Grand Canyon Education (NASDAQ:LOPE) Issues Q3 2022 Earnings Guidance

Grand Canyon Education (NASDAQ:LOPEGet Rating) issued an update on its third quarter 2022 earnings guidance on Monday morning. The company provided earnings per share guidance of $0.93-$1.12 for the period. The company issued revenue guidance of $209.80 million-$218.00 million.Grand Canyon Education also updated its FY 2022 guidance to $5.53-$6.09 EPS.

Shares of Grand Canyon Education stock traded up $0.33 during trading on Thursday, hitting $88.10. 3,660 shares of the company were exchanged, compared to its average volume of 419,471. Grand Canyon Education has a 1-year low of $70.00 and a 1-year high of $102.04. The firm has a market capitalization of $2.85 billion, a P/E ratio of 14.68, a price-to-earnings-growth ratio of 1.01 and a beta of 0.50. The firm’s fifty day moving average price is $96.15 and its 200 day moving average price is $87.30.

Grand Canyon Education (NASDAQ:LOPEGet Rating) last released its quarterly earnings data on Wednesday, May 4th. The company reported $1.72 earnings per share for the quarter, beating the consensus estimate 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 business posted $1.72 EPS. Grand Canyon Education’s revenue for the quarter was up 3.1% on a year-over-year basis. Sell-side analysts predict that Grand Canyon Education will post 5.82 EPS for the current year.

Several equities analysts have recently weighed in on the company. Robert W. Baird lifted their price objective on Grand Canyon Education from $95.00 to $111.00 in a report on Thursday, May 5th. StockNews.com cut Grand Canyon Education from a buy rating to a hold rating in a report on Wednesday, May 11th. Berenberg Bank cut Grand Canyon Education from a buy rating to a hold rating and cut their target price for the company from $110.00 to $86.00 in a research note on Friday, January 28th. BMO Capital Markets cut their target price on Grand Canyon Education from $105.00 to $92.00 in a research note on Friday, February 18th. Finally, TheStreet upgraded Grand Canyon Education from a c+ rating to a b rating in a research note on Tuesday, April 5th. Three research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of Hold and an average price target of $100.00.

In related news, insider Kathy J. Claypatch sold 800 shares of the company’s stock in a transaction 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 filing with the Securities & Exchange Commission, which can be accessed through this link. 1.30% of the stock is owned by corporate insiders.

A number of institutional investors have recently bought and sold shares of LOPE. LPL Financial LLC raised its position in Grand Canyon Education by 10.6% in the third quarter. LPL Financial LLC now owns 3,382 shares of the company’s stock valued at $297,000 after purchasing an additional 324 shares during the last quarter. Invesco Ltd. raised its position in Grand Canyon Education by 1.0% in the fourth quarter. Invesco Ltd. now owns 101,787 shares of the company’s stock valued at $8,723,000 after purchasing an additional 960 shares during the last quarter. D. E. Shaw & Co. Inc. bought a new position in Grand Canyon Education in the fourth quarter valued at about $2,914,000. MML Investors Services LLC increased its stake in shares of Grand Canyon Education by 7.2% in the fourth 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 period. Finally, Millennium Management LLC increased its stake in shares of Grand Canyon Education by 45.3% in the fourth quarter. Millennium Management LLC now owns 79,368 shares of the company’s stock valued at $6,803,000 after buying an additional 24,742 shares during the period. Hedge funds and other institutional investors own 91.04% of the company’s stock.

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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