Grand Canyon Education (NASDAQ:LOPE) Updates FY 2024 Earnings Guidance

Grand Canyon Education (NASDAQ:LOPE) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share guidance of 8.020-8.050 for the period, compared to the consensus earnings per share estimate of 7.990. The company issued revenue guidance of $1.0 billion-$1.0 billion, compared to the consensus revenue estimate of $1.0 billion. Grand Canyon Education also updated its Q4 guidance to $2.86-$2.89 EPS.

Analyst Ratings Changes

A number of research firms have recently issued reports on LOPE. StockNews.com downgraded shares of Grand Canyon Education from a “buy” rating to a “hold” rating in a research report on Wednesday, October 9th. Barrington Research reaffirmed an “outperform” rating and issued a $165.00 target price on shares of Grand Canyon Education in a research report on Friday, September 20th. Finally, BMO Capital Markets increased their price objective on shares of Grand Canyon Education from $160.00 to $162.00 and gave the company an “outperform” rating in a research report on Wednesday, August 7th.

Grand Canyon Education Stock Performance

Shares of LOPE traded up $20.40 during trading hours on Wednesday, hitting $160.15. 636,082 shares of the company were exchanged, compared to its average volume of 178,061. The company has a market cap of $4.72 billion, a PE ratio of 21.33, a PEG ratio of 1.14 and a beta of 0.70. The firm’s 50 day moving average is $138.68 and its 200-day moving average is $141.07. Grand Canyon Education has a 52 week low of $118.48 and a 52 week high of $161.39.

Grand Canyon Education (NASDAQ:LOPE) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $1.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.17. Grand Canyon Education had a net margin of 21.88% and a return on equity of 31.49%. The firm had revenue of $227.50 million during the quarter, compared to analyst estimates of $223.56 million. During the same quarter in the prior year, the business posted $1.01 earnings per share. The company’s quarterly revenue was up 8.0% compared to the same quarter last year. As a group, equities analysts forecast that Grand Canyon Education will post 7.98 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CTO Dilek Marsh sold 1,500 shares of the business’s stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $141.23, for a total value of $211,845.00. Following the sale, the chief technology officer now owns 22,674 shares of the company’s stock, valued at $3,202,249.02. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company 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.