Perdoceo Education (NASDAQ:PRDO) Releases Q2 2022 Earnings Guidance

Perdoceo Education (NASDAQ:PRDOGet Rating) updated its second quarter 2022 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $0.36-$0.38 for the period, compared to the consensus estimate of $0.27. The company issued revenue guidance of -.Perdoceo Education also updated its FY 2022 guidance to $1.32-$1.44 EPS.

A number of research firms have issued reports on PRDO. Zacks Investment Research raised shares of Perdoceo Education from a hold rating to a buy rating and set a $11.00 price objective for the company in a report on Thursday, May 12th. StockNews.com upgraded Perdoceo Education from a buy rating to a strong-buy rating in a research report on Thursday, May 12th. Finally, Barrington Research reiterated a buy rating and issued a $16.00 price target on shares of Perdoceo Education in a research note on Friday, February 25th.

Shares of Perdoceo Education stock opened at $10.50 on Thursday. Perdoceo Education has a one year low of $9.65 and a one year high of $13.15. The business has a 50-day simple moving average of $11.20 and a 200 day simple moving average of $11.06. The firm has a market capitalization of $722.19 million, a price-to-earnings ratio of 6.69, a PEG ratio of 0.49 and a beta of 1.16.

Perdoceo Education (NASDAQ:PRDOGet Rating) last posted its earnings results on Thursday, February 24th. The company reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.08. The firm had revenue of $159.86 million during the quarter, compared to analyst estimates of $166.02 million. Perdoceo Education had a net margin of 16.03% and a return on equity of 19.23%. On average, sell-side analysts predict that Perdoceo Education will post 1.38 earnings per share for the current fiscal year.

In other Perdoceo Education news, CFO Ashish R. Ghia sold 22,973 shares of the stock in a transaction that occurred on Monday, April 11th. The shares were sold at an average price of $11.44, for a total transaction of $262,811.12. Following the transaction, the chief financial officer now directly owns 194,887 shares in the company, valued at $2,229,507.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Elise Baskel sold 9,508 shares of Perdoceo Education stock in a transaction dated Friday, April 1st. The stock was sold at an average price of $11.53, for a total value of $109,627.24. Following the completion of the transaction, the senior vice president now owns 78,555 shares in the company, valued at approximately $905,739.15. The disclosure for this sale can be found here. Insiders sold a total of 88,997 shares of company stock worth $981,656 over the last 90 days. 2.89% of the stock is currently owned by company insiders.

Several institutional investors have recently made changes to their positions in the stock. Vident Investment Advisory LLC boosted its holdings in shares of Perdoceo Education by 3.4% during the 4th quarter. Vident Investment Advisory LLC now owns 55,386 shares of the company’s stock valued at $652,000 after buying an additional 1,817 shares in the last quarter. Engineers Gate Manager LP lifted its stake in Perdoceo Education by 53.9% during the 1st quarter. Engineers Gate Manager LP now owns 46,759 shares of the company’s stock valued at $537,000 after acquiring an additional 16,371 shares during the period. Mirabella Financial Services LLP purchased a new stake in Perdoceo Education in the first quarter worth approximately $497,000. MetLife Investment Management LLC grew its holdings in shares of Perdoceo Education by 55.4% in the first quarter. MetLife Investment Management LLC now owns 38,316 shares of the company’s stock worth $440,000 after acquiring an additional 13,662 shares during the period. Finally, Advisor Group Holdings Inc. grew its stake in shares of Perdoceo Education by 642.9% during the 1st quarter. Advisor Group Holdings Inc. now owns 25,794 shares of the company’s stock valued at $358,000 after purchasing an additional 22,322 shares during the period. Institutional investors own 88.00% of the company’s stock.

About Perdoceo Education (Get Rating)

Perdoceo Education Corporation provides postsecondary education through online, campus-based, and blended learning programs in the United States. The company operates in two segments, Colorado Technical University and American InterContinental University. It offers academic programs in the career-oriented disciplines of business and management, nursing, healthcare management, computer science, engineering, information systems and technology, project management, cybersecurity, and criminal justice, as well as business studies, information technologies, education, and health sciences.

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