Grand Canyon Education (NASDAQ:LOPE) Posts Quarterly Earnings Results, Beats Estimates By $0.13 EPS

Grand Canyon Education (NASDAQ:LOPE) released its quarterly earnings data on Tuesday. The company reported $2.35 earnings per share for the quarter, beating the consensus estimate of $2.22 by $0.13, Briefing.com reports. Grand Canyon Education had a net margin of 21.33% and a return on equity of 31.75%. The firm had revenue of $274.68 million during the quarter, compared to analysts’ expectations of $272.42 million. During the same period in the previous year, the company earned $2.00 earnings per share. The firm’s quarterly revenue was up 9.8% on a year-over-year basis. Grand Canyon Education updated its Q2 guidance to $1.02-1.06 EPS and its FY24 guidance to $7.35-7.82 EPS.

Grand Canyon Education Trading Up 0.1 %

Shares of NASDAQ:LOPE traded up $0.22 during midday trading on Thursday, reaching $147.30. 63,520 shares of the company were exchanged, compared to its average volume of 200,206. The business’s fifty day moving average is $133.28 and its two-hundred day moving average is $132.36. Grand Canyon Education has a one year low of $99.65 and a one year high of $156.56. The stock has a market cap of $4.39 billion, a PE ratio of 21.63, a price-to-earnings-growth ratio of 1.19 and a beta of 0.60.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on LOPE. Robert W. Baird boosted their price objective on shares of Grand Canyon Education from $165.00 to $170.00 and gave the company an “outperform” rating in a report on Wednesday. Barrington Research upped their target price on shares of Grand Canyon Education from $160.00 to $165.00 and gave the company an “outperform” rating in a report on Wednesday. Finally, BMO Capital Markets upped their price target on shares of Grand Canyon Education from $150.00 to $155.00 and gave the stock an “outperform” rating in a research report on Wednesday.

Insider Buying and Selling

In related news, CTO Dilek Marsh sold 1,500 shares of the company’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $132.65, for a total transaction of $198,975.00. Following the completion of the transaction, the chief technology officer now owns 25,674 shares in the company, valued at $3,405,656.10. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.00% of the stock is 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.