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

Grand Canyon Education (NASDAQ:LOPE) issued an update on its second quarter 2024 earnings guidance on Wednesday morning. The company provided earnings per share guidance of 1.070-1.110 for the period, compared to the consensus earnings per share 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 Performance

LOPE traded up $2.18 during trading on Thursday, reaching $149.26. 276,848 shares of the stock were exchanged, compared to its average volume of 202,621. The stock has a market cap of $4.45 billion, a P/E ratio of 20.88, a price-to-earnings-growth ratio of 1.19 and a beta of 0.60. The stock’s 50 day moving average price is $133.57 and its two-hundred day moving average price is $132.48. Grand Canyon Education has a twelve month low of $99.65 and a twelve month high of $156.56.

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

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Robert W. Baird upped their price objective on shares of Grand Canyon Education from $165.00 to $170.00 and gave the company an outperform rating in a report on Wednesday. BMO Capital Markets increased their price target on shares of Grand Canyon Education from $150.00 to $155.00 and gave the company an outperform rating in a report on Wednesday. Finally, 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 report on Wednesday.

Insider Activity

In related news, CTO Dilek Marsh sold 1,500 shares of the firm’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $132.65, for a total transaction 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 transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 2.00% of the stock is currently owned by company 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.