Grand Canyon Education (NASDAQ:LOPE) Releases Earnings Results, Beats Estimates By $0.02 EPS

Grand Canyon Education (NASDAQ:LOPE) announced its quarterly earnings results on Wednesday. The company reported $3.21 earnings per share for the quarter, beating analysts’ consensus estimates of $3.19 by $0.02, Zacks reports. Grand Canyon Education had a net margin of 19.38% and a return on equity of 32.41%. The firm had revenue of $308.12 million during the quarter, compared to analysts’ expectations of $307.92 million.

Grand Canyon Education Stock Up 3.4%

NASDAQ:LOPE traded up $5.44 during midday trading on Wednesday, reaching $167.79. The stock had a trading volume of 470,400 shares, compared to its average volume of 291,475. The stock has a market cap of $4.69 billion, a P/E ratio of 22.61, a P/E/G ratio of 1.06 and a beta of 0.74. The firm has a fifty day simple moving average of $169.35 and a two-hundred day simple moving average of $184.81. Grand Canyon Education has a 12-month low of $149.83 and a 12-month high of $223.04.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Wall Street Zen downgraded Grand Canyon Education from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. Barrington Research reiterated an “outperform” rating and issued a $230.00 price objective on shares of Grand Canyon Education in a research note on Thursday, January 22nd. Finally, Weiss Ratings lowered shares of Grand Canyon Education from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, January 13th. Two analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $220.00.

Institutional Trading of Grand Canyon Education

Several hedge funds have recently modified their holdings of LOPE. XTX Topco Ltd purchased a new position in Grand Canyon Education in the fourth quarter worth $1,696,000. Zacks Investment Management increased its holdings in shares of Grand Canyon Education by 0.9% in the 4th quarter. Zacks Investment Management now owns 9,718 shares of the company’s stock valued at $1,616,000 after purchasing an additional 90 shares in the last quarter. Wellington Management Group LLP lifted its stake in shares of Grand Canyon Education by 238.7% in the fourth quarter. Wellington Management Group LLP now owns 14,572 shares of the company’s stock valued at $2,423,000 after purchasing an additional 10,270 shares during the period. Toronto Dominion Bank purchased a new stake in Grand Canyon Education during the fourth quarter worth about $26,000. Finally, Tudor Investment Corp ET AL boosted its holdings in Grand Canyon Education by 545.1% during the fourth quarter. Tudor Investment Corp ET AL now owns 9,483 shares of the company’s stock worth $1,577,000 after buying an additional 8,013 shares in the last quarter. 94.17% of the stock is owned by institutional investors and hedge funds.

About Grand Canyon Education

Grand Canyon Education, Inc provides a suite of higher‐education services through a long-term agreement with Grand Canyon University (GCU), one of the nation’s largest private Christian universities. The company’s offerings encompass a full range of academic and operational support functions, including enrollment management, student recruitment, curriculum development, instructional delivery, and technology infrastructure. Through its online program management capabilities, Grand Canyon Education helps design, market and deliver undergraduate, graduate and certificate programs to meet the needs of both traditional and non‐traditional learners.

Core services include digital marketing, admissions support, student success coaching, learning management systems and faculty recruitment.