Grand Canyon Education (NASDAQ:LOPE) Releases Q3 Earnings Guidance

Grand Canyon Education (NASDAQ:LOPE) issued an update on its third quarter earnings guidance on Tuesday morning. The company provided EPS guidance of $1.37-1.43 for the period, compared to the consensus EPS estimate of $1.46. The company issued revenue guidance of $238.0-240.5 million, compared to the consensus revenue estimate of $241.02 million. Grand Canyon Education also updated its FY 2024 guidance to 7.850-8.040 EPS.

Grand Canyon Education Stock Down 3.5 %

Shares of NASDAQ:LOPE traded down $5.16 during midday trading on Wednesday, reaching $142.23. The company had a trading volume of 260,063 shares, compared to its average volume of 191,268. The stock has a market cap of $4.23 billion, a PE ratio of 20.55, a P/E/G ratio of 1.31 and a beta of 0.66. Grand Canyon Education has a 1-year low of $107.99 and a 1-year high of $157.53. The business’s 50 day moving average price is $143.83 and its 200 day moving average price is $137.69.

Grand Canyon Education (NASDAQ:LOPE) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $1.27 EPS for the quarter, topping analysts’ consensus estimates of $1.10 by $0.17. The firm had revenue of $227.50 million for the quarter, compared to analyst estimates of $223.56 million. Grand Canyon Education had a return on equity of 31.81% and a net margin of 21.66%. The company’s revenue was up 8.0% on a year-over-year basis. During the same quarter last year, the company earned $1.01 EPS. On average, research analysts expect that Grand Canyon Education will post 7.8 earnings per share for the current fiscal year.

Analyst Ratings Changes

LOPE has been the subject of several recent analyst reports. Barrington Research reaffirmed an outperform rating and set a $165.00 target price on shares of Grand Canyon Education in a research note on Wednesday. Robert W. Baird upped their price objective on shares of Grand Canyon Education from $165.00 to $170.00 and gave the stock an outperform rating in a research report on Wednesday, May 8th. Finally, BMO Capital Markets increased their price target on shares of Grand Canyon Education from $160.00 to $162.00 and gave the company an outperform rating in a research report on Wednesday.

Insiders Place Their Bets

In related news, Director Lisa Graham Keegan sold 270 shares of the business’s stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $147.96, for a total transaction of $39,949.20. Following the completion of the transaction, the director now directly owns 2,635 shares in the company, valued at $389,874.60. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other Grand Canyon Education news, insider Kathy J. Claypatch sold 1,500 shares of the company’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $149.20, for a total transaction of $223,800.00. Following the completion of the sale, the insider now directly owns 8,320 shares in the company, valued at $1,241,344. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Lisa Graham Keegan sold 270 shares of Grand Canyon Education stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $147.96, for a total value of $39,949.20. Following the completion of the transaction, the director now directly owns 2,635 shares in the company, valued at $389,874.60. The disclosure for this sale can be found here. 2.00% of the stock is owned by corporate insiders.

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.