Grand Canyon Education (NASDAQ:LOPE) Issues Q4 Earnings Guidance

Grand Canyon Education (NASDAQ:LOPE) updated its fourth quarter earnings guidance on Wednesday. The company provided earnings per share guidance of $2.86-$2.89 for the period, compared to the consensus earnings per share estimate of $2.91. The company issued revenue guidance of $289-$290 million, compared to the consensus revenue estimate of $289.30 million. Grand Canyon Education also updated its FY 2024 guidance to 8.020-8.050 EPS.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. BMO Capital Markets lifted their price target on shares of Grand Canyon Education from $152.00 to $173.00 and gave the stock an “outperform” rating in a research note on Thursday. Robert W. Baird boosted their price objective on Grand Canyon Education from $170.00 to $186.00 and gave the company an “outperform” rating in a report on Thursday. Barrington Research raised their price objective on Grand Canyon Education from $165.00 to $180.00 and gave the stock an “outperform” rating in a research note on Thursday. Finally, StockNews.com raised shares of Grand Canyon Education from a “hold” rating to a “buy” rating in a report on Thursday.

Grand Canyon Education Price Performance

Shares of LOPE stock traded up $8.98 during trading hours on Friday, reaching $172.52. The stock had a trading volume of 495,741 shares, compared to its average volume of 181,000. The firm has a 50-day simple moving average of $139.96 and a 200-day simple moving average of $141.66. The firm has a market capitalization of $5.08 billion, a PE ratio of 23.38, a price-to-earnings-growth ratio of 1.15 and a beta of 0.70. Grand Canyon Education has a twelve month low of $118.48 and a twelve month high of $172.88.

Grand Canyon Education (NASDAQ:LOPE) last released its quarterly earnings results on Wednesday, November 6th. The company reported $1.48 EPS for the quarter, topping analysts’ consensus estimates of $1.46 by $0.02. Grand Canyon Education had a net margin of 21.88% and a return on equity of 31.49%. The company had revenue of $238.30 million for the quarter, compared to the consensus estimate of $239.69 million. During the same period in the previous year, the firm earned $1.26 EPS. Grand Canyon Education’s revenue was up 7.4% on a year-over-year basis. On average, equities analysts anticipate that Grand Canyon Education will post 7.98 earnings per share for the current year.

Insiders Place Their Bets

In other Grand Canyon Education news, CTO Dilek Marsh sold 1,500 shares of the business’s stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $141.23, for a total transaction of $211,845.00. Following the sale, the chief technology officer now directly owns 22,674 shares of the company’s stock, valued at $3,202,249.02. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 2.00% of the stock is currently owned by company insiders.

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.