Perdoceo Education Corporation (NASDAQ:PRDO) to Issue Quarterly Dividend of $0.15

Key Points

• Perdoceo Education Corporation declared a quarterly dividend of $0.15 per share, reflecting a 15.4% increase from the previous dividend of $0.13.
• The company reported earnings of $0.67 per share for the last quarter, surpassing analysts' expectations of $0.65, alongside a revenue increase of 25.7% year-over-year.
• Shares of Perdoceo Education traded up 3.2%, reaching $29.70, with a market capitalization of $1.95 billion.

Perdoceo Education Corporation (NASDAQ:PRDO - Get Free Report) declared a quarterly dividend on Friday, August 1st, Wall Street Journal reports. Stockholders of record on Tuesday, September 2nd will be paid a dividend of 0.15 per share on Friday, September 12th. This represents a c) annualized dividend and a dividend yield of 2.0%. The ex-dividend date is Tuesday, September 2nd. This is a 15.4% increase from Perdoceo Education's previous quarterly dividend of $0.13.

Perdoceo Education has a payout ratio of 21.1% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Perdoceo Education to earn $2.60 per share next year, which means the company should continue to be able to cover its $0.52 annual dividend with an expected future payout ratio of 20.0%.

Perdoceo Education Stock Up 3.2%

NASDAQ PRDO traded up $0.92 during trading hours on Friday, reaching $29.70. 1,364,830 shares of the company traded hands, compared to its average volume of 592,481. Perdoceo Education has a 12 month low of $20.55 and a 12 month high of $34.60. The company has a current ratio of 4.46, a quick ratio of 4.43 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $1.95 billion, a PE ratio of 13.14, a PEG ratio of 0.77 and a beta of 0.83. The company has a 50 day moving average of $31.22 and a two-hundred day moving average of $28.47.

Perdoceo Education (NASDAQ:PRDO - Get Free Report) last issued its earnings results on Thursday, July 31st. The company reported $0.67 earnings per share for the quarter, topping analysts' consensus estimates of $0.65 by $0.02. The company had revenue of $209.58 million for the quarter, compared to analysts' expectations of $206.92 million. Perdoceo Education had a net margin of 20.91% and a return on equity of 17.10%. The firm's revenue was up 25.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.60 earnings per share. As a group, equities analysts expect that Perdoceo Education will post 2.41 earnings per share for the current year.

Analyst Upgrades and Downgrades

PRDO has been the subject of several recent analyst reports. Barrington Research reiterated an "outperform" rating and issued a $40.00 target price on shares of Perdoceo Education in a report on Friday. Wall Street Zen lowered shares of Perdoceo Education from a "strong-buy" rating to a "buy" rating in a research report on Monday, May 5th.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.