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

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

Shares of NASDAQ LOPE traded up $10.21 during trading on Wednesday, hitting $149.99. 192,926 shares of the company were exchanged, compared to its average volume of 198,564. The firm’s fifty day moving average price is $133.01 and its 200 day moving average price is $132.26. The company has a market cap of $4.47 billion, a price-to-earnings ratio of 22.76, a PEG ratio of 1.19 and a beta of 0.60. Grand Canyon Education has a 1 year low of $99.65 and a 1 year high of $156.56.

Analyst Upgrades and Downgrades

LOPE has been the topic of several recent research reports. Barrington Research restated an “outperform” rating and issued a $160.00 price target on shares of Grand Canyon Education in a research report on Thursday, April 18th. Robert W. Baird raised their target price on shares of Grand Canyon Education from $165.00 to $170.00 and gave the stock an “outperform” rating in a research note on Wednesday.

Insider Activity

In other news, CTO Dilek Marsh sold 1,500 shares of Grand Canyon Education stock in a transaction that occurred 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 completion of the sale, the chief technology officer now directly owns 25,674 shares in the company, valued at approximately $3,405,656.10. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 2.00% of the company’s stock.

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.