Perdoceo Education Co. to Post Q2 2024 Earnings of $0.58 Per Share, Barrington Research Forecasts (NASDAQ:PRDO)

Perdoceo Education Co. (NASDAQ:PRDO) – Equities researchers at Barrington Research lifted their Q2 2024 earnings per share (EPS) estimates for shares of Perdoceo Education in a research report issued to clients and investors on Thursday, May 2nd. Barrington Research analyst A. Paris now forecasts that the company will post earnings per share of $0.58 for the quarter, up from their prior forecast of $0.53. Barrington Research currently has a “Outperform” rating and a $25.00 target price on the stock. The consensus estimate for Perdoceo Education’s current full-year earnings is $2.21 per share. Barrington Research also issued estimates for Perdoceo Education’s Q3 2024 earnings at $0.53 EPS, Q4 2024 earnings at $0.50 EPS, FY2024 earnings at $2.21 EPS and FY2025 earnings at $2.34 EPS.

Perdoceo Education (NASDAQ:PRDO) last posted its earnings results on Wednesday, May 1st. The company reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.53 by $0.07. Perdoceo Education had a net margin of 22.35% and a return on equity of 17.09%. The firm had revenue of $168.30 million during the quarter, compared to analysts’ expectations of $163.30 million. During the same period in the previous year, the company earned $0.58 earnings per share. The company’s revenue was down 14.0% compared to the same quarter last year.

Separately, StockNews.com lowered Perdoceo Education from a “strong-buy” rating to a “buy” rating in a report on Thursday, April 25th.

Perdoceo Education Trading Up 1.0 %

PRDO stock opened at $24.34 on Monday. The firm has a market cap of $1.60 billion, a PE ratio of 10.72, a PEG ratio of 0.77 and a beta of 0.93. Perdoceo Education has a 1 year low of $11.50 and a 1 year high of $24.66. The company has a fifty day simple moving average of $17.90 and a 200 day simple moving average of $17.74.

Perdoceo Education Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Saturday, June 15th. Shareholders of record on Saturday, June 1st will be issued a dividend of $0.11 per share. The ex-dividend date is Friday, May 31st. This represents a $0.44 annualized dividend and a yield of 1.81%. Perdoceo Education’s dividend payout ratio (DPR) is presently 19.38%.

Insider Activity

In related news, CFO Ashish R. Ghia sold 11,412 shares of Perdoceo Education stock in a transaction on Friday, April 26th. The shares were sold at an average price of $19.00, for a total value of $216,828.00. Following the transaction, the chief financial officer now owns 226,234 shares in the company, valued at approximately $4,298,446. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Todd S. Nelson sold 16,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $17.70, for a total transaction of $283,200.00. Following the completion of the transaction, the chief executive officer now directly owns 617,367 shares in the company, valued at $10,927,395.90. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Ashish R. Ghia sold 11,412 shares of the stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $19.00, for a total value of $216,828.00. Following the completion of the sale, the chief financial officer now directly owns 226,234 shares of the company’s stock, valued at $4,298,446. The disclosure for this sale can be found here. Insiders have sold a total of 75,412 shares of company stock valued at $1,342,428 over the last 90 days. 1.81% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Perdoceo Education

Several large investors have recently bought and sold shares of the stock. McGlone Suttner Wealth Management Inc. bought a new stake in shares of Perdoceo Education in the 4th quarter worth approximately $26,000. Planned Solutions Inc. acquired a new stake in Perdoceo Education during the fourth quarter worth $26,000. AJOVista LLC acquired a new stake in Perdoceo Education during the fourth quarter worth $81,000. Banque Cantonale Vaudoise raised its stake in shares of Perdoceo Education by 9.9% in the 1st quarter. Banque Cantonale Vaudoise now owns 6,269 shares of the company’s stock valued at $110,000 after buying an additional 565 shares in the last quarter. Finally, Commons Capital LLC bought a new position in shares of Perdoceo Education during the 4th quarter worth about $193,000. 93.46% of the stock is currently owned by institutional investors and hedge funds.

Perdoceo Education Company Profile

Perdoceo Education Corporation provides postsecondary education through online, campus-based, and blended learning programs in the United States. It operates in two segments, Colorado Technical University and The American InterContinental University System. The Colorado Technical University segment offers academic programs, such as business and management, nursing, healthcare management, computer science, engineering, information systems and technology, project management, cybersecurity, and criminal justice.