Grand Canyon Education (NASDAQ:LOPE) Issues Q4 Earnings Guidance

Grand Canyon Education (NASDAQ:LOPE) issued an update on its fourth quarter earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $2.86-$2.89 for the period, compared to the consensus estimate of $2.91. The company issued revenue guidance of $289-$290 million, compared to the consensus revenue estimate of $289.30 million. Grand Canyon Education also updated its FY 2024 guidance to 8.020-8.050 EPS.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on LOPE shares. Barrington Research reissued an “outperform” rating and issued a $165.00 price target on shares of Grand Canyon Education in a research report on Friday, September 20th. StockNews.com lowered shares of Grand Canyon Education from a “buy” rating to a “hold” rating in a research report on Wednesday, October 9th. Finally, BMO Capital Markets increased their price objective on shares of Grand Canyon Education from $160.00 to $162.00 and gave the company an “outperform” rating in a research note on Wednesday, August 7th.

Grand Canyon Education Stock Performance

Shares of NASDAQ LOPE traded up $20.40 during mid-day trading on Wednesday, hitting $160.15. 616,474 shares of the stock traded hands, compared to its average volume of 177,970. The stock has a fifty day moving average price of $138.68 and a 200-day moving average price of $141.07. The company has a market cap of $4.72 billion, a price-to-earnings ratio of 21.33, a PEG ratio of 1.14 and a beta of 0.70. Grand Canyon Education has a 52 week low of $118.48 and a 52 week high of $161.39.

Grand Canyon Education (NASDAQ:LOPE) last released its quarterly earnings data on Tuesday, August 6th. The company reported $1.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.10 by $0.17. Grand Canyon Education had a return on equity of 31.49% and a net margin of 21.88%. The business had revenue of $227.50 million for the quarter, compared to analysts’ expectations of $223.56 million. During the same period in the prior year, the firm posted $1.01 EPS. The firm’s quarterly revenue was up 8.0% on a year-over-year basis. As a group, sell-side analysts predict that Grand Canyon Education will post 7.98 EPS for the current fiscal year.

Insider Buying and Selling at Grand Canyon Education

In related news, CTO Dilek Marsh sold 1,500 shares of the firm’s stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $141.23, for a total value of $211,845.00. Following the transaction, the chief technology officer now owns 22,674 shares of the company’s stock, valued at approximately $3,202,249.02. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 2.00% of the stock is owned by corporate 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.