Grand Canyon Education, Inc. (NASDAQ:LOPE) Expected to Earn Q2 2024 Earnings of $1.09 Per Share

Grand Canyon Education, Inc. (NASDAQ:LOPE - Free Report) - Barrington Research raised their Q2 2024 earnings per share estimates for Grand Canyon Education in a report released on Wednesday, May 8th. Barrington Research analyst A. Paris now expects that the company will post earnings of $1.09 per share for the quarter, up from their prior estimate of $1.06. Barrington Research has a "Outperform" rating and a $165.00 price objective on the stock. The consensus estimate for Grand Canyon Education's current full-year earnings is $7.65 per share.

LOPE has been the subject of several other reports. Robert W. Baird lifted their price objective on Grand Canyon Education from $165.00 to $170.00 and gave the stock an "outperform" rating in a report on Wednesday. BMO Capital Markets increased their price objective on shares of Grand Canyon Education from $150.00 to $155.00 and gave the company an "outperform" rating in a research report on Wednesday.

Grand Canyon Education Trading Down 0.3 %

LOPE traded down $0.47 during trading on Friday, hitting $148.79. 262,913 shares of the company's stock traded hands, compared to its average volume of 203,283. Grand Canyon Education has a 12-month low of $99.65 and a 12-month high of $156.56. The company's 50 day simple moving average is $133.85 and its two-hundred day simple moving average is $132.73. The stock has a market capitalization of $4.43 billion, a price-to-earnings ratio of 20.81, a PEG ratio of 1.19 and a beta of 0.60.

Grand Canyon Education (NASDAQ:LOPE - Get Free Report) last announced its quarterly earnings data on Tuesday, May 7th. The company reported $2.35 EPS for the quarter, beating the consensus estimate of $2.22 by $0.13. The company had revenue of $274.68 million for the quarter, compared to the consensus estimate of $272.42 million. Grand Canyon Education had a net margin of 21.33% and a return on equity of 31.75%. Grand Canyon Education's revenue for the quarter was up 9.8% on a year-over-year basis. During the same period in the prior year, the firm posted $2.00 EPS.

Institutional Investors Weigh In On Grand Canyon Education

A number of large investors have recently modified their holdings of LOPE. Alaska Permanent Fund Corp raised its stake in shares of Grand Canyon Education by 8.3% during the 4th quarter. Alaska Permanent Fund Corp now owns 86,044 shares of the company's stock valued at $11,361,000 after buying an additional 6,598 shares during the last quarter. Treasurer of the State of North Carolina grew its stake in shares of Grand Canyon Education by 0.4% during the 3rd quarter. Treasurer of the State of North Carolina now owns 19,049 shares of the company's stock worth $2,226,000 after purchasing an additional 85 shares during the period. Dark Forest Capital Management LP purchased a new position in shares of Grand Canyon Education during the 3rd quarter valued at approximately $592,000. Sei Investments Co. lifted its stake in shares of Grand Canyon Education by 7.8% in the 3rd quarter. Sei Investments Co. now owns 168,209 shares of the company's stock valued at $19,660,000 after purchasing an additional 12,125 shares during the period. Finally, Van Berkom & Associates Inc. boosted its stake in shares of Grand Canyon Education by 11.9% during the 3rd quarter. Van Berkom & Associates Inc. now owns 871,871 shares of the company's stock worth $101,904,000 after acquiring an additional 92,445 shares in the last quarter. Hedge funds and other institutional investors own 94.17% of the company's stock.

Insider Activity

In related news, CTO Dilek Marsh sold 1,500 shares of the company's stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $132.65, for a total transaction of $198,975.00. Following the transaction, the chief technology officer now directly owns 25,674 shares in the company, valued at approximately $3,405,656.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 2.00% of the company's stock.

About Grand Canyon Education

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.