Grand Canyon Education (NASDAQ:LOPE) Releases Q4 2022 Earnings Guidance

Grand Canyon Education (NASDAQ:LOPEGet Rating) updated its fourth quarter 2022 earnings guidance on Monday. The company provided earnings per share (EPS) guidance of $2.08-$2.38 for the period. The company issued revenue guidance of $254.20 million-$266.80 million.Grand Canyon Education also updated its FY 2022 guidance to $5.53-$6.09 EPS.

A number of brokerages have issued reports on LOPE. TheStreet upgraded Grand Canyon Education from a c+ rating to a b rating in a research note on Tuesday, April 5th. Berenberg Bank cut Grand Canyon Education from a buy rating to a hold rating and decreased their price target for the stock from $110.00 to $86.00 in a research note on Friday, January 28th. Robert W. Baird boosted their price target on Grand Canyon Education from $95.00 to $111.00 in a research note on Thursday. Zacks Investment Research upgraded Grand Canyon Education from a sell rating to a hold rating in a research note on Wednesday, April 20th. Finally, StockNews.com upgraded Grand Canyon Education from a hold rating to a buy rating in a research note on Tuesday, May 3rd. Two equities research 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, the company currently has a consensus rating of Buy and an average target price of $100.00.

Shares of LOPE stock traded down $2.83 during mid-day trading on Monday, hitting $91.68. The company’s stock had a trading volume of 15,591 shares, compared to its average volume of 390,247. Grand Canyon Education has a 52-week low of $70.00 and a 52-week high of $102.04. The stock has a market cap of $3.01 billion, a price-to-earnings ratio of 15.80, a PEG ratio of 1.08 and a beta of 0.50. The business has a 50-day moving average price of $96.34 and a 200 day moving average price of $87.25.

Grand Canyon Education (NASDAQ:LOPEGet Rating) last issued its quarterly earnings data on Wednesday, May 4th. The company reported $1.72 EPS for the quarter, topping the consensus estimate of $1.70 by $0.02. Grand Canyon Education had a return on equity of 20.81% and a net margin of 26.59%. The company had revenue of $244.13 million during the quarter, compared to analyst estimates of $241.78 million. During the same quarter in the previous year, the company posted $1.72 earnings per share. Grand Canyon Education’s revenue was up 3.1% compared to the same quarter last year. As a group, equities research analysts predict that Grand Canyon Education will post 5.82 EPS for the current fiscal year.

In related news, insider Kathy J. Claypatch sold 800 shares of Grand Canyon Education stock in a transaction on Friday, March 11th. The stock was sold at an average price of $92.16, for a total value of $73,728.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.30% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the business. Invesco Ltd. grew its holdings in Grand Canyon Education by 1.0% during the fourth quarter. Invesco Ltd. now owns 101,787 shares of the company’s stock valued at $8,723,000 after purchasing an additional 960 shares during the period. Millennium Management LLC grew its holdings in Grand Canyon Education by 45.3% during 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 period. D. E. Shaw & Co. Inc. bought a new stake in Grand Canyon Education during the fourth quarter valued at about $2,914,000. Marshall Wace LLP bought a new stake in Grand Canyon Education during the fourth quarter valued at about $1,001,000. Finally, MML Investors Services LLC grew its holdings 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 valued at $748,000 after purchasing an additional 585 shares during the period. 91.04% of the stock is owned by institutional investors and hedge funds.

Grand Canyon Education Company Profile (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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