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

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

NASDAQ:LOPE traded up $1.47 during mid-day trading on Tuesday, hitting $139.78. The stock had a trading volume of 315,230 shares, compared to its average volume of 198,762. The company’s 50 day simple moving average is $133.01 and its 200 day simple moving average is $132.26. The stock has a market cap of $4.16 billion, a price-to-earnings ratio of 20.56, a PEG ratio of 1.19 and a beta of 0.60. Grand Canyon Education has a twelve month low of $99.65 and a twelve month high of $144.94.

Grand Canyon Education (NASDAQ:LOPE) last released its quarterly earnings data on Tuesday, February 13th. The company reported $2.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.72 by $0.05. The company had revenue of $278.28 million during the quarter, compared to analysts’ expectations of $275.00 million. Grand Canyon Education had a return on equity of 31.75% and a net margin of 21.33%. As a group, equities analysts forecast that Grand Canyon Education will post 7.65 earnings per share for the current year.

Analysts Set New Price Targets

Separately, Barrington Research reiterated an outperform rating and issued a $160.00 price objective on shares of Grand Canyon Education in a report on Thursday, April 18th.

Insiders Place Their Bets

In related news, CTO Dilek Marsh sold 1,500 shares of Grand Canyon Education stock in a transaction that occurred 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 completion of the sale, 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 legal filing with the SEC, which is accessible through the SEC website. Company insiders own 2.00% of the company’s stock.

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.