Grand Canyon Education (NASDAQ:LOPE) Updates FY 2024 Earnings Guidance

Grand Canyon Education (NASDAQ:LOPE) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided earnings per share guidance of 7.570-8.040 for the period, compared to the consensus earnings per share estimate of 7.650. The company issued revenue guidance of $1.0 billion-$1.0 billion, compared to the consensus revenue estimate of $1.0 billion. Grand Canyon Education also updated its Q2 2024 guidance to 1.070-1.110 EPS.

Grand Canyon Education Stock Up 1.1 %

NASDAQ:LOPE opened at $139.78 on Wednesday. The stock has a market capitalization of $4.16 billion, a PE ratio of 20.56, a price-to-earnings-growth ratio of 1.19 and a beta of 0.60. Grand Canyon Education has a 52 week low of $99.65 and a 52 week high of $144.94. The stock’s 50-day moving average price is $133.01 and its 200-day moving average price is $132.26.

Grand Canyon Education (NASDAQ:LOPE) last posted its quarterly earnings data on Tuesday, May 7th. The company reported $2.35 EPS for the quarter, topping the consensus estimate of $2.22 by $0.13. The company had revenue of $274.68 million during the quarter, compared to analyst estimates of $272.42 million. Grand Canyon Education had a return on equity of 31.75% and a net margin of 21.33%. Grand Canyon Education’s quarterly revenue was up 9.8% on a year-over-year basis. During the same period in the previous year, the business earned $2.00 EPS. Sell-side analysts expect that Grand Canyon Education will post 7.65 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

LOPE has been the topic of a number of research analyst reports. Barrington Research reissued an outperform rating and issued a $160.00 price target on shares of Grand Canyon Education in a research note on Thursday, April 18th. Robert W. Baird upped their price target on Grand Canyon Education from $165.00 to $170.00 and gave the company an outperform rating in a report on Wednesday.

Insider Activity

In other Grand Canyon Education news, CTO Dilek Marsh sold 1,500 shares of Grand Canyon Education stock in a transaction on Monday, March 18th. The shares were sold at an average price of $132.65, for a total value of $198,975.00. Following the transaction, the chief technology officer now directly owns 25,674 shares in the company, valued at $3,405,656.10. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 2.00% of the company’s stock.

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.