Grand Canyon Education (NASDAQ:LOPE) Issues FY 2022 Earnings Guidance

Grand Canyon Education (NASDAQ:LOPEGet Rating) issued an update on its FY 2022 earnings guidance on Monday morning. The company provided EPS guidance of $5.53-$6.09 for the period, compared to the consensus EPS estimate of $5.86. The company issued revenue guidance of $907.60 million-$931.60 million, compared to the consensus revenue estimate of $920.55 million.Grand Canyon Education also updated its Q2 2022 guidance to $0.80-$0.87 EPS.

Shares of LOPE traded up $0.33 during midday trading on Thursday, reaching $88.10. 3,660 shares of the stock were exchanged, compared to its average volume of 419,471. The business’s 50-day moving average price is $96.15 and its 200 day moving average price is $87.30. Grand Canyon Education has a twelve month low of $70.00 and a twelve month high of $102.04. The company has a market capitalization of $2.85 billion, a price-to-earnings ratio of 14.68, a PEG ratio of 1.01 and a beta of 0.50.

Grand Canyon Education (NASDAQ:LOPEGet Rating) last posted its earnings results on Wednesday, May 4th. The company reported $1.72 EPS for the quarter, topping analysts’ consensus estimates of $1.70 by $0.02. Grand Canyon Education had a return on equity of 20.81% and a net margin of 26.59%. The business had revenue of $244.13 million for the quarter, compared to analysts’ expectations of $241.78 million. During the same quarter in the previous year, the firm earned $1.72 earnings per share. The business’s revenue was up 3.1% compared to the same quarter last year. As a group, equities research analysts expect that Grand Canyon Education will post 5.82 earnings per share for the current year.

Several equities analysts recently issued reports on LOPE shares. Robert W. Baird boosted their price target on Grand Canyon Education from $95.00 to $111.00 in a research report on Thursday, May 5th. Barrington Research boosted their price target on Grand Canyon Education from $100.00 to $110.00 in a research report on Thursday, May 5th. BMO Capital Markets dropped their target price on Grand Canyon Education from $105.00 to $92.00 in a research report on Friday, February 18th. Zacks Investment Research upgraded Grand Canyon Education from a sell rating to a hold rating in a research report on Wednesday, April 20th. Finally, Berenberg Bank cut Grand Canyon Education from a buy rating to a hold rating and dropped their target price for the stock from $110.00 to $86.00 in a research report on Friday, January 28th. Three research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of Hold and an average price target of $100.00.

In other news, insider Kathy J. Claypatch sold 800 shares of the business’s stock in a transaction that occurred on Friday, March 11th. The stock was sold at an average price of $92.16, for a total transaction of $73,728.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 1.30% of the stock is owned by insiders.

A number of hedge funds have recently bought and sold shares of LOPE. Yousif Capital Management LLC increased its holdings in Grand Canyon Education by 0.8% in the 1st quarter. Yousif Capital Management LLC now owns 21,028 shares of the company’s stock valued at $2,042,000 after purchasing an additional 168 shares in the last quarter. LPL Financial LLC increased its holdings in Grand Canyon Education by 10.6% in the 3rd quarter. LPL Financial LLC now owns 3,382 shares of the company’s stock valued at $297,000 after purchasing an additional 324 shares in the last quarter. Covestor Ltd increased its holdings in Grand Canyon Education by 66.6% in the 1st quarter. Covestor Ltd now owns 1,123 shares of the company’s stock valued at $109,000 after purchasing an additional 449 shares in the last quarter. Brinker Capital Investments LLC increased its holdings in Grand Canyon Education by 6.1% in the 1st quarter. Brinker Capital Investments LLC now owns 9,227 shares of the company’s stock valued at $896,000 after purchasing an additional 533 shares in the last quarter. Finally, MML Investors Services LLC boosted its position in Grand Canyon Education by 7.2% in the 4th quarter. MML Investors Services LLC now owns 8,731 shares of the company’s stock valued at $748,000 after buying an additional 585 shares during the last quarter. 91.04% of the stock is currently owned by hedge funds and other institutional investors.

About Grand Canyon Education (Get Rating)

Grand Canyon Education, Inc provides education services to colleges and universities in the United States. The company's technology services include learning management system, internal administration, infrastructure, and support services; academic services comprises program and curriculum, faculty and related training and development, class scheduling, and skills and simulation lab sites; and counseling services and support include admission, financial aid, and field experience and other counseling services.

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