Perdoceo Education Co. (PRDO) to Issue Quarterly Dividend of $0.11 on June 15th

Perdoceo Education Co. (NASDAQ:PRDO) announced a quarterly dividend on Wednesday, May 1st, Zacks reports. Stockholders of record on Saturday, June 1st will be given a dividend of 0.11 per share on Saturday, June 15th. This represents a $0.44 annualized dividend and a dividend yield of 1.81%. The ex-dividend date is Friday, May 31st.

Perdoceo Education has a dividend payout ratio of 20.0% indicating that its dividend is sufficiently covered by earnings. Analysts expect Perdoceo Education to earn $2.30 per share next year, which means the company should continue to be able to cover its $0.44 annual dividend with an expected future payout ratio of 19.1%.

Perdoceo Education Price Performance

Shares of Perdoceo Education stock traded up $0.23 during trading on Friday, hitting $24.34. The stock had a trading volume of 1,290,775 shares, compared to its average volume of 535,903. The firm’s fifty day simple moving average is $17.77 and its 200-day simple moving average is $17.70. The stock has a market cap of $1.60 billion, a PE ratio of 10.66, a PEG ratio of 0.58 and a beta of 0.93. Perdoceo Education has a 12 month low of $11.50 and a 12 month high of $24.66.

Perdoceo Education (NASDAQ:PRDO) last posted its quarterly earnings results on Wednesday, May 1st. The company reported $0.60 EPS for the quarter, topping the consensus estimate of $0.53 by $0.07. The company had revenue of $168.30 million for the quarter, compared to the consensus estimate of $163.30 million. Perdoceo Education had a net margin of 22.35% and a return on equity of 17.33%. The firm’s revenue was down 14.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.58 EPS. Analysts expect that Perdoceo Education will post 2.12 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts recently commented on PRDO shares. Barrington Research raised their price target on shares of Perdoceo Education from $23.00 to $25.00 and gave the stock an “outperform” rating in a research note on Thursday. StockNews.com cut shares of Perdoceo Education from a “strong-buy” rating to a “buy” rating in a research note on Thursday, April 25th.

Insider Activity

In other Perdoceo Education news, CEO Todd S. Nelson sold 16,000 shares of the company’s stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $17.23, for a total value of $275,680.00. Following the transaction, the chief executive officer now owns 713,367 shares of the company’s stock, valued at $12,291,313.41. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, CEO Todd S. Nelson sold 16,000 shares of the stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $17.23, for a total transaction of $275,680.00. Following the sale, the chief executive officer now owns 713,367 shares of the company’s stock, valued at $12,291,313.41. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Ashish R. Ghia sold 11,412 shares of the company’s stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $19.00, for a total transaction of $216,828.00. Following the sale, the chief financial officer now owns 226,234 shares in the company, valued at $4,298,446. The disclosure for this sale can be found here. In the last quarter, insiders have sold 75,412 shares of company stock valued at $1,342,428. 1.81% of the stock is currently owned by insiders.

About Perdoceo Education

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.