Stride (LRN) Set to Announce Earnings on Tuesday

Stride (NYSE:LRN) will be releasing its earnings data after the market closes on Tuesday, April 23rd. Analysts expect Stride to post earnings of $1.47 per share for the quarter. Stride has set its Q3 2024 guidance at EPS and its FY 2024 guidance at EPS.Parties that are interested in participating in the company’s conference call can do so using this link.

Stride (NYSE:LRN) last posted its quarterly earnings results on Tuesday, January 23rd. The company reported $1.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.31 by $0.23. The business had revenue of $504.87 million for the quarter, compared to analysts’ expectations of $498.05 million. Stride had a return on equity of 17.77% and a net margin of 8.80%. The firm’s quarterly revenue was up 10.1% compared to the same quarter last year. During the same quarter last year, the business earned $1.19 earnings per share. On average, analysts expect Stride to post $4 EPS for the current fiscal year and $5 EPS for the next fiscal year.

Stride Price Performance

Stride stock opened at $58.42 on Tuesday. The business’s 50-day simple moving average is $60.59 and its 200 day simple moving average is $57.72. The stock has a market cap of $2.53 billion, a price-to-earnings ratio of 14.75, a P/E/G ratio of 0.69 and a beta of 0.26. Stride has a 12-month low of $35.61 and a 12-month high of $69.70. The company has a quick ratio of 4.44, a current ratio of 4.52 and a debt-to-equity ratio of 0.43.

Institutional Investors Weigh In On Stride

Hedge funds have recently modified their holdings of the business. Vanguard Group Inc. raised its position in Stride by 11.3% in the 3rd quarter. Vanguard Group Inc. now owns 5,000,230 shares of the company’s stock valued at $210,160,000 after buying an additional 506,211 shares during the last quarter. Norges Bank acquired a new stake in Stride in the 4th quarter valued at approximately $13,432,000. Intrinsic Edge Capital Management LLC acquired a new stake in Stride in the 1st quarter valued at approximately $10,819,000. Rockefeller Capital Management L.P. raised its position in Stride by 2,792.8% in the 2nd quarter. Rockefeller Capital Management L.P. now owns 269,894 shares of the company’s stock valued at $10,048,000 after buying an additional 260,564 shares during the last quarter. Finally, Renaissance Technologies LLC raised its position in Stride by 45.2% in the 4th quarter. Renaissance Technologies LLC now owns 460,800 shares of the company’s stock valued at $14,414,000 after buying an additional 143,409 shares during the last quarter. Institutional investors and hedge funds own 98.24% of the company’s stock.

Analyst Upgrades and Downgrades

LRN has been the topic of several recent research reports. BMO Capital Markets raised their price target on Stride from $71.00 to $72.00 and gave the company an “outperform” rating in a report on Thursday, January 25th. Citigroup raised their target price on Stride from $70.00 to $75.00 and gave the stock a “buy” rating in a report on Monday, January 29th. Barrington Research raised their target price on Stride from $70.00 to $75.00 and gave the stock an “outperform” rating in a report on Wednesday, January 24th. Morgan Stanley raised their target price on Stride from $60.00 to $65.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 24th. Finally, Wedbush restated an “outperform” rating on shares of Stride in a report on Wednesday, January 24th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $71.75.

About Stride

Stride, Inc, a technology-based education service 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.