Grand Canyon Education (NASDAQ:LOPE) Issues Q4 Earnings Guidance

Grand Canyon Education (NASDAQ:LOPE) updated its fourth quarter earnings guidance on Wednesday. The company provided EPS guidance of $2.86-$2.89 for the period, compared to the consensus EPS estimate of $2.91. The company issued revenue guidance of $289-$290 million, compared to the consensus revenue estimate of $289.30 million. Grand Canyon Education also updated its FY 2024 guidance to 8.020-8.050 EPS.

Grand Canyon Education Stock Performance

NASDAQ:LOPE traded up $20.40 during mid-day trading on Wednesday, hitting $160.15. 616,474 shares of the company’s stock traded hands, compared to its average volume of 177,970. The company has a market capitalization of $4.72 billion, a P/E ratio of 21.33, a P/E/G ratio of 1.14 and a beta of 0.70. The company has a fifty day moving average of $138.68 and a 200 day moving average of $141.07. Grand Canyon Education has a twelve month low of $118.48 and a twelve month high of $161.39.

Grand Canyon Education (NASDAQ:LOPE) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $1.27 earnings per share for the quarter, beating analysts’ consensus estimates of $1.10 by $0.17. Grand Canyon Education had a net margin of 21.88% and a return on equity of 31.49%. The firm had revenue of $227.50 million for the quarter, compared to analyst estimates of $223.56 million. During the same period in the previous year, the company earned $1.01 earnings per share. The business’s quarterly revenue was up 8.0% compared to the same quarter last year. On average, research analysts expect that Grand Canyon Education will post 7.98 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on LOPE. BMO Capital Markets boosted their target price on shares of Grand Canyon Education from $160.00 to $162.00 and gave the company an “outperform” rating in a research report on Wednesday, August 7th. Barrington Research restated an “outperform” rating and issued a $165.00 target price on shares of Grand Canyon Education in a research note on Friday, September 20th. Finally, StockNews.com lowered Grand Canyon Education from a “buy” rating to a “hold” rating in a research report on Wednesday, October 9th.

Insider Buying and Selling at Grand Canyon Education

In other news, CTO Dilek Marsh sold 1,500 shares of the company’s stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $141.23, for a total transaction of $211,845.00. Following the completion of the transaction, the chief technology officer now directly owns 22,674 shares of the company’s stock, valued at $3,202,249.02. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. 2.00% of the stock is owned by corporate insiders.

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.