Grand Canyon Education (NASDAQ:LOPE) Issues Quarterly Earnings Results, Beats Expectations By $0.02 EPS

Grand Canyon Education (NASDAQ:LOPE) announced its quarterly earnings data on Wednesday. The company reported $2.95 earnings per share for the quarter, topping the consensus estimate of $2.93 by $0.02, Zacks reports. Grand Canyon Education had a return on equity of 30.91% and a net margin of 21.90%. The company had revenue of $292.57 million during the quarter, compared to analyst estimates of $289.62 million.

Grand Canyon Education Stock Performance

Shares of NASDAQ:LOPE traded down $1.27 during midday trading on Friday, reaching $186.01. 47,308 shares of the company’s stock traded hands, compared to its average volume of 147,035. The stock has a 50 day moving average of $170.74 and a 200 day moving average of $155.40. The company has a market cap of $5.42 billion, a price-to-earnings ratio of 24.03, a P/E/G ratio of 1.39 and a beta of 0.74. Grand Canyon Education has a one year low of $126.17 and a one year high of $192.18.

Analysts Set New Price Targets

Several research analysts have commented on LOPE shares. StockNews.com downgraded Grand Canyon Education from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. Robert W. Baird boosted their target price on Grand Canyon Education from $170.00 to $186.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Barrington Research boosted their target price on Grand Canyon Education from $180.00 to $205.00 and gave the company an “outperform” rating in a research note on Thursday. Finally, BMO Capital Markets upped their price target on Grand Canyon Education from $152.00 to $173.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th.

Insiders Place Their Bets

In related news, CTO Dilek Marsh sold 1,500 shares of the stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $166.07, for a total transaction of $249,105.00. Following the completion of the sale, the chief technology officer now owns 21,174 shares in the company, valued at approximately $3,516,366.18. This trade represents a 6.62 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 2.00% of the company’s stock.

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.