Grand Canyon Education, Inc. (LOPE) Expected to Post Quarterly Sales of $231.16 Million
Equities research analysts predict that Grand Canyon Education, Inc. (NASDAQ:LOPE) will post sales of $231.16 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Grand Canyon Education’s earnings. The lowest sales estimate is $231.00 million and the highest is $231.31 million. Grand Canyon Education posted sales of $210.44 million during the same quarter last year, which would indicate a positive year over year growth rate of 9.8%. The firm is expected to report its next quarterly earnings report on Wednesday, November 1st.
On average, analysts expect that Grand Canyon Education will report full year sales of $231.16 million for the current fiscal year, with estimates ranging from $964.41 million to $965.89 million. For the next year, analysts forecast that the business will report sales of $1.04 billion per share. Zacks’ sales averages are an average based on a survey of analysts that follow Grand Canyon Education.
Grand Canyon Education (NASDAQ:LOPE) last posted its quarterly earnings results on Tuesday, August 1st. The company reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.15. The business had revenue of $218.30 million during the quarter, compared to the consensus estimate of $213.08 million. Grand Canyon Education had a net margin of 18.77% and a return on equity of 21.77%. The firm’s revenue for the quarter was up 14.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.59 earnings per share.
Several research firms have commented on LOPE. BidaskClub lowered shares of Grand Canyon Education from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, June 27th. BMO Capital Markets reissued a “buy” rating and issued a $85.00 price objective on shares of Grand Canyon Education in a research note on Monday, September 18th. Zacks Investment Research downgraded shares of Grand Canyon Education from a “buy” rating to a “hold” rating and set a $91.00 target price on the stock. in a report on Wednesday, June 21st. Barrington Research restated an “outperform” rating and issued a $89.00 target price (up from $85.00) on shares of Grand Canyon Education in a report on Tuesday, August 8th. Finally, ValuEngine upgraded shares of Grand Canyon Education from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $79.80.
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Grand Canyon Education (NASDAQ LOPE) traded up 1.81% during mid-day trading on Friday, reaching $92.46. 297,239 shares of the company’s stock traded hands. The firm’s 50-day moving average price is $82.68 and its 200 day moving average price is $77.76. The firm has a market cap of $4.45 billion, a price-to-earnings ratio of 25.54 and a beta of 1.39. Grand Canyon Education has a one year low of $39.68 and a one year high of $92.70.
In other Grand Canyon Education news, CEO Brian E. Mueller sold 29,788 shares of the business’s stock in a transaction on Monday, July 10th. The shares were sold at an average price of $77.12, for a total transaction of $2,297,250.56. Following the transaction, the chief executive officer now owns 311,312 shares in the company, valued at $24,008,381.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO William Stan Meyer sold 20,000 shares of the business’s stock in a transaction on Monday, July 10th. The shares were sold at an average price of $77.14, for a total transaction of $1,542,800.00. Following the transaction, the chief operating officer now owns 118,459 shares in the company, valued at approximately $9,137,927.26. The disclosure for this sale can be found here. Insiders have sold a total of 66,231 shares of company stock worth $5,128,139 in the last 90 days. 3.00% of the stock is currently owned by insiders.
Several institutional investors and hedge funds have recently made changes to their positions in LOPE. Alps Advisors Inc. lifted its holdings in shares of Grand Canyon Education by 0.3% in the 2nd quarter. Alps Advisors Inc. now owns 7,113 shares of the company’s stock worth $558,000 after acquiring an additional 19 shares during the last quarter. Teacher Retirement System of Texas boosted its stake in shares of Grand Canyon Education by 1.3% during the 2nd quarter. Teacher Retirement System of Texas now owns 3,619 shares of the company’s stock worth $284,000 after purchasing an additional 48 shares during the period. Granite Investment Partners LLC boosted its stake in shares of Grand Canyon Education by 0.4% during the 2nd quarter. Granite Investment Partners LLC now owns 21,645 shares of the company’s stock worth $1,697,000 after purchasing an additional 87 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Grand Canyon Education by 8.2% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,827 shares of the company’s stock worth $143,000 after purchasing an additional 139 shares during the period. Finally, Wrapmanager Inc. boosted its stake in shares of Grand Canyon Education by 3.3% during the 2nd quarter. Wrapmanager Inc. now owns 4,650 shares of the company’s stock worth $365,000 after purchasing an additional 147 shares during the period. 96.57% of the stock is currently owned by institutional investors and hedge funds.
About Grand Canyon Education
Grand Canyon Education, Inc is engaged in the provision of postsecondary education. The Company is a regionally accredited university. The Company offers the degrees, including Doctor of Education, Doctor of Business Administration, Doctor of Nursing Practice, Doctor of Philosophy, Education Specialist, Master of Divinity, Master of Arts, Master of Education, Master of Business Administration and Master of Public Administration, Master of Public Health, Master of Science, Bachelor of Arts, Bachelor of Science, and a range of programs for its degrees.
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