Grand Canyon Education (NASDAQ:LOPE) Updates Q2 2024 Earnings Guidance

Grand Canyon Education (NASDAQ:LOPE) updated its second quarter 2024 earnings guidance on Wednesday. The company provided EPS guidance of 1.070-1.110 for the period, compared to the consensus EPS estimate of 1.070. The company issued revenue guidance of $222.0 million-$224.0 million, compared to the consensus revenue estimate of $223.2 million. Grand Canyon Education also updated its FY 2024 guidance to 7.570-8.040 EPS.

Grand Canyon Education Stock Up 1.5 %

NASDAQ LOPE traded up $2.18 during mid-day trading on Thursday, hitting $149.26. The stock had a trading volume of 276,848 shares, compared to its average volume of 202,621. The company has a 50 day simple moving average of $133.57 and a 200 day simple moving average of $132.48. The company has a market cap of $4.45 billion, a price-to-earnings ratio of 20.88, 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 $156.56.

Grand Canyon Education (NASDAQ:LOPE) last announced its quarterly earnings results on Tuesday, May 7th. The company reported $2.35 earnings per share for the quarter, beating analysts’ consensus estimates of $2.22 by $0.13. Grand Canyon Education had a return on equity of 31.75% and a net margin of 21.33%. The business had revenue of $274.68 million during the quarter, compared to analysts’ expectations of $272.42 million. During the same quarter last year, the business posted $2.00 earnings per share. The business’s revenue for the quarter was up 9.8% on a year-over-year basis. As a group, equities analysts anticipate that Grand Canyon Education will post 7.65 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on LOPE. Barrington Research raised their price objective on shares of Grand Canyon Education from $160.00 to $165.00 and gave the stock an outperform rating in a research note on Wednesday. Robert W. Baird raised their price target on Grand Canyon Education from $165.00 to $170.00 and gave the stock an outperform rating in a research report on Wednesday. Finally, BMO Capital Markets boosted their price target on Grand Canyon Education from $150.00 to $155.00 and gave the stock an outperform rating in a report on Wednesday.

Insider Activity

In other Grand Canyon Education news, CTO Dilek Marsh sold 1,500 shares of the stock in a transaction on Monday, March 18th. The stock was sold at an average price of $132.65, for a total transaction of $198,975.00. Following the transaction, the chief technology officer now owns 25,674 shares of the company’s stock, valued at approximately $3,405,656.10. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 2.00% of the company’s stock.

Grand Canyon Education Company Profile

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.