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

Grand Canyon Education (NASDAQ:LOPEGet Rating) issued an update on its second quarter earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $0.80-0.87 for the period, compared to the consensus estimate of $0.85. The company issued revenue guidance of $199.5-202.7 million, compared to the consensus revenue estimate of $201.40 million.Grand Canyon Education also updated its FY22 guidance to $5.53-6.09 EPS.

LOPE stock traded down $3.68 during mid-day trading on Friday, hitting $94.51. 554,624 shares of the company were exchanged, compared to its average volume of 328,167. Grand Canyon Education has a 1-year low of $70.00 and a 1-year high of $102.04. The firm’s 50 day simple moving average is $96.34 and its 200 day simple moving average is $87.31. The firm has a market cap of $3.10 billion, a P/E ratio of 15.80, a P/E/G ratio of 1.08 and a beta of 0.50.

Grand Canyon Education (NASDAQ:LOPEGet Rating) last issued its quarterly earnings data on Wednesday, May 4th. The company reported $1.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.70 by $0.02. The company had revenue of $244.13 million during the quarter, compared to the consensus estimate of $241.78 million. Grand Canyon Education had a net margin of 26.59% and a return on equity of 18.37%. The firm’s revenue was up 3.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.72 earnings per share. On average, equities research analysts forecast that Grand Canyon Education will post 5.82 EPS for the current fiscal year.

A number of analysts have recently commented on the company. TheStreet upgraded Grand Canyon Education from a c+ rating to a b rating in a report on Tuesday, April 5th. Robert W. Baird upped their price target on Grand Canyon Education from $95.00 to $111.00 in a research report on Thursday. StockNews.com upgraded shares of Grand Canyon Education from a hold rating to a buy rating in a report on Tuesday. Barrington Research increased their target price on shares of Grand Canyon Education from $100.00 to $110.00 in a report on Thursday. Finally, Zacks Investment Research raised shares of Grand Canyon Education from a sell rating to a hold rating in a research report on Wednesday, April 20th. Two analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Grand Canyon Education has an average rating of Buy and an average target price of $100.00.

In related news, insider Kathy J. Claypatch sold 800 shares of the firm’s stock in a transaction on Friday, March 11th. The shares were sold at an average price of $92.16, for a total value of $73,728.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 1.30% of the stock is owned by insiders.

Large investors have recently modified their holdings of the stock. LPL Financial LLC raised its stake in Grand Canyon Education by 10.6% in the third quarter. LPL Financial LLC now owns 3,382 shares of the company’s stock valued at $297,000 after buying an additional 324 shares during the period. Invesco Ltd. raised its stake in Grand Canyon Education by 1.0% in the 4th quarter. Invesco Ltd. now owns 101,787 shares of the company’s stock valued at $8,723,000 after acquiring an additional 960 shares during the period. D. E. Shaw & Co. Inc. acquired a new stake in Grand Canyon Education during the 4th quarter valued at $2,914,000. MML Investors Services LLC boosted its position in Grand Canyon Education by 7.2% during the fourth quarter. MML Investors Services LLC now owns 8,731 shares of the company’s stock worth $748,000 after purchasing an additional 585 shares during the period. Finally, Millennium Management LLC increased its holdings in shares of Grand Canyon Education by 45.3% in the fourth quarter. Millennium Management LLC now owns 79,368 shares of the company’s stock valued at $6,803,000 after purchasing an additional 24,742 shares during the last quarter. Institutional investors and hedge funds own 91.04% of the company’s stock.

About Grand Canyon Education (Get Rating)

Grand Canyon Education, Inc provides education services to colleges and universities in the United States. The company's technology services include learning management system, internal administration, infrastructure, and support services; academic services comprises program and curriculum, faculty and related training and development, class scheduling, and skills and simulation lab sites; and counseling services and support include admission, financial aid, and field experience and other counseling services.

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