Stride, Inc. (NYSE:LRN) Expected to Announce Quarterly Sales of $367.20 Million

Analysts forecast that Stride, Inc. (NYSE:LRN) will post sales of $367.20 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Stride’s earnings. The lowest sales estimate is $362.00 million and the highest is $372.40 million. Stride posted sales of $370.96 million during the same quarter last year, which suggests a negative year-over-year growth rate of 1%. The business is scheduled to report its next earnings results after the market closes on Tuesday, October 19th.

According to Zacks, analysts expect that Stride will report full year sales of $1.50 billion for the current year, with estimates ranging from $1.46 billion to $1.52 billion. For the next year, analysts forecast that the firm will report sales of $1.59 billion, with estimates ranging from $1.54 billion to $1.62 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover Stride.

Stride (NYSE:LRN) last issued its quarterly earnings results on Tuesday, August 10th. The company reported $0.25 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.15 by $0.10. Stride had a return on equity of 9.33% and a net margin of 4.65%. The business had revenue of $397.50 million for the quarter, compared to the consensus estimate of $388.79 million. During the same quarter in the prior year, the business posted $0.12 earnings per share. The firm’s quarterly revenue was up 47.8% compared to the same quarter last year.

LRN has been the subject of a number of research reports. Citigroup initiated coverage on Stride in a research note on Tuesday, September 14th. They issued a “buy” rating and a $65.00 price target for the company. Zacks Investment Research cut Stride from a “strong-buy” rating to a “strong sell” rating in a research note on Wednesday. One analyst has rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $43.50.

NYSE LRN traded up $0.62 on Monday, hitting $34.40. 5,823 shares of the company’s stock were exchanged, compared to its average volume of 649,926. The stock has a 50-day moving average of $34.28 and a 200-day moving average of $31.56. The company has a current ratio of 2.80, a quick ratio of 2.67 and a debt-to-equity ratio of 0.42. Stride has a 52 week low of $20.39 and a 52 week high of $37.60. The stock has a market cap of $1.43 billion, a price-to-earnings ratio of 19.87, a P/E/G ratio of 0.83 and a beta of 0.62.

Several large investors have recently modified their holdings of the company. Daiwa Securities Group Inc. purchased a new stake in Stride in the 2nd quarter valued at $31,000. Ameritas Investment Company LLC purchased a new stake in shares of Stride in the 1st quarter valued at $38,000. Parkside Financial Bank & Trust boosted its stake in shares of Stride by 47.3% in the 2nd quarter. Parkside Financial Bank & Trust now owns 2,129 shares of the company’s stock valued at $68,000 after purchasing an additional 684 shares in the last quarter. FORA Capital LLC boosted its stake in shares of Stride by 164.3% in the 2nd quarter. FORA Capital LLC now owns 3,074 shares of the company’s stock valued at $99,000 after purchasing an additional 1,911 shares in the last quarter. Finally, Public Employees Retirement System of Ohio boosted its position in Stride by 12.8% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 3,296 shares of the company’s stock valued at $106,000 after buying an additional 375 shares during the period. 87.42% of the stock is currently owned by institutional investors.

About Stride

Stride, Inc is a technology-based educational company, which offers proprietary and third party curriculum, software systems and educational services. It also offers online curriculum and career services to middle and high school students, under the Destinations Career Academy brand name. The company was founded by Ronald J.

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Earnings History and Estimates for Stride (NYSE:LRN)

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