K12 (NYSE:LRN) Announces Quarterly Earnings Results, Beats Estimates By $0.05 EPS

K12 (NYSE:LRN) announced its earnings results on Tuesday. The company reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.05, Briefing.com reports. The business had revenue of $256.31 million for the quarter, compared to analysts’ expectations of $248.43 million. K12 had a return on equity of 6.19% and a net margin of 3.66%. The business’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.23 EPS.

NYSE LRN traded up $0.24 during midday trading on Friday, hitting $28.95. 355,462 shares of the company traded hands, compared to its average volume of 314,142. The company has a current ratio of 3.51, a quick ratio of 3.39 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $1.15 billion, a P/E ratio of 31.81, a PEG ratio of 2.14 and a beta of 0.06. The firm has a 50-day simple moving average of $30.12. K12 has a 52 week low of $16.12 and a 52 week high of $37.43.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. First Trust Advisors LP raised its stake in K12 by 0.9% in the 1st quarter. First Trust Advisors LP now owns 68,385 shares of the company’s stock worth $2,334,000 after acquiring an additional 578 shares during the last quarter. State Board of Administration of Florida Retirement System raised its stake in K12 by 2.2% in the 2nd quarter. State Board of Administration of Florida Retirement System now owns 28,590 shares of the company’s stock worth $869,000 after acquiring an additional 620 shares during the last quarter. Investors Research Corp purchased a new position in K12 in the 1st quarter worth $27,000. Financial Gravity Wealth Inc. purchased a new position in K12 in the 2nd quarter worth $28,000. Finally, Legal & General Group Plc raised its stake in K12 by 17.4% in the 4th quarter. Legal & General Group Plc now owns 6,774 shares of the company’s stock worth $168,000 after acquiring an additional 1,005 shares during the last quarter. 86.56% of the stock is currently owned by institutional investors and hedge funds.

Several analysts have issued reports on the company. Zacks Investment Research raised K12 from a “hold” rating to a “buy” rating and set a $31.00 target price on the stock in a research report on Friday. Barrington Research reaffirmed a “buy” rating and set a $40.00 target price on shares of K12 in a research report on Thursday, June 13th. ValuEngine cut K12 from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. BMO Capital Markets dropped their target price on K12 to $33.00 and set an “outperform” rating on the stock in a research report on Thursday. Finally, Sidoti raised K12 from a “neutral” rating to a “buy” rating in a research report on Wednesday. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $33.25.

About K12

K12 Inc, a technology-based education company, together with its subsidiaries, provides online curriculum, software systems, and educational services to facilitate individualized learning for students primarily in kindergarten through 12th grade in the United States and internationally. The company also offers curriculum and technology solutions for full-time virtual and blended programs; full-time virtual programs, semester courses, and supplemental educational products; teacher training, teaching, and other academic and technology support services to public schools, school districts, private schools, charter schools, early childhood learning centers, and corporate partners.

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Earnings History for K12 (NYSE:LRN)

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