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

Grand Canyon Education (NASDAQ:LOPE) announced its quarterly earnings results on Tuesday. The company reported $2.35 earnings per share for the quarter, topping the consensus estimate of $2.22 by $0.13, Briefing.com reports. The firm had revenue of $274.68 million during the quarter, compared to analysts’ expectations of $272.42 million. Grand Canyon Education had a net margin of 21.33% and a return on equity of 31.75%. The company’s revenue was up 9.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.00 EPS. 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

NASDAQ LOPE traded up $10.21 on Wednesday, hitting $149.99. The stock had a trading volume of 192,926 shares, compared to its average volume of 198,564. The business’s fifty day moving average price is $133.01 and its 200 day moving average price is $132.26. The stock has a market cap of $4.47 billion, a price-to-earnings ratio of 22.76, a price-to-earnings-growth 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.

Insider Activity

In other Grand Canyon Education news, CTO Dilek Marsh sold 1,500 shares of the firm’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $132.65, for a total value of $198,975.00. Following the completion of the sale, the chief technology officer now owns 25,674 shares of the company’s stock, valued at $3,405,656.10. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 2.00% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Barrington Research reaffirmed an “outperform” rating and set a $160.00 target price on shares of Grand Canyon Education in a research report on Thursday, April 18th. Robert W. Baird raised their price objective on Grand Canyon Education from $165.00 to $170.00 and gave the company an “outperform” rating in a research report on Wednesday.

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.