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

Grand Canyon Education (NASDAQ:LOPE) posted its quarterly earnings data on Tuesday. The company reported $2.35 EPS 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 the consensus estimate of $272.42 million. Grand Canyon Education had a return on equity of 31.75% and a net margin of 21.33%. Grand Canyon Education’s revenue for the quarter was up 9.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.00 earnings per share. 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 Down 0.5 %

LOPE stock traded down $0.72 during trading on Friday, reaching $148.54. The stock had a trading volume of 16,967 shares, compared to its average volume of 200,454. The firm has a market cap of $4.42 billion, a PE ratio of 20.88, a PEG ratio of 1.19 and a beta of 0.60. Grand Canyon Education has a 52 week low of $99.65 and a 52 week high of $156.56. The stock’s 50 day moving average is $133.57 and its two-hundred day moving average is $132.48.

Analysts Set New Price Targets

Several brokerages have commented on LOPE. BMO Capital Markets raised their price target on shares of Grand Canyon Education from $150.00 to $155.00 and gave the company an “outperform” rating in a report on Wednesday. Barrington Research boosted their price objective on Grand Canyon Education from $160.00 to $165.00 and gave the stock an “outperform” rating in a report on Wednesday. Finally, Robert W. Baird raised their price target on Grand Canyon Education from $165.00 to $170.00 and gave the company an “outperform” rating in a research report on Wednesday.

Insider Buying and Selling

In related news, CTO Dilek Marsh sold 1,500 shares of the stock in a transaction dated Monday, March 18th. The stock was 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 owns 25,674 shares in the company, valued at $3,405,656.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 2.00% of the stock is owned by insiders.

About Grand Canyon Education

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.