Grand Canyon Education (NASDAQ:LOPE) Releases FY 2024 Earnings Guidance

Grand Canyon Education (NASDAQ:LOPE) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of 7.570-8.040 for the period, compared to the consensus estimate of 7.650. The company issued revenue guidance of $1.0 billion-$1.0 billion, compared to the consensus revenue estimate of $1.0 billion. Grand Canyon Education also updated its Q2 2024 guidance to 1.070-1.110 EPS.

Wall Street Analysts Forecast Growth

LOPE has been the subject of several research reports. BMO Capital Markets raised their price objective on shares of Grand Canyon Education from $150.00 to $155.00 and gave the stock an outperform rating in a research report on Wednesday. Barrington Research lifted their price target on Grand Canyon Education from $160.00 to $165.00 and gave the stock an outperform rating in a report on Wednesday. Finally, Robert W. Baird upped their price objective on Grand Canyon Education from $165.00 to $170.00 and gave the company an outperform rating in a report on Wednesday.

Grand Canyon Education Trading Up 1.5 %

Shares of NASDAQ:LOPE traded up $2.18 on Thursday, reaching $149.26. 276,848 shares of the company’s stock were exchanged, compared to its average volume of 202,621. Grand Canyon Education has a twelve month low of $99.65 and a twelve month high of $156.56. The company has a fifty day moving average of $133.57 and a 200-day moving average of $132.48. The company has a market capitalization of $4.45 billion, a price-to-earnings ratio of 20.88, a PEG ratio of 1.19 and a beta of 0.60.

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

Insider Transactions at Grand Canyon Education

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 shares were sold at an average price of $132.65, for a total value of $198,975.00. Following the transaction, the chief technology officer now directly owns 25,674 shares of the company’s stock, valued at $3,405,656.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.00% of the stock is currently owned by insiders.

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.