Perdoceo Education Co. (NASDAQ:PRDO) to Issue Quarterly Dividend of $0.13

Perdoceo Education Co. (NASDAQ:PRDO) declared a quarterly dividend on Thursday, November 14th,Wall Street Journal reports. Investors of record on Monday, December 2nd will be given a dividend of 0.13 per share on Friday, December 13th. This represents a $0.52 dividend on an annualized basis and a yield of 1.98%. The ex-dividend date of this dividend is Monday, December 2nd.

Perdoceo Education has a payout ratio of 23.1% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Perdoceo Education to earn $2.34 per share next year, which means the company should continue to be able to cover its $0.52 annual dividend with an expected future payout ratio of 22.2%.

Perdoceo Education Stock Down 5.9 %

Shares of Perdoceo Education stock traded down $1.66 during midday trading on Thursday, hitting $26.30. The company’s stock had a trading volume of 585,334 shares, compared to its average volume of 466,045. The firm has a market capitalization of $1.73 billion, a P/E ratio of 14.05, a PEG ratio of 0.76 and a beta of 1.04. Perdoceo Education has a 1-year low of $16.12 and a 1-year high of $29.47. The stock has a 50-day simple moving average of $22.07 and a 200-day simple moving average of $22.33.

Perdoceo Education (NASDAQ:PRDO) last issued its earnings results on Tuesday, November 12th. The company reported $0.59 earnings per share for the quarter, beating analysts’ consensus estimates of $0.53 by $0.06. Perdoceo Education had a return on equity of 15.88% and a net margin of 20.42%. The company had revenue of $169.83 million for the quarter, compared to the consensus estimate of $164.60 million. During the same quarter in the prior year, the company earned $0.64 EPS. The firm’s quarterly revenue was down 5.6% on a year-over-year basis. As a group, sell-side analysts predict that Perdoceo Education will post 2.19 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, Barrington Research lifted their price objective on Perdoceo Education from $30.00 to $32.00 and gave the company an “outperform” rating in a research report on Wednesday.

Insider Buying and Selling

In other Perdoceo Education news, insider Michele A. Peppers sold 6,476 shares of Perdoceo Education stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $21.00, for a total value of $135,996.00. Following the completion of the sale, the insider now directly owns 61,952 shares in the company, valued at $1,300,992. The trade was a 9.46 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.81% of the stock is currently owned by corporate insiders.

About Perdoceo Education

Perdoceo Education Corporation provides postsecondary education through online, campus-based, and blended learning programs in the United States. It operates in two segments, Colorado Technical University and The American InterContinental University System. The Colorado Technical University segment offers academic programs, such as business and management, nursing, healthcare management, computer science, engineering, information systems and technology, project management, cybersecurity, and criminal justice.