Grand Canyon Education (NASDAQ:LOPE) Issues Q2 2022 Earnings Guidance

Dorothy S. Bass

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Grand Canyon Education (NASDAQ:LOPEGet Rating) updated its second quarter 2022 earnings guidance on Monday. The company provided EPS guidance of $0.80-$0.87 for the period, compared to the consensus EPS estimate of $0.85. The company issued revenue guidance of $199.50 million-$202.70 million, compared to the consensus revenue estimate of $201.40 million.Grand Canyon Education also updated its FY 2022 guidance to $5.53-$6.09 EPS.

A number of research analysts recently issued reports on the stock. Berenberg Bank downgraded shares of Grand Canyon Education from a buy rating to a hold rating and decreased their target price for the company from $110.00 to $86.00 in a research report on Friday, January 28th. BMO Capital Markets cut their price objective on shares of Grand Canyon Education from $105.00 to $92.00 in a report on Friday, February 18th. Barrington Research lifted their price objective on shares of Grand Canyon Education from $100.00 to $110.00 in a report on Thursday. StockNews.com raised shares of Grand Canyon Education from a hold rating to a buy rating in a report on Tuesday, May 3rd. Finally, Zacks Investment Research raised shares of Grand Canyon Education from a sell rating to a hold rating in a report on Wednesday, April 20th. Two analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of Buy and a consensus target price of $100.00.

NASDAQ LOPE traded down $2.79 during trading hours on Monday, hitting $91.72. 464,027 shares of the company’s stock traded hands, compared to its average volume of 391,086. Grand Canyon Education has a 52-week low of $70.00 and a 52-week high of $102.04. The company has a market capitalization of $3.01 billion, a PE ratio of 15.80, a PEG ratio of 1.08 and a beta of 0.50. The firm’s 50-day moving average is $96.34 and its 200-day moving average is $87.25.

Grand Canyon Education (NASDAQ:LOPEGet Rating) last issued its quarterly earnings data on Wednesday, May 4th. The company reported $1.72 EPS for the quarter, topping the consensus estimate of $1.70 by $0.02. Grand Canyon Education had a net margin of 26.59% and a return on equity of 20.81%. The firm had revenue of $244.13 million for the quarter, compared to analyst estimates of $241.78 million. During the same period in the prior year, the business posted $1.72 EPS. The business’s revenue for the quarter was up 3.1% compared to the same quarter last year. On average, equities research analysts predict that Grand Canyon Education will post 5.82 EPS for the current year.

In related news, insider Kathy J. Claypatch sold 800 shares of the stock in a transaction on Friday, March 11th. The shares were sold at an average price of $92.16, for a total transaction of $73,728.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.30% of the company’s stock.

Large investors have recently bought and sold shares of the company. Invesco Ltd. increased its position in Grand Canyon Education by 1.0% during the fourth quarter. Invesco Ltd. now owns 101,787 shares of the company’s stock worth $8,723,000 after purchasing an additional 960 shares during the last quarter. Millennium Management LLC boosted its stake in shares of Grand Canyon Education by 45.3% in the fourth quarter. Millennium Management LLC now owns 79,368 shares of the company’s stock valued at $6,803,000 after purchasing an additional 24,742 shares during the period. D. E. Shaw & Co. Inc. purchased a new position in shares of Grand Canyon Education in the fourth quarter valued at $2,914,000. Marshall Wace LLP purchased a new position in shares of Grand Canyon Education in the fourth quarter valued at $1,001,000. Finally, MML Investors Services LLC boosted its stake in shares of Grand Canyon Education by 7.2% in the fourth quarter. MML Investors Services LLC now owns 8,731 shares of the company’s stock valued at $748,000 after purchasing an additional 585 shares during the period. 91.04% of the stock is owned by institutional investors and hedge funds.

Grand Canyon Education Company Profile (Get Rating)

Grand Canyon Education, Inc provides education services to colleges and universities in the United States. The company’s technology services include learning management system, internal administration, infrastructure, and support services; academic services comprises program and curriculum, faculty and related training and development, class scheduling, and skills and simulation lab sites; and counseling services and support include admission, financial aid, and field experience and other counseling services.

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