Grand Canyon Education (NASDAQ:LOPE) Updates FY24 Earnings Guidance

Grand Canyon Education (NASDAQ:LOPE) updated its FY24 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $7.35-7.82 for the period, compared to the consensus estimate of $7.65. The company issued revenue guidance of $1.02-1.04 billion, compared to the consensus revenue estimate of $1.03 billion. Grand Canyon Education also updated its Q2 guidance to $1.02-1.06 EPS.

Grand Canyon Education Price Performance

LOPE traded up $1.66 during trading on Thursday, reaching $148.74. The company had a trading volume of 188,926 shares, compared to its average volume of 201,524. The business’s fifty day moving average price is $133.28 and its 200 day moving average price is $132.36. Grand Canyon Education has a 12 month low of $99.65 and a 12 month high of $156.56. The company has a market cap of $4.43 billion, a P/E ratio of 21.63, a PEG ratio of 1.19 and a beta of 0.60.

Grand Canyon Education (NASDAQ:LOPE) last issued its quarterly 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 for the quarter, compared to analyst estimates of $272.42 million. Grand Canyon Education had a return on equity of 31.75% and a net margin of 21.33%. The company’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same period in the previous year, the company posted $2.00 earnings per share. As a group, sell-side analysts predict that Grand Canyon Education will post 7.65 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. BMO Capital Markets increased their target price on shares of Grand Canyon Education from $150.00 to $155.00 and gave the stock an outperform rating in a report on Wednesday. Barrington Research increased their price target on Grand Canyon Education from $160.00 to $165.00 and gave the company an outperform rating in a research report on Wednesday. Finally, Robert W. Baird boosted 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.

Insiders Place Their Bets

In other Grand Canyon Education news, CTO Dilek Marsh sold 1,500 shares of Grand Canyon Education stock in a transaction on Monday, March 18th. The shares were sold at an average price of $132.65, for a total transaction of $198,975.00. Following the completion of the transaction, the chief technology officer now directly owns 25,674 shares of the company’s stock, valued at $3,405,656.10. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 2.00% of the company’s stock.

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.