Grand Canyon Education (NASDAQ:LOPE) Issues Q3 2024 Earnings Guidance

Grand Canyon Education (NASDAQ:LOPE) issued an update on its third quarter 2024 earnings guidance on Wednesday morning. The company provided EPS guidance of 1.350-1.510 for the period. The company issued revenue guidance of $236.5 million-$244.0 million. Grand Canyon Education also updated its FY 2024 guidance to 7.570-8.040 EPS.

Grand Canyon Education Stock Up 1.1 %

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

Grand Canyon Education (NASDAQ:LOPE) last issued its earnings results on Tuesday, May 7th. The company reported $2.35 EPS for the quarter, topping analysts’ consensus estimates of $2.22 by $0.13. Grand Canyon Education had a net margin of 21.33% and a return on equity of 31.75%. The company had revenue of $274.68 million for the quarter, compared to the consensus estimate of $272.42 million. During the same period in the previous year, the firm earned $2.00 earnings per share. Grand Canyon Education’s quarterly revenue was up 9.8% compared to the same quarter last year. Research analysts expect that Grand Canyon Education will post 7.65 EPS for the current year.

Wall Street Analyst Weigh In

LOPE has been the subject of several research analyst reports. Barrington Research reaffirmed an outperform rating and set a $160.00 target price on shares of Grand Canyon Education in a research note on Thursday, April 18th. Robert W. Baird boosted their price target on shares of Grand Canyon Education from $165.00 to $170.00 and gave the stock an outperform rating in a research note on Wednesday.

Insider Activity

In other news, CTO Dilek Marsh sold 1,500 shares of Grand Canyon Education stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $132.65, for a total value of $198,975.00. Following the completion of the transaction, the chief technology officer now owns 25,674 shares in the company, valued at approximately $3,405,656.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 2.00% of the company’s stock.

About Grand Canyon Education

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.