Grand Canyon Education (NASDAQ:LOPE) Updates Q3 2024 Earnings Guidance

Grand Canyon Education (NASDAQ:LOPE) updated its third quarter 2024 earnings guidance on Tuesday. The company provided earnings per share guidance of 1.430-1.490 for the period, compared to the consensus earnings per share estimate of 1.460. The company issued revenue guidance of $238.0 million-$240.5 million, compared to the consensus revenue estimate of $241.0 million. Grand Canyon Education also updated its FY 2024 guidance to 7.850-8.040 EPS.

Analysts Set New Price Targets

A number of analysts have recently issued reports on LOPE shares. Barrington Research lifted their price objective on shares of Grand Canyon Education from $160.00 to $165.00 and gave the company an outperform rating in a research note on Wednesday, May 8th. BMO Capital Markets raised their price target on shares of Grand Canyon Education from $155.00 to $160.00 and gave the stock an outperform rating in a research report on Tuesday, May 28th. Finally, Robert W. Baird lifted their price objective on shares of Grand Canyon Education from $165.00 to $170.00 and gave the stock an outperform rating in a report on Wednesday, May 8th.

Grand Canyon Education Stock Up 0.0 %

Grand Canyon Education stock traded up $0.05 during midday trading on Tuesday, hitting $147.39. The company’s stock had a trading volume of 190,484 shares, compared to its average volume of 190,875. The stock’s 50-day moving average price is $143.77 and its 200-day moving average price is $137.53. Grand Canyon Education has a 12 month low of $107.99 and a 12 month high of $157.53. The company has a market capitalization of $4.38 billion, a PE ratio of 20.61, a price-to-earnings-growth ratio of 1.31 and a beta of 0.66.

Grand Canyon Education (NASDAQ:LOPE) last issued its quarterly earnings results on Tuesday, May 7th. The company reported $2.35 EPS for the quarter, topping the consensus estimate of $2.22 by $0.13. The firm had revenue of $274.68 million for the quarter, compared to analysts’ expectations of $272.42 million. Grand Canyon Education had a net margin of 21.66% and a return on equity of 31.81%. Grand Canyon Education’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same period in the previous year, the business earned $2.00 earnings per share. As a group, equities analysts anticipate that Grand Canyon Education will post 7.8 EPS for the current year.

Insider Buying and Selling

In related news, insider Kathy J. Claypatch sold 1,500 shares of the stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $149.20, for a total value of $223,800.00. Following the transaction, the insider now owns 8,320 shares in the company, valued at $1,241,344. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, insider Kathy J. Claypatch sold 1,500 shares of the firm’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $149.20, for a total value of $223,800.00. Following the completion of the transaction, the insider now directly owns 8,320 shares of the company’s stock, valued at $1,241,344. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Lisa Graham Keegan sold 270 shares of the firm’s stock in a transaction on Monday, May 13th. The stock was sold at an average price of $147.96, for a total value of $39,949.20. Following the completion of the transaction, the director now directly owns 2,635 shares of the company’s stock, valued at $389,874.60. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by company insiders.

About Grand Canyon Education

Grand Canyon Education, Inc provides education services to colleges and universities in the United States. It offers technology services, including learning management system, internal administration, infrastructure, and support services; academic services, such as program and curriculum, faculty and related training and development, class scheduling, and skills and simulation lab sites; and counseling services and support services comprising admission, financial aid, and field experience and other counseling services.