Grand Canyon Education (NASDAQ:LOPE) Announces Earnings Results

Grand Canyon Education (NASDAQ:LOPE) announced its earnings results on Tuesday. The company reported $2.35 EPS for the quarter, topping the consensus estimate of $2.22 by $0.13, Briefing.com reports. The company had revenue of $274.68 million for 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 business’s revenue for the quarter was up 9.8% on a year-over-year basis. During the same period last year, the firm 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 Up 7.4 %

LOPE stock traded up $10.34 during trading on Wednesday, hitting $150.12. The company had a trading volume of 161,788 shares, compared to its average volume of 198,144. The business has a 50-day moving average of $133.01 and a 200-day moving average of $132.26. Grand Canyon Education has a one year low of $99.65 and a one year high of $156.56. The stock has a market cap of $4.47 billion, a PE ratio of 22.76, a PEG ratio of 1.19 and a beta of 0.60.

Wall Street Analyst Weigh In

Several equities analysts recently commented on LOPE shares. Robert W. Baird increased their price objective on shares of Grand Canyon Education from $165.00 to $170.00 and gave the company an “outperform” rating in a research note on Wednesday. Barrington Research restated an “outperform” rating and issued a $160.00 price target on shares of Grand Canyon Education in a research report on Thursday, April 18th.

Insider Activity

In other Grand Canyon Education news, CTO Dilek Marsh sold 1,500 shares of the company’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $132.65, for a total transaction of $198,975.00. Following 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 2.00% of the company’s stock.

Grand Canyon Education Company Profile

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.