Perdoceo Education Co. (NASDAQ:PRDO) Plans $0.13 Quarterly Dividend

Perdoceo Education Co. (NASDAQ:PRDO) declared a quarterly dividend on Thursday, November 14th,Wall Street Journal reports. Investors of record on Monday, December 2nd will be given a dividend of 0.13 per share on Friday, December 13th. This represents a $0.52 annualized dividend and a dividend yield of 1.98%. The ex-dividend date of this dividend is Monday, December 2nd.

Perdoceo Education has a dividend payout ratio of 23.1% meaning its dividend is sufficiently covered by earnings. Research analysts expect Perdoceo Education to earn $2.36 per share next year, which means the company should continue to be able to cover its $0.52 annual dividend with an expected future payout ratio of 22.0%.

Perdoceo Education Trading Down 5.9 %

NASDAQ:PRDO opened at $26.30 on Friday. Perdoceo Education has a twelve month low of $16.12 and a twelve month high of $29.47. The firm has a market capitalization of $1.73 billion, a price-to-earnings ratio of 13.22, a PEG ratio of 0.82 and a beta of 1.04. The firm’s fifty day simple moving average is $22.07 and its 200 day simple moving average is $22.33.

Perdoceo Education (NASDAQ:PRDO) last released its quarterly earnings results on Tuesday, November 12th. The company reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.53 by $0.06. Perdoceo Education had a net margin of 20.42% and a return on equity of 15.58%. The firm had revenue of $169.83 million for the quarter, compared to the consensus estimate of $164.60 million. During the same quarter in the previous year, the firm posted $0.64 EPS. The firm’s quarterly revenue was down 5.6% on a year-over-year basis. On average, analysts predict that Perdoceo Education will post 2.27 earnings per share for the current year.

Insider Activity at Perdoceo Education

In related news, insider Michele A. Peppers sold 6,476 shares of Perdoceo Education stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $21.00, for a total transaction of $135,996.00. Following the completion of the transaction, the insider now directly owns 61,952 shares of the company’s stock, valued at $1,300,992. This trade represents a 9.46 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.81% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research firms have commented on PRDO. StockNews.com upgraded shares of Perdoceo Education from a “buy” rating to a “strong-buy” rating in a research report on Thursday. Barrington Research increased their target price on shares of Perdoceo Education from $30.00 to $32.00 and gave the company an “outperform” rating in a research note on Wednesday.

About Perdoceo Education

Perdoceo Education Corporation provides postsecondary education through online, campus-based, and blended learning programs in the United States. It operates in two segments, Colorado Technical University and The American InterContinental University System. The Colorado Technical University segment offers academic programs, such as business and management, nursing, healthcare management, computer science, engineering, information systems and technology, project management, cybersecurity, and criminal justice.