Grand Canyon Education, Inc. (LOPE) Expected to Announce Quarterly Sales of $231.16 Million
Analysts forecast that Grand Canyon Education, Inc. (NASDAQ:LOPE) will report sales of $231.16 million for the current quarter, according to Zacks. Two analysts have provided estimates for Grand Canyon Education’s earnings, with estimates ranging from $231.00 million to $231.31 million. Grand Canyon Education posted sales of $210.44 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 9.8%. The business is scheduled to issue its next earnings results on Wednesday, November 1st.
According to Zacks, analysts expect that Grand Canyon Education will report full-year sales of $231.16 million for the current fiscal year, with estimates ranging from $957.60 million to $965.89 million. For the next financial year, analysts expect that the business will report sales of $1.04 billion per share. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Grand Canyon Education.
Grand Canyon Education (NASDAQ:LOPE) last posted its quarterly earnings data on Tuesday, August 1st. The company reported $0.83 EPS for the quarter, topping the Zacks’ consensus estimate of $0.68 by $0.15. Grand Canyon Education had a return on equity of 21.77% and a net margin of 18.77%. The company had revenue of $218.30 million for the quarter, compared to the consensus estimate of $213.08 million. During the same quarter in the previous year, the business earned $0.59 EPS. The company’s quarterly revenue was up 14.1% compared to the same quarter last year.
LOPE has been the topic of a number of recent research reports. Zacks Investment Research lowered Grand Canyon Education from a “buy” rating to a “hold” rating in a research report on Saturday, June 3rd. Barrington Research increased their price objective on Grand Canyon Education from $68.00 to $85.00 and gave the company an “outperform” rating in a research report on Monday, May 15th. BidaskClub upgraded Grand Canyon Education from a “sell” rating to a “hold” rating in a research report on Monday, August 7th. Finally, ValuEngine upgraded Grand Canyon Education from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $78.50.
In other news, COO William Stan Meyer sold 1,315 shares of the stock in a transaction on Thursday, August 10th. The stock was sold at an average price of $80.35, for a total value of $105,660.25. Following the transaction, the chief operating officer now owns 99,774 shares of the company’s stock, valued at approximately $8,016,840.90. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Brian E. Mueller sold 30,000 shares of the stock in a transaction on Monday, June 12th. The shares were sold at an average price of $79.34, for a total value of $2,380,200.00. Following the completion of the transaction, the chief executive officer now directly owns 311,524 shares in the company, valued at approximately $24,716,314.16. The disclosure for this sale can be found here. Insiders sold a total of 130,231 shares of company stock worth $10,207,539 over the last quarter. Corporate insiders own 3.00% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Dynamic Technology Lab Private Ltd increased its position in Grand Canyon Education by 363.4% in the second quarter. Dynamic Technology Lab Private Ltd now owns 13,397 shares of the company’s stock worth $1,051,000 after buying an additional 10,506 shares during the period. Public Employees Retirement System of Ohio increased its position in Grand Canyon Education by 1,586.9% in the second quarter. Public Employees Retirement System of Ohio now owns 23,330 shares of the company’s stock worth $1,829,000 after buying an additional 21,947 shares during the period. Ameritas Investment Partners Inc. increased its position in Grand Canyon Education by 6.1% in the second quarter. Ameritas Investment Partners Inc. now owns 4,119 shares of the company’s stock worth $323,000 after buying an additional 235 shares during the period. Nomura Holdings Inc. bought a new position in Grand Canyon Education during the second quarter worth $455,000. Finally, The Manufacturers Life Insurance Company increased its position in Grand Canyon Education by 4.2% in the second quarter. The Manufacturers Life Insurance Company now owns 36,026 shares of the company’s stock worth $2,825,000 after buying an additional 1,461 shares during the period. 96.15% of the stock is currently owned by institutional investors.
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Shares of Grand Canyon Education (NASDAQ:LOPE) opened at 81.17 on Tuesday. Grand Canyon Education has a 1-year low of $39.07 and a 1-year high of $85.94. The stock has a 50 day moving average price of $77.97 and a 200-day moving average price of $73.31. The company has a market cap of $3.84 billion, a P/E ratio of 22.40 and a beta of 1.48.
Grand Canyon Education Company Profile
Grand Canyon Education, Inc is engaged in the provision of postsecondary education. The Company is a regionally accredited university. The Company offers the degrees, including Doctor of Education, Doctor of Business Administration, Doctor of Nursing Practice, Doctor of Philosophy, Education Specialist, Master of Divinity, Master of Arts, Master of Education, Master of Business Administration and Master of Public Administration, Master of Public Health, Master of Science, Bachelor of Arts, Bachelor of Science, and a range of programs for its degrees.
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