Analysts Offer Predictions for PRDO FY2024 Earnings

Perdoceo Education Co. (NASDAQ:PRDO) – Stock analysts at Barrington Research raised their FY2024 earnings estimates for shares of Perdoceo Education in a research note issued to investors on Wednesday, November 13th. Barrington Research analyst A. Paris now expects that the company will earn $2.27 per share for the year, up from their prior forecast of $2.19. Barrington Research currently has a “Outperform” rating and a $32.00 target price on the stock. The consensus estimate for Perdoceo Education’s current full-year earnings is $2.19 per share. Barrington Research also issued estimates for Perdoceo Education’s Q4 2024 earnings at $0.48 EPS.

Perdoceo Education (NASDAQ:PRDO) last released its quarterly earnings data on Tuesday, November 12th. The company reported $0.59 EPS for the quarter, topping the consensus estimate of $0.53 by $0.06. Perdoceo Education had a return on equity of 15.88% and a net margin of 20.42%. The firm had revenue of $169.83 million for the quarter, compared to the consensus estimate of $164.60 million. During the same quarter in the previous year, the business earned $0.64 earnings per share. The company’s quarterly revenue was down 5.6% on a year-over-year basis.

Separately, StockNews.com raised Perdoceo Education from a “buy” rating to a “strong-buy” rating in a research note on Thursday.

Perdoceo Education Stock Down 5.9 %

Shares of Perdoceo Education stock opened at $26.30 on Friday. The company’s fifty day simple moving average is $22.07 and its two-hundred day simple moving average is $22.33. Perdoceo Education has a 12-month low of $16.12 and a 12-month high of $29.47. The firm has a market cap of $1.73 billion, a PE ratio of 13.22, a price-to-earnings-growth ratio of 0.76 and a beta of 1.04.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in PRDO. Point72 Asia Singapore Pte. Ltd. purchased a new position in Perdoceo Education in the 3rd quarter worth approximately $228,000. Verition Fund Management LLC boosted its holdings in shares of Perdoceo Education by 183.0% during the 3rd quarter. Verition Fund Management LLC now owns 27,122 shares of the company’s stock valued at $603,000 after acquiring an additional 17,538 shares during the last quarter. Intech Investment Management LLC grew its position in Perdoceo Education by 220.8% in the 3rd quarter. Intech Investment Management LLC now owns 56,839 shares of the company’s stock worth $1,264,000 after purchasing an additional 39,121 shares during the period. Jennison Associates LLC raised its stake in Perdoceo Education by 23.8% during the 3rd quarter. Jennison Associates LLC now owns 53,170 shares of the company’s stock valued at $1,183,000 after buying an additional 10,231 shares during the last quarter. Finally, Banque Cantonale Vaudoise raised its stake in Perdoceo Education by 59.7% during the 3rd quarter. Banque Cantonale Vaudoise now owns 10,606 shares of the company’s stock valued at $236,000 after buying an additional 3,966 shares during the last quarter. Hedge funds and other institutional investors own 93.46% of the company’s stock.

Insider Activity

In other news, insider Michele A. Peppers sold 6,476 shares of the business’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $21.00, for a total transaction of $135,996.00. Following the sale, the insider now owns 61,952 shares in the company, valued at approximately $1,300,992. The trade was a 9.46 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 1.81% of the company’s stock.

Perdoceo Education Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Monday, December 2nd will be given a $0.13 dividend. The ex-dividend date is Monday, December 2nd. This represents a $0.52 annualized dividend and a dividend yield of 1.98%. Perdoceo Education’s dividend payout ratio is 26.13%.

Perdoceo Education Company Profile

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.