Perdoceo Education Corporation (NASDAQ:PRDO) to Issue Quarterly Dividend of $0.17

Perdoceo Education Corporation (NASDAQ:PRDO) announced a quarterly dividend on Thursday, November 5th. Investors of record on Friday, November 27th will be paid a dividend of $0.17 per share on Tuesday, December 1st. This represents a $0.68 annualized dividend and a dividend yield of 2.4%. The ex-dividend date is Friday, November 27th.

Perdoceo Education has a dividend payout ratio of 27.6% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Perdoceo Education to earn $3.30 per share next year, which means the company should continue to be able to cover its $0.68 annual dividend with an expected future payout ratio of 20.6%.

Perdoceo Education Stock Performance

Shares of PRDO stock opened at $28.41 on Friday. The company has a market cap of $1.78 billion, a P/E ratio of 10.24, a PEG ratio of 0.64 and a beta of 0.76. The stock has a 50 day simple moving average of $32.29 and a two-hundred day simple moving average of $33.29. Perdoceo Education has a fifty-two week low of $26.41 and a fifty-two week high of $38.50.

Perdoceo Education (NASDAQ:PRDO) last posted its quarterly earnings results on Thursday, November 5th. The company reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.74 by $0.03. Perdoceo Education had a return on equity of 18.93% and a net margin of 20.62%. The firm had revenue of $215.86 million for the quarter, compared to analysts’ expectations of $211.07 million. During the same period in the prior year, the business earned $0.60 EPS. The company’s revenue for the quarter was up 1.9% compared to the same quarter last year. On average, research analysts predict that Perdoceo Education will post 3.13 earnings per share for the current year.

Analyst Upgrades and Downgrades

PRDO has been the subject of several research reports. Weiss Ratings reissued a “buy (b)” rating on shares of Perdoceo Education in a research report on Thursday, October 15th. Wall Street Zen downgraded shares of Perdoceo Education from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. Two research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $44.00.

About Perdoceo Education

Perdoceo Education Corporation (NASDAQ: PRDO) is a provider of postsecondary education focused primarily on online learning. Through its institutions, the company offers career-oriented academic programs designed for working adults and other nontraditional students.

Perdoceo’s education brands include American InterContinental University and Colorado Technical University, which offer associate, bachelor’s, master’s and doctoral degree programs in areas such as business, information technology, healthcare, criminal justice and engineering.