Zacks: Analysts Anticipate Stride, Inc. (NYSE:LRN) Will Announce Quarterly Sales of $422.24 Million

Equities research analysts forecast that Stride, Inc. (NYSE:LRNGet Rating) will report $422.24 million in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have issued estimates for Stride’s earnings. The highest sales estimate is $424.13 million and the lowest is $421.10 million. Stride posted sales of $397.51 million during the same quarter last year, which suggests a positive year-over-year growth rate of 6.2%. The firm is scheduled to announce its next earnings report on Monday, January 1st.

On average, analysts expect that Stride will report full year sales of $1.65 billion for the current fiscal year, with estimates ranging from $1.65 billion to $1.66 billion. For the next financial year, analysts forecast that the company will report sales of $1.75 billion, with estimates ranging from $1.70 billion to $1.78 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that follow Stride.

Stride (NYSE:LRNGet Rating) last posted its quarterly earnings data on Tuesday, April 19th. The company reported $1.02 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.84 by $0.18. The company had revenue of $421.72 million during the quarter, compared to analyst estimates of $410.73 million. Stride had a return on equity of 11.78% and a net margin of 5.50%. The firm’s quarterly revenue was up 7.5% on a year-over-year basis. During the same quarter last year, the company earned $0.57 earnings per share.

A number of research firms have weighed in on LRN. StockNews.com upgraded Stride from a “hold” rating to a “buy” rating in a research report on Friday, April 22nd. Morgan Stanley raised their price target on Stride from $36.00 to $39.00 and gave the company an “equal weight” rating in a research report on Wednesday, April 20th. Zacks Investment Research upgraded Stride from a “hold” rating to a “buy” rating and set a $45.00 price target on the stock in a research report on Friday, April 22nd. Finally, Barrington Research raised their price target on Stride from $45.00 to $50.00 in a research report on Wednesday, April 20th.

NYSE LRN opened at $39.30 on Friday. The stock’s 50-day simple moving average is $34.90 and its two-hundred day simple moving average is $34.09. Stride has a twelve month low of $25.55 and a twelve month high of $41.20. The company has a quick ratio of 3.33, a current ratio of 3.48 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $1.68 billion, a price-to-earnings ratio of 18.54, a PEG ratio of 0.74 and a beta of 0.45.

In other news, Chairman Nathaniel A. Davis sold 47,983 shares of Stride stock in a transaction dated Thursday, April 28th. The stock was sold at an average price of $39.00, for a total value of $1,871,337.00. Following the transaction, the chairman now owns 227,803 shares in the company, valued at $8,884,317. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 6.14% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of LRN. Brown Advisory Inc. grew its stake in shares of Stride by 145.9% in the fourth quarter. Brown Advisory Inc. now owns 972,831 shares of the company’s stock worth $32,424,000 after purchasing an additional 577,161 shares during the last quarter. Morgan Stanley grew its stake in shares of Stride by 39.8% in the second quarter. Morgan Stanley now owns 1,431,342 shares of the company’s stock worth $45,990,000 after purchasing an additional 407,717 shares during the last quarter. Fuller & Thaler Asset Management Inc. grew its stake in shares of Stride by 80.1% in the third quarter. Fuller & Thaler Asset Management Inc. now owns 675,220 shares of the company’s stock worth $24,267,000 after purchasing an additional 300,294 shares during the last quarter. Norges Bank bought a new stake in shares of Stride in the fourth quarter worth about $9,839,000. Finally, Polar Asset Management Partners Inc. bought a new stake in shares of Stride in the third quarter worth about $10,272,000. 87.62% of the stock is currently owned by institutional investors.

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.

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