Perdoceo Education Co. (NASDAQ:PRDO) to Issue Quarterly Dividend of $0.11

Perdoceo Education Co. (NASDAQ:PRDO) declared a quarterly dividend on Wednesday, May 1st, Zacks reports. Stockholders of record on Saturday, June 1st will be paid a dividend of 0.11 per share on Saturday, June 15th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.81%. The ex-dividend date of this dividend is Friday, May 31st.

Perdoceo Education has a dividend payout ratio of 20.0% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Perdoceo Education to earn $2.30 per share next year, which means the company should continue to be able to cover its $0.44 annual dividend with an expected future payout ratio of 19.1%.

Perdoceo Education Price Performance

Shares of Perdoceo Education stock traded up $0.23 during trading on Friday, reaching $24.34. 1,290,775 shares of the company traded hands, compared to its average volume of 535,903. Perdoceo Education has a 1-year low of $11.50 and a 1-year high of $24.66. The company has a 50 day moving average price of $17.77 and a 200-day moving average price of $17.70. The firm has a market capitalization of $1.60 billion, a PE ratio of 10.66, a P/E/G ratio of 0.58 and a beta of 0.93.

Perdoceo Education (NASDAQ:PRDO) last released its 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 17.33%. The company had revenue of $168.30 million for the quarter, compared to the consensus estimate of $163.30 million. During the same quarter in the previous year, the company earned $0.58 EPS. Perdoceo Education’s quarterly revenue was down 14.0% compared to the same quarter last year. Equities research analysts expect that Perdoceo Education will post 2.12 earnings per share for the current year.

Insider Transactions at Perdoceo Education

In other news, CFO Ashish R. Ghia sold 11,412 shares of the company’s stock in a transaction on Friday, April 26th. The shares were sold at an average price of $19.00, for a total value of $216,828.00. Following the completion of the sale, the chief financial officer now owns 226,234 shares in the company, valued at approximately $4,298,446. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CEO Todd S. Nelson sold 16,000 shares of the stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $17.65, for a total transaction of $282,400.00. Following the completion of the transaction, the chief executive officer now owns 681,367 shares in the company, valued at $12,026,127.55. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Ashish R. Ghia sold 11,412 shares of the stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $19.00, for a total transaction of $216,828.00. Following the transaction, the chief financial officer now owns 226,234 shares of the company’s stock, valued at approximately $4,298,446. The disclosure for this sale can be found here. Insiders sold a total of 75,412 shares of company stock worth $1,342,428 in the last quarter. 1.81% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Barrington Research upped their price objective on shares of Perdoceo Education from $23.00 to $25.00 and gave the stock an “outperform” rating in a report on Thursday. StockNews.com downgraded shares of Perdoceo Education from a “strong-buy” rating to a “buy” rating in a report on Thursday, April 25th.

About Perdoceo Education

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.