Grand Canyon Education (NASDAQ:LOPE – Get Rating) issued an update on its FY 2022 earnings guidance on Wednesday morning. The company provided earnings per share guidance of $5.580-$6.180 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $6.440. The company issued revenue guidance of $905 million-$930 million, compared to the consensus revenue estimate of $941.19 million.Grand Canyon Education also updated its Q1 2022 guidance to $1.690-$1.710 EPS.
NASDAQ LOPE traded up $1.14 during trading hours on Friday, reaching $88.55. The company had a trading volume of 335,367 shares, compared to its average volume of 421,829. The stock has a 50-day moving average of $84.66 and a 200 day moving average of $84.29. Grand Canyon Education has a 1-year low of $70.00 and a 1-year high of $115.96. The stock has a market capitalization of $3.13 billion, a P/E ratio of 14.73, a price-to-earnings-growth ratio of 0.98 and a beta of 0.49.
Grand Canyon Education (NASDAQ:LOPE – Get Rating) last posted its earnings results on Tuesday, February 15th. The company reported $2.11 EPS for the quarter, meeting the Zacks’ consensus estimate of $2.11. Grand Canyon Education had a net margin of 29.04% and a return on equity of 18.92%. The company had revenue of $251.40 million for the quarter, compared to analysts’ expectations of $252.41 million. During the same quarter in the prior year, the company posted $1.89 earnings per share. Grand Canyon Education’s revenue for the quarter was up 5.5% compared to the same quarter last year. As a group, research analysts forecast that Grand Canyon Education will post 5.89 EPS for the current fiscal year.
A number of research analysts have commented on LOPE shares. Zacks Investment Research cut shares of Grand Canyon Education from a hold rating to a strong sell rating in a research report on Tuesday, February 22nd. Barrington Research cut their price target on shares of Grand Canyon Education from $100.00 to $90.00 in a research note on Thursday, February 17th. Robert W. Baird cut their price target on shares of Grand Canyon Education from $105.00 to $95.00 in a research note on Thursday, February 17th. Berenberg Bank lowered shares of Grand Canyon Education from a buy rating to a hold rating and cut their price target for the stock from $110.00 to $86.00 in a research note on Friday, January 28th. Finally, BMO Capital Markets cut their price target on shares of Grand Canyon Education from $105.00 to $92.00 in a research note on Friday, February 18th.
Hedge funds have recently added to or reduced their stakes in the stock. Invesco Ltd. increased its stake in shares of Grand Canyon Education by 1.0% during the fourth quarter. Invesco Ltd. now owns 101,787 shares of the company’s stock worth $8,723,000 after buying an additional 960 shares during the period. Millennium Management LLC increased its stake in shares of Grand Canyon Education by 45.3% during the fourth quarter. Millennium Management LLC now owns 79,368 shares of the company’s stock worth $6,803,000 after buying an additional 24,742 shares during the period. D. E. Shaw & Co. Inc. purchased a new stake in shares of Grand Canyon Education during the fourth quarter worth approximately $2,914,000. Marshall Wace LLP purchased a new stake in shares of Grand Canyon Education during the fourth quarter worth approximately $1,001,000. Finally, MML Investors Services LLC increased its stake in shares of Grand Canyon Education by 7.2% during the fourth quarter. MML Investors Services LLC now owns 8,731 shares of the company’s stock worth $748,000 after buying an additional 585 shares during the period. Hedge funds and other institutional investors own 91.79% of the company’s stock.
Grand Canyon Education Company Profile (Get Rating)
Grand Canyon Education, Inc engages in the provision of education services. It offers graduate and undergraduate degree programs and certificates across colleges. The company was founded by Christopher C. Richardson and Brent D. Richardson in November 2003 and is headquartered in Phoenix, AZ.
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