

Grand Canyon Education Trading Up 0.1 %

Shares of LOPE stock traded up $0.22 on Thursday, hitting $147.30. 63,520 shares of the stock were exchanged, compared to its average volume of 200,206. The firm has a market capitalization of $4.39 billion, a P/E ratio of 21.63, a price-to-earnings-growth ratio of 1.19 and a beta of 0.60. The business has a 50-day moving average of $133.28 and a 200 day moving average of $132.36. Grand Canyon Education has a fifty-two week low of $99.65 and a fifty-two week high of $156.56.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on LOPE shares. Barrington Research lifted their price objective on Grand Canyon Education from $160.00 to $165.00 and gave the stock an “outperform” rating in a research note on Wednesday. BMO Capital Markets boosted their target price on Grand Canyon Education from $150.00 to $155.00 and gave the company an “outperform” rating in a research note on Wednesday. Finally, Robert W. Baird boosted their target price on Grand Canyon Education from $165.00 to $170.00 and gave the company an “outperform” rating in a research note on Wednesday.

Insider Buying and Selling

In related news, CTO Dilek Marsh sold 1,500 shares of the stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $132.65, for a total transaction of $198,975.00. Following the sale, the chief technology officer now owns 25,674 shares of the company’s stock, valued at $3,405,656.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.00% of the stock is currently owned by corporate insiders.

Grand Canyon Education Company Profile

Grand Canyon Education, Inc provides education services to colleges and universities in the United States. It offers technology services, including learning management system, internal administration, infrastructure, and support services; academic services, such as program and curriculum, faculty and related training and development, class scheduling, and skills and simulation lab sites; and counseling services and support services comprising admission, financial aid, and field experience and other counseling services.