Perdoceo Education (NASDAQ:PRDO) Posts Earnings Results, Beats Estimates By $0.07 EPS

Perdoceo Education (NASDAQ:PRDO - Get Free Report) released its earnings results on Wednesday. The company reported $0.60 EPS for the quarter, topping analysts' consensus estimates of $0.53 by $0.07, Briefing.com reports. The company had revenue of $168.30 million during the quarter, compared to analysts' expectations of $163.30 million. Perdoceo Education had a net margin of 20.80% and a return on equity of 17.63%. Perdoceo Education's revenue for the quarter was down 14.0% on a year-over-year basis. During the same period last year, the business earned $0.58 EPS.

Perdoceo Education Trading Up 31.5 %

NASDAQ PRDO traded up $5.77 on Thursday, hitting $24.11. 2,182,218 shares of the company's stock traded hands, compared to its average volume of 527,010. The firm has a market capitalization of $1.58 billion, a PE ratio of 11.06, a P/E/G ratio of 0.58 and a beta of 0.92. The firm's 50-day moving average price is $17.77 and its two-hundred day moving average price is $17.70. Perdoceo Education has a 1-year low of $11.50 and a 1-year high of $24.18.

Perdoceo Education Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were paid a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 1.82%. The ex-dividend date of this dividend was Thursday, February 29th. Perdoceo Education's payout ratio is 20.18%.

Insider Activity

In other news, CFO Ashish R. Ghia sold 11,412 shares of Perdoceo Education stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $19.00, for a total transaction of $216,828.00. Following the completion of the transaction, the chief financial officer now directly owns 226,234 shares of the company's stock, valued at approximately $4,298,446. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CFO Ashish R. Ghia sold 11,412 shares of Perdoceo Education stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $19.00, for a total transaction of $216,828.00. Following the completion of the transaction, the chief financial officer now directly owns 226,234 shares of the company's stock, valued at approximately $4,298,446. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Todd S. Nelson sold 16,000 shares of Perdoceo Education stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $17.65, for a total transaction of $282,400.00. Following the transaction, the chief executive officer now directly owns 681,367 shares of the company's stock, valued at $12,026,127.55. The disclosure for this sale can be found here. Insiders sold a total of 75,412 shares of company stock valued at $1,342,428 in the last three months. 1.81% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Barrington Research lifted their price objective on shares of Perdoceo Education from $23.00 to $25.00 and gave the company 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.

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.