Grand Canyon Education (NASDAQ:LOPE) Updates Q4 Earnings Guidance

Grand Canyon Education (NASDAQ:LOPE) updated its fourth quarter earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $2.78-2.91 for the period, compared to the consensus estimate of $2.95. The company issued revenue guidance of $286.5-291.5 million, compared to the consensus revenue estimate of $294.11 million. Grand Canyon Education also updated its FY 2024 guidance to 7.850-8.040 EPS.

Grand Canyon Education Stock Performance

Shares of NASDAQ LOPE traded down $5.16 during trading hours on Wednesday, hitting $142.23. The company’s stock had a trading volume of 260,063 shares, compared to its average volume of 191,268. Grand Canyon Education has a 12 month low of $107.99 and a 12 month high of $157.53. The stock has a market cap of $4.23 billion, a price-to-earnings ratio of 20.55, a P/E/G ratio of 1.31 and a beta of 0.66. The business has a 50-day simple moving average of $143.83 and a 200-day simple moving average of $137.69.

Grand Canyon Education (NASDAQ:LOPE) last released its quarterly earnings data on Tuesday, August 6th. The company reported $1.27 earnings per share for the quarter, beating analysts’ consensus estimates of $1.10 by $0.17. Grand Canyon Education had a net margin of 21.66% and a return on equity of 31.81%. The business had revenue of $227.50 million during the quarter, compared to analyst estimates of $223.56 million. During the same period last year, the business earned $1.01 EPS. Grand Canyon Education’s revenue was up 8.0% compared to the same quarter last year. On average, equities research analysts forecast that Grand Canyon Education will post 7.8 EPS for the current year.

Analyst Ratings Changes

A number of research firms recently commented on LOPE. BMO Capital Markets upped their price objective on Grand Canyon Education from $160.00 to $162.00 and gave the company an outperform rating in a research report on Wednesday. Barrington Research restated an outperform rating and set a $165.00 target price on shares of Grand Canyon Education in a research report on Wednesday. Finally, Robert W. Baird upped their price target on Grand Canyon Education from $165.00 to $170.00 and gave the stock an outperform rating in a research report on Wednesday, May 8th.

Insider Buying and Selling at Grand Canyon Education

In other news, Director Lisa Graham Keegan sold 270 shares of Grand Canyon Education stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $147.96, for a total transaction of $39,949.20. Following the sale, the director now owns 2,635 shares in the company, valued at $389,874.60. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, insider Kathy J. Claypatch sold 1,500 shares of the business’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $149.20, for a total transaction of $223,800.00. Following the transaction, the insider now owns 8,320 shares of the company’s stock, valued at approximately $1,241,344. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Lisa Graham Keegan sold 270 shares of Grand Canyon Education stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $147.96, for a total transaction of $39,949.20. Following the transaction, the director now directly owns 2,635 shares of the company’s stock, valued at $389,874.60. The disclosure for this sale can be found here. 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.