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

Grand Canyon Education (NASDAQ:LOPE) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided earnings per share guidance of 8.020-8.050 for the period, compared to the consensus earnings per share estimate of 7.990. 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 Q4 guidance to $2.86-$2.89 EPS.

Grand Canyon Education Stock Performance

NASDAQ LOPE traded up $8.98 during trading on Friday, reaching $172.52. 504,597 shares of the company’s stock were exchanged, compared to its average volume of 162,311. The stock has a market cap of $5.08 billion, a P/E ratio of 22.67, a price-to-earnings-growth ratio of 1.34 and a beta of 0.70. The company has a 50 day moving average price of $139.96 and a two-hundred day moving average price of $141.66. Grand Canyon Education has a 1 year low of $118.48 and a 1 year high of $172.88.

Grand Canyon Education (NASDAQ:LOPE) last posted its earnings results on Wednesday, November 6th. The company reported $1.48 earnings per share for the quarter, beating the consensus estimate of $1.47 by $0.01. Grand Canyon Education had a return on equity of 31.20% and a net margin of 22.09%. The business had revenue of $238.30 million during the quarter, compared to the consensus estimate of $239.69 million. During the same period in the previous year, the business earned $1.26 EPS. The business’s quarterly revenue was up 7.4% on a year-over-year basis. Research analysts forecast that Grand Canyon Education will post 7.98 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Robert W. Baird boosted their target price on Grand Canyon Education from $170.00 to $186.00 and gave the company an “outperform” rating in a report on Thursday. Barrington Research boosted their target price on Grand Canyon Education from $165.00 to $180.00 and gave the company an “outperform” rating in a report on Thursday. BMO Capital Markets boosted their target price on Grand Canyon Education from $152.00 to $173.00 and gave the company an “outperform” rating in a report on Thursday. Finally, StockNews.com raised Grand Canyon Education from a “hold” rating to a “buy” rating in a report on Thursday.

Insider Buying and Selling

In related news, CTO Dilek Marsh sold 1,500 shares of the company’s stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $141.23, for a total transaction of $211,845.00. Following the transaction, the chief technology officer now owns 22,674 shares of the company’s stock, valued at $3,202,249.02. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 2.00% of the stock is currently owned by corporate insiders.

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.