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

Grand Canyon Education (NASDAQ:LOPE) updated its fourth quarter earnings guidance on Tuesday. The company provided earnings per share guidance of $2.78-2.91 for the period, compared to the consensus earnings per share estimate of $2.95. The company issued revenue guidance of $286.5-291.5 million, compared to the consensus revenue estimate of $294.11 million. Grand Canyon Education also updated its FY 2024 guidance to 7.850-8.040 EPS.

Grand Canyon Education Trading Down 3.5 %

Shares of Grand Canyon Education stock traded down $5.16 during mid-day trading on Wednesday, hitting $142.23. 260,063 shares of the stock were exchanged, compared to its average volume of 191,268. The stock has a market capitalization of $4.23 billion, a price-to-earnings ratio of 20.55, a price-to-earnings-growth ratio of 1.31 and a beta of 0.66. Grand Canyon Education has a twelve month low of $107.99 and a twelve month high of $157.53. The company has a 50-day simple moving average of $143.83 and a 200 day simple moving average of $137.69.

Grand Canyon Education (NASDAQ:LOPE) last announced its earnings results on Tuesday, August 6th. The company reported $1.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.10 by $0.17. The firm had revenue of $227.50 million for the quarter, compared to analyst estimates of $223.56 million. Grand Canyon Education had a net margin of 21.66% and a return on equity of 31.81%. Grand Canyon Education’s revenue was up 8.0% compared to the same quarter last year. During the same quarter last year, the business earned $1.01 earnings per share. Equities research analysts forecast that Grand Canyon Education will post 7.8 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

LOPE has been the topic of several recent analyst reports. Barrington Research reiterated an outperform rating and set a $165.00 target price on shares of Grand Canyon Education in a research report on Wednesday. Robert W. Baird upped their price objective on shares of Grand Canyon Education from $165.00 to $170.00 and gave the company an outperform rating in a research note on Wednesday, May 8th. Finally, BMO Capital Markets raised their target price on shares of Grand Canyon Education from $160.00 to $162.00 and gave the stock an outperform rating in a research report on Wednesday.

Insider Buying and Selling

In other news, Director Lisa Graham Keegan sold 270 shares of Grand Canyon Education stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $147.96, for a total value of $39,949.20. Following the transaction, the director now directly owns 2,635 shares of the company’s stock, valued at approximately $389,874.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Lisa Graham Keegan sold 270 shares of the 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 sale, the director now directly owns 2,635 shares in the company, valued at approximately $389,874.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Kathy J. Claypatch sold 1,500 shares of the firm’s stock in a transaction dated Friday, May 10th. The shares were 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 in the company, valued at $1,241,344. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company’s stock.

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.