Grand Canyon Education (NASDAQ:LOPE) Releases FY 2024 Earnings Guidance

Grand Canyon Education (NASDAQ:LOPE) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of 7.570-8.040 for the period, compared to the consensus estimate of 7.650. The company issued revenue guidance of $1.0 billion-$1.0 billion, compared to the consensus revenue estimate of $1.0 billion. Grand Canyon Education also updated its Q2 2024 guidance to 1.070-1.110 EPS.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on LOPE shares. Robert W. Baird upped their target price on Grand Canyon Education from $165.00 to $170.00 and gave the company an outperform rating in a report on Wednesday. Barrington Research reiterated an outperform rating and issued a $160.00 price objective on shares of Grand Canyon Education in a research note on Thursday, April 18th.

Grand Canyon Education Price Performance

Shares of NASDAQ LOPE opened at $139.78 on Wednesday. Grand Canyon Education has a one year low of $99.65 and a one year high of $144.94. The business’s 50-day moving average price is $133.01 and its two-hundred day moving average price is $132.26. The company has a market capitalization of $4.16 billion, a P/E ratio of 20.56, a price-to-earnings-growth ratio of 1.19 and a beta of 0.60.

Grand Canyon Education (NASDAQ:LOPE) last posted its quarterly earnings data on Tuesday, May 7th. The company reported $2.35 earnings per share for the quarter, topping the consensus estimate of $2.22 by $0.13. The business had revenue of $274.68 million during the quarter, compared to analysts’ expectations of $272.42 million. Grand Canyon Education had a return on equity of 31.75% and a net margin of 21.33%. The firm’s revenue was up 9.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.00 EPS. On average, equities analysts anticipate that Grand Canyon Education will post 7.65 EPS for the current year.

Insider Buying and Selling

In other news, CTO Dilek Marsh sold 1,500 shares of the company’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $132.65, for a total transaction of $198,975.00. Following the completion of the transaction, the chief technology officer now owns 25,674 shares of the company’s stock, valued at $3,405,656.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.00% of the stock is currently owned by insiders.

Grand Canyon Education Company Profile

Grand Canyon Education, Inc provides education services to colleges and universities in the United States. It offers technology services, including learning management system, internal administration, infrastructure, and support services; academic services, such as program and curriculum, faculty and related training and development, class scheduling, and skills and simulation lab sites; and counseling services and support services comprising admission, financial aid, and field experience and other counseling services.