Perdoceo Education (NASDAQ:PRDO) Announces Quarterly Earnings Results

Perdoceo Education (NASDAQ:PRDO) issued its earnings results on Tuesday. The company reported $0.59 EPS for the quarter, beating the consensus estimate of $0.53 by $0.06, Zacks reports. Perdoceo Education had a net margin of 20.42% and a return on equity of 15.58%. The company had revenue of $169.83 million during the quarter, compared to analysts’ expectations of $164.60 million. During the same period in the previous year, the company earned $0.64 EPS. The business’s revenue for the quarter was down 5.6% compared to the same quarter last year.

Perdoceo Education Price Performance

PRDO opened at $26.30 on Friday. The company’s 50 day moving average price is $22.07 and its two-hundred day moving average price is $22.33. The firm has a market capitalization of $1.73 billion, a price-to-earnings ratio of 13.22, a PEG ratio of 0.82 and a beta of 1.04. Perdoceo Education has a fifty-two week low of $16.12 and a fifty-two week high of $29.47.

Perdoceo Education Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Monday, December 2nd will be issued a $0.13 dividend. The ex-dividend date is Monday, December 2nd. This represents a $0.52 dividend on an annualized basis and a yield of 1.98%. Perdoceo Education’s dividend payout ratio (DPR) is presently 26.13%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on PRDO. Barrington Research raised their price objective on Perdoceo Education from $30.00 to $32.00 and gave the company an “outperform” rating in a research note on Wednesday. StockNews.com upgraded shares of Perdoceo Education from a “buy” rating to a “strong-buy” rating in a research note on Thursday.

Insider Transactions at Perdoceo Education

In related news, insider Michele A. Peppers sold 6,476 shares of the business’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $21.00, for a total transaction of $135,996.00. Following the transaction, the insider now owns 61,952 shares in the company, valued at $1,300,992. The trade was a 9.46 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.81% of the stock is owned by company insiders.

About Perdoceo Education

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.