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

Grand Canyon Education (NASDAQ:LOPE) released its quarterly earnings data on Tuesday. The company reported $2.35 earnings per share for the quarter, beating the consensus estimate of $2.22 by $0.13, Briefing.com reports. The business had revenue of $274.68 million for the quarter, compared to analyst estimates of $272.42 million. Grand Canyon Education had a return on equity of 31.75% and a net margin of 21.33%. The company’s revenue was up 9.8% compared to the same quarter last year. During the same period in the previous year, the company posted $2.00 EPS. 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 Price Performance

Grand Canyon Education stock traded up $10.34 during midday trading on Wednesday, hitting $150.12. 161,788 shares of the company were exchanged, compared to its average volume of 198,144. The company has a market cap of $4.47 billion, a PE ratio of 22.76, a price-to-earnings-growth ratio of 1.19 and a beta of 0.60. Grand Canyon Education has a fifty-two week low of $99.65 and a fifty-two week high of $156.56. The company’s fifty day moving average price is $133.01 and its 200-day moving average price is $132.26.

Insider Buying and Selling at Grand Canyon Education

In related news, CTO Dilek Marsh sold 1,500 shares of Grand Canyon Education stock in a transaction on Monday, March 18th. The shares were 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 approximately $3,405,656.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 2.00% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Robert W. Baird lifted their price target on shares of Grand Canyon Education from $165.00 to $170.00 and gave the company an “outperform” rating in a research report on Wednesday. Barrington Research restated an “outperform” rating and set a $160.00 target price on shares of Grand Canyon Education in a report on Thursday, April 18th.

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.