Barrington Research Analysts Boost Earnings Estimates for Perdoceo Education Co. (NASDAQ:PRDO)

Perdoceo Education Co. (NASDAQ:PRDO) – Investment analysts at Barrington Research raised their Q2 2024 earnings estimates for Perdoceo Education in a research note issued to investors on Thursday, May 2nd. Barrington Research analyst A. Paris now expects that the company will post earnings per share of $0.58 for the quarter, up from their prior estimate of $0.53. Barrington Research has a “Outperform” rating and a $25.00 price target on the stock. The consensus estimate for Perdoceo Education’s current full-year earnings is $2.21 per share. Barrington Research also issued estimates for Perdoceo Education’s Q3 2024 earnings at $0.53 EPS, Q4 2024 earnings at $0.50 EPS, FY2024 earnings at $2.21 EPS and FY2025 earnings at $2.34 EPS.

Separately, StockNews.com downgraded Perdoceo Education from a “strong-buy” rating to a “buy” rating in a report on Thursday, April 25th.

Perdoceo Education Stock Down 1.8 %

Shares of Perdoceo Education stock opened at $23.92 on Monday. Perdoceo Education has a 12 month low of $11.62 and a 12 month high of $24.66. The stock has a market cap of $1.57 billion, a PE ratio of 10.54, a price-to-earnings-growth ratio of 0.73 and a beta of 0.93. The business has a fifty day simple moving average of $18.17 and a 200-day simple moving average of $17.83.

Perdoceo Education (NASDAQ:PRDO) last released its quarterly earnings results on Wednesday, May 1st. The company reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.53 by $0.07. Perdoceo Education had a net margin of 22.35% and a return on equity of 17.09%. The business had revenue of $168.30 million for the quarter, compared to analyst estimates of $163.30 million. During the same quarter in the previous year, the business earned $0.58 earnings per share. The firm’s revenue was down 14.0% compared to the same quarter last year.

Hedge Funds Weigh In On Perdoceo Education

Large investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its position in Perdoceo Education by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 5,850,998 shares of the company’s stock valued at $102,744,000 after buying an additional 25,197 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Perdoceo Education by 1.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 5,064,870 shares of the company’s stock worth $88,940,000 after purchasing an additional 74,877 shares during the period. LSV Asset Management raised its holdings in Perdoceo Education by 59.4% during the 1st quarter. LSV Asset Management now owns 1,934,961 shares of the company’s stock worth $33,978,000 after purchasing an additional 721,122 shares during the last quarter. Pacer Advisors Inc. lifted its position in Perdoceo Education by 32.8% during the 4th quarter. Pacer Advisors Inc. now owns 1,602,905 shares of the company’s stock valued at $28,147,000 after purchasing an additional 395,481 shares during the period. Finally, Goldman Sachs Group Inc. lifted its position in Perdoceo Education by 43.0% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,217,547 shares of the company’s stock valued at $21,380,000 after purchasing an additional 366,202 shares during the period. 93.46% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Perdoceo Education

In related news, CEO Todd S. Nelson sold 16,000 shares of the company’s stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $17.23, for a total value of $275,680.00. Following the sale, the chief executive officer now owns 713,367 shares of the company’s stock, valued at $12,291,313.41. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CEO Todd S. Nelson sold 16,000 shares of the firm’s stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $17.23, for a total transaction of $275,680.00. Following the completion of the sale, the chief executive officer now directly owns 713,367 shares of the company’s stock, valued at approximately $12,291,313.41. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Ashish R. Ghia sold 11,412 shares of the business’s stock in a transaction on Friday, April 26th. The stock was sold at an average price of $19.00, for a total value of $216,828.00. Following the completion of the transaction, the chief financial officer now directly owns 226,234 shares in the company, valued at approximately $4,298,446. The disclosure for this sale can be found here. Insiders have sold 75,412 shares of company stock worth $1,342,428 over the last three months. Company insiders own 1.81% of the company’s stock.

Perdoceo Education Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Saturday, June 15th. Investors of record on Saturday, June 1st will be paid a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 1.84%. The ex-dividend date is Friday, May 31st. Perdoceo Education’s payout ratio is presently 19.38%.

Perdoceo Education Company Profile

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.