Grand Canyon Education (NASDAQ:LOPE) Releases Q2 Earnings Guidance

Grand Canyon Education (NASDAQ:LOPE) issued an update on its second quarter earnings guidance on Tuesday morning. The company provided earnings per share guidance of $1.02-1.06 for the period, compared to the consensus earnings per share estimate of $1.07. The company issued revenue guidance of $222-224 million, compared to the consensus revenue estimate of $223.21 million. Grand Canyon Education also updated its FY24 guidance to $7.35-7.82 EPS.

Grand Canyon Education Price Performance

Shares of LOPE traded up $1.66 during mid-day trading on Thursday, hitting $148.74. The stock had a trading volume of 188,926 shares, compared to its average volume of 201,524. The firm has a market cap of $4.43 billion, a P/E ratio of 21.63, a PEG ratio of 1.19 and a beta of 0.60. Grand Canyon Education has a 52 week low of $99.65 and a 52 week high of $156.56. The business has a fifty day moving average price of $133.28 and a 200-day moving average price of $132.36.

Grand Canyon Education (NASDAQ:LOPE) last posted its earnings results 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 firm had revenue of $274.68 million during the quarter, compared to the consensus estimate of $272.42 million. Grand Canyon Education had a net margin of 21.33% and a return on equity of 31.75%. The company’s revenue was up 9.8% on a year-over-year basis. During the same quarter last year, the company earned $2.00 earnings per share. As a group, research analysts expect that Grand Canyon Education will post 7.65 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

LOPE has been the topic of a number of analyst reports. Barrington Research boosted their price objective on Grand Canyon Education from $160.00 to $165.00 and gave the company an outperform rating in a research note on Wednesday. BMO Capital Markets increased their price target on shares of Grand Canyon Education from $150.00 to $155.00 and gave the stock an outperform rating in a report on Wednesday. Finally, Robert W. Baird upped their target price on shares of Grand Canyon Education from $165.00 to $170.00 and gave the stock an outperform rating in a report on Wednesday.

Insiders Place Their Bets

In other Grand Canyon Education news, CTO Dilek Marsh sold 1,500 shares of Grand Canyon Education stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $132.65, for a total value of $198,975.00. Following the transaction, the chief technology officer now directly owns 25,674 shares of the company’s stock, valued at approximately $3,405,656.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.00% of the stock is 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.