Grand Canyon Education (NASDAQ:LOPE) Sets New 1-Year High After Earnings Beat

Grand Canyon Education, Inc. (NASDAQ:LOPE - Get Free Report) shares hit a new 52-week high during trading on Wednesday after the company announced better than expected quarterly earnings. The stock traded as high as $200.00 and last traded at $199.52, with a volume of 69439 shares changing hands. The stock had previously closed at $185.45.

The company reported $2.57 EPS for the quarter, topping analysts' consensus estimates of $2.51 by $0.06. Grand Canyon Education had a net margin of 21.90% and a return on equity of 30.67%. The business had revenue of $289.31 million during the quarter, compared to the consensus estimate of $287.18 million. During the same quarter in the previous year, the firm posted $2.35 EPS. The firm's revenue was up 5.3% on a year-over-year basis.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on LOPE shares. BMO Capital Markets boosted their price objective on shares of Grand Canyon Education from $181.00 to $202.00 and gave the company an "outperform" rating in a research report on Friday, February 21st. Barrington Research boosted their price objective on shares of Grand Canyon Education from $205.00 to $215.00 and gave the company an "outperform" rating in a research report on Wednesday, May 7th. Finally, StockNews.com cut shares of Grand Canyon Education from a "buy" rating to a "hold" rating in a research note on Thursday, April 24th.

Institutional Trading of Grand Canyon Education

Several hedge funds have recently bought and sold shares of LOPE. Barclays PLC lifted its stake in Grand Canyon Education by 0.4% in the 3rd quarter. Barclays PLC now owns 18,977 shares of the company's stock worth $2,692,000 after purchasing an additional 84 shares in the last quarter. Franklin Resources Inc. raised its position in Grand Canyon Education by 10.7% in the 3rd quarter. Franklin Resources Inc. now owns 37,523 shares of the company's stock worth $5,014,000 after purchasing an additional 3,630 shares during the period. Diversified Trust Co purchased a new position in shares of Grand Canyon Education during the fourth quarter worth approximately $201,000. Wealth Enhancement Advisory Services LLC increased its position in shares of Grand Canyon Education by 1.5% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 4,225 shares of the company's stock worth $692,000 after acquiring an additional 63 shares during the period. Finally, Reinhart Partners LLC. increased its holdings in Grand Canyon Education by 1.6% during the fourth quarter. Reinhart Partners LLC. now owns 330,946 shares of the company's stock valued at $54,209,000 after buying an additional 5,339 shares during the period. Hedge funds and other institutional investors own 94.17% of the company's stock.

Grand Canyon Education Price Performance

The company has a market capitalization of $5.56 billion, a PE ratio of 25.29, a price-to-earnings-growth ratio of 1.42 and a beta of 0.80. The company's fifty day moving average is $174.72 and its 200-day moving average is $169.82.

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.