Grand Canyon Education (NASDAQ:LOPE) Announces Quarterly Earnings Results, Beats Estimates By $0.02 EPS

Grand Canyon Education (NASDAQ:LOPE) posted its quarterly earnings results on Wednesday. The company reported $3.21 EPS for the quarter, topping analysts’ consensus estimates of $3.19 by $0.02, Zacks reports. Grand Canyon Education had a net margin of 19.38% and a return on equity of 32.41%.

Grand Canyon Education Stock Performance

LOPE traded up $5.71 during midday trading on Wednesday, reaching $168.06. 388,020 shares of the company were exchanged, compared to its average volume of 285,869. The company has a market cap of $4.70 billion, a price-to-earnings ratio of 22.65, a price-to-earnings-growth ratio of 1.06 and a beta of 0.74. Grand Canyon Education has a one year low of $149.83 and a one year high of $223.04. The company’s fifty day moving average price is $169.35 and its 200 day moving average price is $184.81.

Institutional Investors Weigh In On Grand Canyon Education

Several institutional investors have recently bought and sold shares of the stock. Bank of Montreal Can raised its position in Grand Canyon Education by 6,102.7% in the 4th quarter. Bank of Montreal Can now owns 480,460 shares of the company’s stock valued at $79,905,000 after buying an additional 472,714 shares during the last quarter. Wasatch Advisors LP grew its stake in shares of Grand Canyon Education by 48.0% in the 4th quarter. Wasatch Advisors LP now owns 483,184 shares of the company’s stock worth $80,358,000 after acquiring an additional 156,777 shares in the last quarter. AQR Capital Management LLC raised its holdings in shares of Grand Canyon Education by 30.9% in the fourth quarter. AQR Capital Management LLC now owns 649,269 shares of the company’s stock valued at $107,980,000 after purchasing an additional 153,189 shares during the last quarter. Millennium Management LLC lifted its position in shares of Grand Canyon Education by 78.5% during the third quarter. Millennium Management LLC now owns 283,710 shares of the company’s stock valued at $62,280,000 after purchasing an additional 124,769 shares in the last quarter. Finally, Boston Partners boosted its holdings in Grand Canyon Education by 31.2% during the fourth quarter. Boston Partners now owns 339,758 shares of the company’s stock worth $56,930,000 after purchasing an additional 80,704 shares during the last quarter. Institutional investors own 94.17% of the company’s stock.

Wall Street Analyst Weigh In

LOPE has been the subject of several research reports. Weiss Ratings downgraded Grand Canyon Education from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, January 13th. Barrington Research reiterated an “outperform” rating and issued a $230.00 price target on shares of Grand Canyon Education in a report on Thursday, January 22nd. Finally, Wall Street Zen cut Grand Canyon Education from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. Two research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, Grand Canyon Education has an average rating of “Moderate Buy” and a consensus price target of $220.00.

About Grand Canyon Education

Grand Canyon Education, Inc provides a suite of higher‐education services through a long-term agreement with Grand Canyon University (GCU), one of the nation’s largest private Christian universities. The company’s offerings encompass a full range of academic and operational support functions, including enrollment management, student recruitment, curriculum development, instructional delivery, and technology infrastructure. Through its online program management capabilities, Grand Canyon Education helps design, market and deliver undergraduate, graduate and certificate programs to meet the needs of both traditional and non‐traditional learners.

Core services include digital marketing, admissions support, student success coaching, learning management systems and faculty recruitment.