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

Grand Canyon Education (NASDAQ:LOPE) updated its FY24 earnings guidance on Tuesday. The company provided earnings per share guidance of $7.35-7.82 for the period, compared to the consensus earnings per share 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 Trading Up 5.2 %

Shares of NASDAQ LOPE traded up $7.30 during trading on Wednesday, reaching $147.08. The company had a trading volume of 466,651 shares, compared to its average volume of 201,720. Grand Canyon Education has a twelve month low of $99.65 and a twelve month high of $156.56. The stock has a 50-day moving average price of $133.28 and a two-hundred day moving average price of $132.36. The stock has a market capitalization of $4.38 billion, a PE ratio of 21.63, a price-to-earnings-growth 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 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $274.68 million during the quarter, compared to the consensus estimate of $272.42 million. During the same quarter in the previous year, the company posted $2.00 EPS. The firm’s revenue for the quarter was up 9.8% on a year-over-year basis. On average, sell-side analysts predict that Grand Canyon Education will post 7.65 EPS for the current year.

Analyst Upgrades and Downgrades

LOPE has been the subject of several analyst reports. BMO Capital Markets boosted their price target on Grand Canyon Education from $150.00 to $155.00 and gave the company an outperform rating in a report on Wednesday. Barrington Research increased their target price on Grand Canyon Education from $160.00 to $165.00 and gave the stock an outperform rating in a research report on Wednesday. Finally, Robert W. Baird lifted their price target on Grand Canyon Education from $165.00 to $170.00 and gave the company an outperform rating in a report on Wednesday.

Insider Buying and Selling at Grand Canyon Education

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 transaction, the chief technology officer now directly owns 25,674 shares of the company’s stock, valued at approximately $3,405,656.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.00% of the stock is owned by company insiders.

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.