Perdoceo Education (NASDAQ:PRDO) Issues Quarterly Earnings Results

Perdoceo Education (NASDAQ:PRDO) posted its quarterly earnings data on Wednesday. The company reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.53 by $0.07, Briefing.com reports. The firm had revenue of $168.30 million for the quarter, compared to analysts’ expectations of $163.30 million. Perdoceo Education had a return on equity of 17.63% and a net margin of 20.80%. The company’s quarterly revenue was down 14.0% compared to the same quarter last year. During the same quarter last year, the business earned $0.58 EPS.

Perdoceo Education Stock Up 26.7 %

Shares of PRDO stock traded up $4.90 during mid-day trading on Thursday, reaching $23.24. 1,172,019 shares of the stock traded hands, compared to its average volume of 514,457. The stock’s fifty day simple moving average is $17.62 and its two-hundred day simple moving average is $17.65. Perdoceo Education has a 1-year low of $11.50 and a 1-year high of $23.60. The company has a market cap of $1.52 billion, a price-to-earnings ratio of 10.60, a price-to-earnings-growth ratio of 0.58 and a beta of 0.92.

Perdoceo Education Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were paid a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.89%. The ex-dividend date was Thursday, February 29th. Perdoceo Education’s payout ratio is 20.18%.

Analysts Set New Price Targets

Several research firms have weighed in on PRDO. StockNews.com cut Perdoceo Education from a “strong-buy” rating to a “buy” rating in a research report on Thursday, April 25th. Barrington Research reiterated an “outperform” rating and issued a $23.00 target price on shares of Perdoceo Education in a research report on Monday, April 15th.

Insider Activity

In related news, CFO Ashish R. Ghia sold 11,412 shares of Perdoceo Education stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $19.00, for a total value of $216,828.00. Following the transaction, the chief financial officer now directly owns 226,234 shares of the company’s stock, valued at $4,298,446. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Perdoceo Education news, CFO Ashish R. Ghia sold 11,412 shares of Perdoceo Education stock in a transaction that occurred on Friday, April 26th. The stock was 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 directly owns 226,234 shares in the company, valued at $4,298,446. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Todd S. Nelson sold 16,000 shares of Perdoceo Education stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $17.70, for a total value of $283,200.00. Following the completion of the sale, the chief executive officer now owns 617,367 shares of the company’s stock, valued at $10,927,395.90. The disclosure for this sale can be found here. Over the last three months, insiders have sold 75,412 shares of company stock valued at $1,342,428. 1.81% of the stock is currently owned by corporate insiders.

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.