Grand Canyon Education (NASDAQ:LOPE) Releases FY 2024 Earnings Guidance

Grand Canyon Education (NASDAQ:LOPE) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided earnings per share guidance of 8.020-8.050 for the period, compared to the consensus earnings per share estimate of 7.990. The company issued revenue guidance of $1.0 billion-$1.0 billion, compared to the consensus revenue estimate of $1.0 billion. Grand Canyon Education also updated its Q4 guidance to $2.86-$2.89 EPS.

Grand Canyon Education Trading Up 5.5 %

Shares of NASDAQ:LOPE traded up $8.98 on Friday, hitting $172.52. The company had a trading volume of 504,597 shares, compared to its average volume of 162,311. Grand Canyon Education has a 52-week low of $118.48 and a 52-week high of $172.88. The business has a 50 day moving average of $139.96 and a 200 day moving average of $141.66. The company has a market cap of $5.08 billion, a PE ratio of 22.67, a PEG ratio of 1.34 and a beta of 0.70.

Grand Canyon Education (NASDAQ:LOPE) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $1.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.47 by $0.01. Grand Canyon Education had a return on equity of 31.20% and a net margin of 22.09%. The business had revenue of $238.30 million for the quarter, compared to the consensus estimate of $239.69 million. During the same period in the prior year, the business earned $1.26 earnings per share. The business’s revenue was up 7.4% on a year-over-year basis. As a group, equities analysts predict that Grand Canyon Education will post 7.98 EPS for the current year.

Analysts Set New Price Targets

Several analysts have recently issued reports on LOPE shares. BMO Capital Markets upped their price objective on Grand Canyon Education from $152.00 to $173.00 and gave the company an “outperform” rating in a research report on Thursday. Barrington Research increased their target price on Grand Canyon Education from $165.00 to $180.00 and gave the stock an “outperform” rating in a research report on Thursday. StockNews.com upgraded Grand Canyon Education from a “hold” rating to a “buy” rating in a research report on Thursday. Finally, Robert W. Baird increased their target price on Grand Canyon Education from $170.00 to $186.00 and gave the stock an “outperform” rating in a research report on Thursday.

Insider Buying and Selling

In other news, CTO Dilek Marsh sold 1,500 shares of the firm’s stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $141.23, for a total value of $211,845.00. Following the transaction, the chief technology officer now directly owns 22,674 shares in the company, valued at $3,202,249.02. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.00% of the stock is currently owned by company insiders.

Grand Canyon Education Company Profile

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.