Grand Canyon Education (NASDAQ:LOPE) Updates Q2 Earnings Guidance

Grand Canyon Education (NASDAQ:LOPE) issued an update on its second quarter earnings guidance on Tuesday morning. The company provided earnings per share guidance of $1.02-1.06 for the period, compared to the consensus earnings per share estimate of $1.07. The company issued revenue guidance of $222-224 million, compared to the consensus revenue estimate of $223.21 million. Grand Canyon Education also updated its FY24 guidance to $7.35-7.82 EPS.

Grand Canyon Education Stock Up 5.2 %

Shares of NASDAQ:LOPE traded up $7.30 during trading on Wednesday, reaching $147.08. The stock had a trading volume of 466,651 shares, compared to its average volume of 201,720. The stock has a fifty day simple moving average of $133.28 and a two-hundred day simple moving average of $132.36. Grand Canyon Education has a 52 week low of $99.65 and a 52 week high of $156.56. The firm has a market capitalization of $4.38 billion, a price-to-earnings ratio of 21.63, a P/E/G ratio of 1.19 and a beta of 0.60.

Grand Canyon Education (NASDAQ:LOPE) last announced its 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. Grand Canyon Education had a net margin of 21.33% and a return on equity of 31.75%. The firm had revenue of $274.68 million for the quarter, compared to the consensus estimate of $272.42 million. During the same quarter last year, the firm posted $2.00 EPS. The business’s quarterly revenue was up 9.8% on a year-over-year basis. On average, analysts forecast that Grand Canyon Education will post 7.65 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages have commented on LOPE. Robert W. Baird lifted their price target on Grand Canyon Education from $165.00 to $170.00 and gave the stock an outperform rating in a research report on Wednesday. BMO Capital Markets boosted their target price on shares of Grand Canyon Education from $150.00 to $155.00 and gave the stock an outperform rating in a research report on Wednesday. Finally, Barrington Research increased their price target on shares of Grand Canyon Education from $160.00 to $165.00 and gave the company an outperform rating in a report on Wednesday.

Insider Activity

In related news, CTO Dilek Marsh sold 1,500 shares of the firm’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $132.65, for a total value of $198,975.00. Following the completion of the transaction, the chief technology officer now directly owns 25,674 shares of the company’s stock, valued at $3,405,656.10. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 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.