Perdoceo Education (NASDAQ:PRDO) Issues Q4 2021 Earnings Guidance

Perdoceo Education (NASDAQ:PRDO) issued an update on its fourth quarter 2021 earnings guidance on Thursday morning. The company provided EPS guidance of $0.300-$0.330 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.370. The company issued revenue guidance of -.Perdoceo Education also updated its FY 2021 guidance to $1.600-$1.630 EPS.

PRDO traded up $0.08 during trading hours on Thursday, hitting $10.46. 451,124 shares of the stock were exchanged, compared to its average volume of 456,128. The stock has a 50-day simple moving average of $10.68 and a 200-day simple moving average of $11.41. Perdoceo Education has a 12 month low of $10.22 and a 12 month high of $14.05. The stock has a market cap of $733.31 million, a price-to-earnings ratio of 6.66, a price-to-earnings-growth ratio of 0.42 and a beta of 1.18.

Perdoceo Education (NASDAQ:PRDO) last issued its earnings results on Thursday, November 4th. The company reported $0.45 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.38 by $0.07. Perdoceo Education had a return on equity of 20.11% and a net margin of 15.93%. The firm had revenue of $174.00 million for the quarter, compared to analyst estimates of $170.99 million. During the same period last year, the company earned $0.35 earnings per share. The firm’s revenue for the quarter was up 2.9% on a year-over-year basis. As a group, equities research analysts anticipate that Perdoceo Education will post 1.61 earnings per share for the current fiscal year.

PRDO has been the topic of several analyst reports. Zacks Investment Research raised Perdoceo Education from a hold rating to a buy rating and set a $12.00 target price on the stock in a research report on Tuesday, November 16th. Barrington Research reissued a buy rating and set a $20.00 price target on shares of Perdoceo Education in a report on Thursday, September 16th. Finally, TheStreet lowered Perdoceo Education from a b- rating to a c rating in a report on Monday, August 9th.

In related news, SVP John Robert Kline sold 30,000 shares of the firm’s stock in a transaction dated Tuesday, November 9th. The stock was sold at an average price of $10.43, for a total transaction of $312,900.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 3.55% of the stock is currently owned by company insiders.

Hedge funds have recently made changes to their positions in the stock. Royal Bank of Canada boosted its stake in Perdoceo Education by 127.2% during the third quarter. Royal Bank of Canada now owns 10,948 shares of the company’s stock valued at $115,000 after buying an additional 6,130 shares in the last quarter. Millennium Management LLC acquired a new position in shares of Perdoceo Education in the 3rd quarter valued at $1,243,000. Finally, Morgan Stanley boosted its position in shares of Perdoceo Education by 0.7% in the 2nd quarter. Morgan Stanley now owns 430,595 shares of the company’s stock valued at $5,283,000 after purchasing an additional 2,889 shares during the period. 87.66% of the stock is owned by institutional investors and hedge funds.

About Perdoceo Education

Perdoceo Education Corp. engages in the provision of educational services. It operates through the following segments: Colorado Technical University (CTU) and American InterContinental University (AIU). The CTU segment offers academic programs in the disciplines of business studies, nursing, computer science, engineering, information systems and technology, cybersecurity and healthcare management.

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