Stride (NYSE:LRN) Issues Earnings Results

Stride (NYSE:LRNGet Rating) issued its quarterly earnings data on Tuesday. The company reported $1.02 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.84 by $0.18, MarketWatch Earnings reports. Stride had a return on equity of 9.25% and a net margin of 4.40%. The company had revenue of $421.72 million during the quarter, compared to analysts’ expectations of $410.73 million. During the same quarter in the previous year, the business earned $0.57 earnings per share. The firm’s revenue for the quarter was up 7.5% on a year-over-year basis. Stride updated its FY 2022 guidance to EPS.

LRN stock traded up $0.55 on Tuesday, reaching $35.41. 497,992 shares of the company’s stock were exchanged, compared to its average volume of 503,238. The stock has a fifty day moving average of $34.26 and a 200-day moving average of $33.97. Stride has a twelve month low of $25.55 and a twelve month high of $38.40. The firm has a market cap of $1.52 billion, a PE ratio of 21.20, a P/E/G ratio of 0.72 and a beta of 0.45. The company has a quick ratio of 3.33, a current ratio of 3.43 and a debt-to-equity ratio of 0.62.

Hedge funds have recently made changes to their positions in the stock. Bank Julius Baer & Co. Ltd Zurich purchased a new stake in shares of Stride in the fourth quarter valued at $380,000. Comerica Bank increased its stake in Stride by 1.5% during the fourth quarter. Comerica Bank now owns 26,635 shares of the company’s stock worth $719,000 after acquiring an additional 400 shares during the last quarter. Royal Bank of Canada increased its stake in Stride by 6.4% during the third quarter. Royal Bank of Canada now owns 32,881 shares of the company’s stock worth $1,181,000 after acquiring an additional 1,965 shares during the last quarter. Parametric Portfolio Associates LLC grew its stake in shares of Stride by 4.6% in the fourth quarter. Parametric Portfolio Associates LLC now owns 57,575 shares of the company’s stock valued at $1,919,000 after buying an additional 2,555 shares in the last quarter. Finally, California State Teachers Retirement System grew its stake in shares of Stride by 3.2% in the fourth quarter. California State Teachers Retirement System now owns 57,703 shares of the company’s stock valued at $1,923,000 after buying an additional 1,782 shares in the last quarter. 87.62% of the stock is currently owned by hedge funds and other institutional investors.

A number of brokerages have weighed in on LRN. StockNews.com began coverage on Stride in a research note on Thursday, March 31st. They issued a “hold” rating for the company. Morgan Stanley boosted their price objective on Stride from $35.00 to $36.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 26th. Finally, Zacks Investment Research lowered Stride from a “buy” rating to a “hold” rating in a report on Wednesday, March 30th. Three research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $46.67.

About Stride (Get Rating)

Stride, Inc, a technology-based education company, provides proprietary and third-party online curriculum, software systems, and educational services to facilitate individualized learning for students primarily in kindergarten through 12th grade (K-12) in the United States and internationally. Its technology-based products and services enable clients to attract, enroll, educate, track progress, and support students.

Further Reading

Earnings History for Stride (NYSE:LRN)

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