PRDO FY2024 EPS Estimate Boosted by Barrington Research

Perdoceo Education Co. (NASDAQ:PRDO) – Stock analysts at Barrington Research upped their FY2024 earnings per share estimates for shares of Perdoceo Education in a research report issued to clients and investors on Wednesday, November 13th. Barrington Research analyst A. Paris now anticipates that the company will earn $2.27 per share for the year, up from their prior estimate of $2.19. Barrington Research currently has a “Outperform” rating and a $32.00 target price on the stock. The consensus estimate for Perdoceo Education’s current full-year earnings is $2.19 per share. Barrington Research also issued estimates for Perdoceo Education’s Q4 2024 earnings at $0.48 EPS.

Perdoceo Education (NASDAQ:PRDO) last announced its quarterly earnings results on Tuesday, November 12th. The company reported $0.59 EPS for the quarter, beating analysts’ consensus estimates of $0.53 by $0.06. The firm had revenue of $169.83 million during the quarter, compared to the consensus estimate of $164.60 million. Perdoceo Education had a net margin of 20.42% and a return on equity of 15.88%. The firm’s revenue for the quarter was down 5.6% compared to the same quarter last year. During the same quarter last year, the firm earned $0.64 EPS.

Separately, StockNews.com raised shares of Perdoceo Education from a “buy” rating to a “strong-buy” rating in a research report on Thursday.

Perdoceo Education Stock Down 5.9 %

PRDO stock opened at $26.30 on Friday. Perdoceo Education has a twelve month low of $16.12 and a twelve month high of $29.47. The firm’s fifty day simple moving average is $22.07 and its two-hundred day simple moving average is $22.33. The stock has a market capitalization of $1.73 billion, a price-to-earnings ratio of 13.22, a price-to-earnings-growth ratio of 0.76 and a beta of 1.04.

Perdoceo Education Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Monday, December 2nd will be paid a $0.13 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $0.52 dividend on an annualized basis and a yield of 1.98%. Perdoceo Education’s dividend payout ratio is currently 26.13%.

Insider Transactions at Perdoceo Education

In other news, insider Michele A. Peppers sold 6,476 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $21.00, for a total value of $135,996.00. Following the completion of the sale, the insider now owns 61,952 shares of the company’s stock, valued at approximately $1,300,992. This represents a 9.46 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.81% of the company’s stock.

Institutional Trading of Perdoceo Education

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Quarry LP lifted its stake in shares of Perdoceo Education by 1,306.3% during the 2nd quarter. Quarry LP now owns 1,350 shares of the company’s stock worth $29,000 after purchasing an additional 1,254 shares during the last quarter. Blue Trust Inc. grew its position in shares of Perdoceo Education by 38.7% in the 3rd quarter. Blue Trust Inc. now owns 1,762 shares of the company’s stock worth $38,000 after buying an additional 492 shares during the last quarter. Quest Partners LLC bought a new position in shares of Perdoceo Education during the 2nd quarter worth approximately $39,000. Fifth Third Bancorp boosted its stake in Perdoceo Education by 650.6% in the second quarter. Fifth Third Bancorp now owns 1,884 shares of the company’s stock valued at $40,000 after acquiring an additional 1,633 shares in the last quarter. Finally, Innealta Capital LLC purchased a new position in Perdoceo Education in the second quarter worth $74,000. Institutional investors own 93.46% of the company’s stock.

Perdoceo Education Company Profile

Perdoceo Education Corporation provides postsecondary education through online, campus-based, and blended learning programs in the United States. It operates in two segments, Colorado Technical University and The American InterContinental University System. The Colorado Technical University segment offers academic programs, such as business and management, nursing, healthcare management, computer science, engineering, information systems and technology, project management, cybersecurity, and criminal justice.