Grand Canyon Education (NASDAQ: LOPE) Releases Q2 2022 Earnings Guidance


Grand Canyon Education (NASDAQ: LOPE – Get Rating) issued an update on its second quarter 2022 earnings guidance on Monday morning. The company provided earnings per share (EPS) guidance of $ 0.80- $ 0.87 for the period, compared to the consensus estimate of $ 0.85. The company issued revenue guidance of $ 199.50 million- $ 202.70 million, compared to the consensus revenue estimate of $ 201.40 million.Grand Canyon Education also updated its FY 2022 guidance to $ 5.53- $ 6.09 EPS.

Shares of NASDAQ: LOPE traded down $ 2.79 during trading hours on Monday, hitting $ 91.72. 464,027 shares of the company’s stock traded hands, compared to its average volume of 391,086. Grand Canyon Education has a 52 week low of $ 70.00 and a 52 week high of $ 102.04. The company’s fifty day simple moving average is $ 96.34 and its two-hundred day simple moving average is $ 87.25. The company has a market cap of $ 3.01 billion, a price-to-earnings ratio of 15.80, a price-to-earnings-growth ratio of 1.08 and a beta of 0.50.

Grand Canyon Education (NASDAQ: LOPE – Get Rating) last announced its earnings results on Wednesday, May 4th. The company reported $ 1.72 EPS for the quarter, topping the consensus estimate of $ 1.70 by $ 0.02. Grand Canyon Education had a net margin of 26.59% and a return on equity of 20.81%. The company had revenue of $ 244.13 million during the quarter, compared to analysts’ expectations of $ 241.78 million. During the same period last year, the company posted $ 1.72 earnings per share. The business’s revenue for the quarter was up 3.1% on a year-over-year basis. Analysts expect that Grand Canyon Education will post 5.82 EPS for the current fiscal year.

Several brokerages have commented on LOPE. BMO Capital Markets decreased their target price on shares of Grand Canyon Education from $ 105.00 to $ 92.00 in a report on Friday, February 18th. Robert W. Baird raised their target price on shares of Grand Canyon Education from $ 95.00 to $ 111.00 in a report on Thursday. TheStreet upgraded shares of Grand Canyon Education from a c + rating to ab rating in a report on Tuesday, April 5th. Barrington Research increased their price target on shares of Grand Canyon Education from $ 100.00 to $ 110.00 in a research report on Thursday. Finally, StockNews.com raised shares of Grand Canyon Education from a hold rating to a buy rating in a research report on Tuesday, May 3rd. Two analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, Grand Canyon Education presently has an average rating of Buy and a consensus price target of $ 100.00.

In other news, insider Kathy J. Claypatch sold 800 shares of the stock in a transaction that occurred on Friday, March 11th. The shares were sold at an average price of $ 92.16, for a total value of $ 73,728.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.30% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently modified their holdings of the stock. LPL Financial LLC raised its position in Grand Canyon Education by 10.6% during the third quarter. LPL Financial LLC now owns 3,382 shares of the company’s stock valued at $ 297,000 after acquiring an additional 324 shares in the last quarter. NEXT Financial Group Inc raised its position in shares of Grand Canyon Education by 15.5% in the fourth quarter. NEXT Financial Group Inc now owns 6,414 shares of the company’s stock valued at $ 550,000 after purchasing an additional 862 shares during the period. MML Investors Services LLC raised its position in shares of Grand Canyon Education by 7.2% in the fourth quarter. MML Investors Services LLC now owns 8,731 shares of the company’s stock valued at $ 748,000 after purchasing an additional 585 shares during the period. Marshall Wace LLP bought a new position in shares of Grand Canyon Education in the fourth quarter valued at approximately $ 1,001,000. Finally, DE Shaw & Co. Inc. bought a new position in shares of Grand Canyon Education in the fourth quarter valued at approximately $ 2,914,000. 91.04% of the stock is currently owned by hedge funds and other institutional investors.

About Grand Canyon Education (Get Rating)

Grand Canyon Education, Inc. provides education services to colleges and universities in the United States. The company’s technology services include learning management system, internal administration, infrastructure, and support services; academic services comprises program and curriculum, faculty and related training and development, class scheduling, and skills and simulation lab sites; and counseling services and support include admission, financial aid, and field experience and other counseling services.

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