Perdoceo Education (NASDAQ:PRDO) Announces Quarterly Earnings Results

Perdoceo Education (NASDAQ:PRDO) posted its earnings results on Thursday. The company reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.54 by $0.05, FiscalAI reports. Perdoceo Education had a return on equity of 17.22% and a net margin of 19.24%.The company had revenue of $211.64 million for the quarter, compared to analyst estimates of $209.95 million.

Perdoceo Education Stock Performance

Perdoceo Education stock traded down $0.41 during trading hours on Thursday, hitting $31.53. The stock had a trading volume of 753,801 shares, compared to its average volume of 433,054. The company has a 50-day moving average of $30.88 and a two-hundred day moving average of $32.07. The company has a quick ratio of 4.45, a current ratio of 4.47 and a debt-to-equity ratio of 0.01. Perdoceo Education has a fifty-two week low of $23.87 and a fifty-two week high of $38.02. The company has a market cap of $2.03 billion, a PE ratio of 13.47, a price-to-earnings-growth ratio of 0.76 and a beta of 0.90.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on PRDO shares. Barrington Research restated an “outperform” rating and issued a $42.00 target price on shares of Perdoceo Education in a report on Monday, January 5th. Wall Street Zen lowered shares of Perdoceo Education from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, November 12th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Perdoceo Education in a research note on Thursday, January 22nd. Two equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $42.00.

Institutional Trading of Perdoceo Education

Several institutional investors have recently made changes to their positions in the business. First Trust Advisors LP raised its position in Perdoceo Education by 10.6% in the fourth quarter. First Trust Advisors LP now owns 2,905,796 shares of the company’s stock worth $85,227,000 after purchasing an additional 278,825 shares in the last quarter. State Street Corp raised its holdings in shares of Perdoceo Education by 0.8% in the 4th quarter. State Street Corp now owns 2,411,020 shares of the company’s stock worth $70,715,000 after buying an additional 19,658 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Perdoceo Education by 6.9% in the 4th quarter. Geode Capital Management LLC now owns 1,681,424 shares of the company’s stock worth $49,324,000 after buying an additional 109,013 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Perdoceo Education by 49.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,547,405 shares of the company’s stock worth $38,964,000 after buying an additional 513,599 shares during the period. Finally, Callodine Capital Management LP boosted its stake in Perdoceo Education by 35.8% in the 4th quarter. Callodine Capital Management LP now owns 963,690 shares of the company’s stock valued at $28,265,000 after buying an additional 254,108 shares in the last quarter. 93.46% of the stock is currently owned by institutional investors and hedge funds.

Perdoceo Education Company Profile

Perdoceo Education Corporation (NASDAQ: PRDO) is a for-profit postsecondary education provider offering certificate, associate, bachelor’s and master’s degree programs. The company operates primarily through two brand platforms—Colorado Technical University and American InterContinental University—delivering career-focused education both on campus and online. These programs span fields such as business, information technology, healthcare and criminal justice, targeting working adults seeking to advance or pivot their careers.

With headquarters in Schaumburg, Illinois, Perdoceo serves students across the United States and internationally through its online offerings.