Perdoceo Education (NASDAQ:PRDO) Posts Earnings Results, Beats Expectations By $0.07 EPS

Perdoceo Education (NASDAQ:PRDO) posted its quarterly earnings results on Wednesday. The company reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.53 by $0.07, Briefing.com reports. Perdoceo Education had a net margin of 22.35% and a return on equity of 17.09%. The firm had revenue of $168.30 million for the quarter, compared to analysts’ expectations of $163.30 million. During the same period in the prior year, the business posted $0.58 earnings per share. The business’s revenue for the quarter was down 14.0% on a year-over-year basis.

Perdoceo Education Stock Up 1.0 %

PRDO stock traded up $0.23 during trading on Friday, hitting $24.34. 1,290,777 shares of the company’s stock traded hands, compared to its average volume of 666,381. The firm has a market capitalization of $1.60 billion, a P/E ratio of 10.72, a PEG ratio of 0.76 and a beta of 0.93. Perdoceo Education has a 1 year low of $11.50 and a 1 year high of $24.66. The business has a fifty day simple moving average of $17.90 and a two-hundred day simple moving average of $17.74.

Perdoceo Education Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, June 15th. Stockholders of record on Saturday, June 1st will be paid a dividend of $0.11 per share. The ex-dividend date is Friday, May 31st. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.81%. Perdoceo Education’s dividend payout ratio is presently 19.38%.

Insiders Place Their Bets

In other news, CFO Ashish R. Ghia sold 11,412 shares of the business’s stock in a transaction on Friday, April 26th. The stock was sold at an average price of $19.00, for a total value of $216,828.00. Following the completion of the transaction, the chief financial officer now directly owns 226,234 shares of the company’s stock, valued at approximately $4,298,446. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other Perdoceo Education news, CEO Todd S. Nelson sold 16,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $17.65, for a total value of $282,400.00. Following the completion of the sale, the chief executive officer now directly owns 681,367 shares in the company, valued at $12,026,127.55. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Ashish R. Ghia sold 11,412 shares of the company’s stock in a transaction on Friday, April 26th. The stock was sold at an average price of $19.00, for a total value of $216,828.00. Following the transaction, the chief financial officer now directly owns 226,234 shares in the company, valued at $4,298,446. The disclosure for this sale can be found here. Insiders sold a total of 75,412 shares of company stock worth $1,342,428 over the last 90 days. Company insiders own 1.81% of the company’s stock.

Analyst Ratings Changes

PRDO has been the topic of a number of research reports. Barrington Research raised their target price on shares of Perdoceo Education from $23.00 to $25.00 and gave the stock an “outperform” rating in a research report on Thursday. StockNews.com lowered Perdoceo Education from a “strong-buy” rating to a “buy” rating in a research report on Thursday, April 25th.

Perdoceo Education Company Profile

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.