Zacks: Brokerages Anticipate Grand Canyon Education Inc (NASDAQ:LOPE) Will Announce Quarterly Sales of $191.72 Million

Equities research analysts expect that Grand Canyon Education Inc (NASDAQ:LOPE) will post sales of $191.72 million for the current quarter, according to Zacks. Two analysts have issued estimates for Grand Canyon Education’s earnings, with the highest sales estimate coming in at $191.74 million and the lowest estimate coming in at $191.70 million. Grand Canyon Education reported sales of $155.45 million during the same quarter last year, which indicates a positive year over year growth rate of 23.3%. The firm is scheduled to announce its next quarterly earnings report after the market closes on Wednesday, November 6th.

According to Zacks, analysts expect that Grand Canyon Education will report full-year sales of $777.73 million for the current financial year, with estimates ranging from $777.71 million to $777.75 million. For the next fiscal year, analysts expect that the firm will post sales of $862.54 million, with estimates ranging from $862.09 million to $863.00 million. Zacks Investment Research’s sales averages are an average based on a survey of research firms that that provide coverage for Grand Canyon Education.

Grand Canyon Education (NASDAQ:LOPE) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $1.09 earnings per share for the quarter, topping the consensus estimate of $0.94 by $0.15. The business had revenue of $174.82 million during the quarter, compared to the consensus estimate of $173.40 million. Grand Canyon Education had a net margin of 33.14% and a return on equity of 21.06%. The firm’s revenue for the quarter was down 26.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.95 earnings per share.

LOPE has been the subject of several recent research reports. Zacks Investment Research downgraded shares of Grand Canyon Education from a “buy” rating to a “hold” rating in a research note on Wednesday, October 9th. ValuEngine raised shares of Grand Canyon Education from a “hold” rating to a “buy” rating in a research note on Wednesday, September 4th. Robert W. Baird set a $145.00 price objective on shares of Grand Canyon Education and gave the company a “buy” rating in a research note on Wednesday, July 31st. Barrington Research set a $145.00 price objective on shares of Grand Canyon Education and gave the company a “buy” rating in a research note on Wednesday, October 9th. Finally, BidaskClub downgraded shares of Grand Canyon Education from a “sell” rating to a “strong sell” rating in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $139.25.

Grand Canyon Education stock traded down $0.08 during mid-day trading on Friday, hitting $92.37. The company’s stock had a trading volume of 9,436 shares, compared to its average volume of 377,468. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.96 and a quick ratio of 0.96. The stock has a market cap of $4.56 billion, a price-to-earnings ratio of 18.15, a price-to-earnings-growth ratio of 1.17 and a beta of 0.70. The business has a 50 day moving average price of $104.84 and a 200-day moving average price of $116.96. Grand Canyon Education has a 12 month low of $90.67 and a 12 month high of $132.72.

In related news, insider Dilek Marsh sold 1,000 shares of the stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $126.83, for a total value of $126,830.00. Following the completion of the transaction, the insider now directly owns 26,624 shares of the company’s stock, valued at $3,376,721.92. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Joseph N. Mildenhall sold 2,000 shares of the stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $126.20, for a total transaction of $252,400.00. Following the completion of the transaction, the insider now directly owns 58,809 shares of the company’s stock, valued at $7,421,695.80. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 5,000 shares of company stock valued at $596,730. Insiders own 2.00% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in the stock. William Blair Investment Management LLC raised its stake in Grand Canyon Education by 30.9% in the second quarter. William Blair Investment Management LLC now owns 2,338,224 shares of the company’s stock worth $273,619,000 after buying an additional 552,523 shares in the last quarter. Victory Capital Management Inc. grew its holdings in Grand Canyon Education by 61.9% in the second quarter. Victory Capital Management Inc. now owns 857,677 shares of the company’s stock worth $100,366,000 after purchasing an additional 327,914 shares during the period. GW&K Investment Management LLC grew its holdings in Grand Canyon Education by 20.2% in the second quarter. GW&K Investment Management LLC now owns 805,012 shares of the company’s stock worth $94,203,000 after purchasing an additional 135,348 shares during the period. Conestoga Capital Advisors LLC grew its holdings in Grand Canyon Education by 2.5% in the second quarter. Conestoga Capital Advisors LLC now owns 789,573 shares of the company’s stock worth $92,396,000 after purchasing an additional 19,089 shares during the period. Finally, TimesSquare Capital Management LLC grew its holdings in Grand Canyon Education by 93.9% in the second quarter. TimesSquare Capital Management LLC now owns 738,700 shares of the company’s stock worth $86,443,000 after purchasing an additional 357,655 shares during the period. 97.31% of the stock is owned by institutional investors.

Grand Canyon Education Company Profile

Grand Canyon Education, Inc provides education services in the United States. It offers technology and academic, counseling and support, and marketing and communication services, as well as back office services, such as financial aid processing, accounting, reporting, tax, human resources, and procurement services to the Grand Canyon University.

Recommended Story: Cash Flow Analysis in Stock Selection

Get a free copy of the Zacks research report on Grand Canyon Education (LOPE)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Grand Canyon Education (NASDAQ:LOPE)

Receive News & Ratings for Grand Canyon Education Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Grand Canyon Education and related companies with MarketBeat.com's FREE daily email newsletter.