Grand Canyon Education (NASDAQ:LOPE) Releases FY24 Earnings Guidance

Grand Canyon Education (NASDAQ:LOPE) updated its FY24 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $7.35-7.82 for the period, compared to the consensus estimate of $7.65. The company issued revenue guidance of $1.02-1.04 billion, compared to the consensus revenue estimate of $1.03 billion. Grand Canyon Education also updated its Q2 guidance to $1.02-1.06 EPS.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Barrington Research lifted their price objective on Grand Canyon Education from $160.00 to $165.00 and gave the stock an outperform rating in a research report on Wednesday. Robert W. Baird lifted their price objective on Grand Canyon Education from $165.00 to $170.00 and gave the stock an outperform rating in a research report on Wednesday. Finally, BMO Capital Markets lifted their price objective on Grand Canyon Education from $150.00 to $155.00 and gave the stock an outperform rating in a research report on Wednesday.

Grand Canyon Education Stock Performance

Shares of NASDAQ LOPE traded down $0.63 during mid-day trading on Friday, hitting $148.63. 96,831 shares of the stock traded hands, compared to its average volume of 201,409. Grand Canyon Education has a 52 week low of $99.65 and a 52 week high of $156.56. The company has a market cap of $4.43 billion, a price-to-earnings ratio of 20.88, a PEG ratio of 1.19 and a beta of 0.60. The stock has a fifty day moving average price of $133.57 and a 200-day moving average price of $132.48.

Grand Canyon Education (NASDAQ:LOPE) last released its quarterly earnings results on Tuesday, May 7th. The company reported $2.35 earnings per share for the quarter, beating the consensus estimate of $2.22 by $0.13. Grand Canyon Education had a return on equity of 31.75% and a net margin of 21.33%. The company had revenue of $274.68 million for the quarter, compared to analyst estimates of $272.42 million. During the same period in the previous year, the company posted $2.00 earnings per share. The firm’s revenue was up 9.8% on a year-over-year basis. As a group, sell-side analysts predict that Grand Canyon Education will post 7.65 EPS for the current fiscal year.

Insiders Place Their Bets

In other Grand Canyon Education news, CTO Dilek Marsh sold 1,500 shares of the business’s stock in a transaction 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 sale, the chief technology officer now directly owns 25,674 shares of the company’s stock, valued at $3,405,656.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 2.00% of the company’s stock.

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.