Grand Canyon Education (NASDAQ:LOPE) Updates Q2 2024 Earnings Guidance

Grand Canyon Education (NASDAQ:LOPE) updated its second quarter 2024 earnings guidance on Wednesday. The company provided EPS guidance of 1.070-1.110 for the period, compared to the consensus EPS estimate of 1.070. The company issued revenue guidance of $222.0 million-$224.0 million, compared to the consensus revenue estimate of $223.2 million. Grand Canyon Education also updated its FY 2024 guidance to 7.570-8.040 EPS.

Grand Canyon Education Stock Up 1.1 %

LOPE opened at $139.78 on Wednesday. Grand Canyon Education has a 52 week low of $99.65 and a 52 week high of $144.94. The business has a fifty day simple moving average of $133.01 and a 200-day simple moving average of $132.26. The firm has a market cap of $4.16 billion, a P/E ratio of 20.56, a P/E/G ratio of 1.19 and a beta of 0.60.

Grand Canyon Education (NASDAQ:LOPE) last announced its earnings results on Tuesday, May 7th. The company reported $2.35 EPS for the quarter, beating analysts’ consensus estimates of $2.22 by $0.13. The company had revenue of $274.68 million during the quarter, compared to analysts’ expectations of $272.42 million. Grand Canyon Education had a return on equity of 31.75% and a net margin of 21.33%. Grand Canyon Education’s revenue for the quarter was up 9.8% on a year-over-year basis. During the same period last year, the business posted $2.00 EPS. Sell-side analysts expect that Grand Canyon Education will post 7.65 earnings per share for the current year.

Wall Street Analyst Weigh In

LOPE has been the topic of a number of recent research reports. Robert W. Baird upped their price objective on Grand Canyon Education from $165.00 to $170.00 and gave the stock an outperform rating in a research report on Wednesday. Barrington Research reiterated an outperform rating and issued a $160.00 price target on shares of Grand Canyon Education in a research note on Thursday, April 18th.

Insider Buying and Selling

In related news, CTO Dilek Marsh sold 1,500 shares of the company’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $132.65, for a total value of $198,975.00. Following the completion of the sale, the chief technology officer now owns 25,674 shares in the company, valued at approximately $3,405,656.10. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 2.00% of the stock is currently owned by company insiders.

Grand Canyon Education Company Profile

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.