Perdoceo Education Co. (NASDAQ:PRDO) Declares $0.11 Quarterly Dividend

Perdoceo Education Co. (NASDAQ:PRDO) announced a quarterly dividend on Wednesday, May 1st, Zacks reports. Shareholders of record on Saturday, June 1st will be given a dividend of 0.11 per share on Saturday, June 15th. This represents a $0.44 annualized dividend and a yield of 1.81%. The ex-dividend date is Friday, May 31st.

Perdoceo Education has a dividend payout ratio of 20.0% meaning its dividend is sufficiently covered by earnings. Research analysts expect Perdoceo Education to earn $2.30 per share next year, which means the company should continue to be able to cover its $0.44 annual dividend with an expected future payout ratio of 19.1%.

Perdoceo Education Trading Up 1.0 %

Perdoceo Education stock traded up $0.23 during mid-day trading on Friday, hitting $24.34. The company had a trading volume of 1,290,775 shares, compared to its average volume of 535,903. The company has a market capitalization of $1.60 billion, a PE ratio of 10.66, a price-to-earnings-growth ratio of 0.58 and a beta of 0.93. Perdoceo Education has a 12 month low of $11.50 and a 12 month high of $24.66. The stock’s 50 day moving average price is $17.77 and its two-hundred day moving average price is $17.70.

Perdoceo Education (NASDAQ:PRDO) last announced its quarterly earnings results on Wednesday, May 1st. The company reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.53 by $0.07. The firm had revenue of $168.30 million for the quarter, compared to the consensus estimate of $163.30 million. Perdoceo Education had a return on equity of 17.33% and a net margin of 22.35%. The company’s quarterly revenue was down 14.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.58 earnings per share. Equities research analysts anticipate that Perdoceo Education will post 2.12 EPS for the current year.

Wall Street Analyst Weigh In

PRDO has been the topic of a number of research analyst reports. Barrington Research upped their price target on Perdoceo Education from $23.00 to $25.00 and gave the company an “outperform” rating in a report on Thursday. StockNews.com cut Perdoceo Education from a “strong-buy” rating to a “buy” rating in a research report on Thursday, April 25th.

Insider Activity at Perdoceo Education

In related news, CEO Todd S. Nelson sold 16,000 shares of the company’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $17.65, for a total transaction of $282,400.00. Following the completion of the sale, the chief executive officer now owns 681,367 shares in the company, valued at $12,026,127.55. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CFO Ashish R. Ghia sold 11,412 shares of the stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $19.00, for a total value of $216,828.00. Following the sale, the chief financial officer now directly owns 226,234 shares in the company, valued at $4,298,446. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Todd S. Nelson sold 16,000 shares of the stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $17.65, for a total value of $282,400.00. Following the completion of the sale, the chief executive officer now owns 681,367 shares in the company, valued at $12,026,127.55. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 75,412 shares of company stock worth $1,342,428. 1.81% of the stock is owned by insiders.

Perdoceo Education Company Profile

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.