Grand Canyon Education (NASDAQ:LOPE - Get Free Report) issued its quarterly earnings results on Tuesday. The company reported $2.35 EPS for the quarter, topping analysts' consensus estimates of $2.22 by $0.13, Briefing.com reports. The company had revenue of $274.68 million during the quarter, compared to analyst estimates of $272.42 million. Grand Canyon Education had a return on equity of 31.75% and a net margin of 21.33%. The company's quarterly revenue was up 9.8% compared to the same quarter last year. During the same period in the previous year, the company earned $2.00 earnings per share. Grand Canyon Education updated its Q2 guidance to $1.02-1.06 EPS and its FY24 guidance to $7.35-7.82 EPS.
Grand Canyon Education Stock Up 5.2 %
LOPE traded up $7.30 during trading on Wednesday, reaching $147.08. 466,651 shares of the company's stock were exchanged, compared to its average volume of 201,720. The company has a market capitalization of $4.38 billion, a P/E ratio of 21.63, a PEG ratio of 1.19 and a beta of 0.60. The business has a 50 day moving average price of $133.28 and a 200 day moving average price of $132.36. Grand Canyon Education has a fifty-two week low of $99.65 and a fifty-two week high of $156.56.
Insider Activity
In other news, CTO Dilek Marsh sold 1,500 shares of Grand Canyon Education 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 sale, 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 document filed with the SEC, which is available through this hyperlink. Corporate insiders own 2.00% of the company's stock.
Analysts Set New Price Targets
Several equities analysts recently commented on LOPE shares. Robert W. Baird upped their target price on shares of Grand Canyon Education from $165.00 to $170.00 and gave the company an "outperform" rating in a research note on Wednesday. Barrington Research upped their price objective on shares of Grand Canyon Education from $160.00 to $165.00 and gave the company an "outperform" rating in a research report on Wednesday. Finally, BMO Capital Markets lifted their target price on Grand Canyon Education from $150.00 to $155.00 and gave the stock an "outperform" rating in a research report on Wednesday.
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Grand Canyon Education Company Profile
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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.
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