Grand Canyon Education (NASDAQ:LOPE) Updates Q3 2022 Earnings Guidance

Grand Canyon Education (NASDAQ:LOPEGet Rating) issued an update on its third quarter 2022 earnings guidance on Monday morning. The company provided EPS guidance of $0.93-$1.12 for the period. The company issued revenue guidance of $209.80 million-$218.00 million.Grand Canyon Education also updated its FY 2022 guidance to $5.53-$6.09 EPS.

Shares of NASDAQ LOPE traded up $1.28 during mid-day trading on Wednesday, hitting $90.03. 2,645 shares of the company traded hands, compared to its average volume of 416,071. Grand Canyon Education has a 1 year low of $70.00 and a 1 year high of $102.04. The stock has a market capitalization of $2.91 billion, a price-to-earnings ratio of 14.84, a PEG ratio of 1.00 and a beta of 0.50. The business has a 50 day moving average of $96.26 and a two-hundred day moving average of $87.30.

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

LOPE has been the subject of several analyst reports. Robert W. Baird upped their target price on Grand Canyon Education from $95.00 to $111.00 in a report on Thursday, May 5th. Barrington Research upped their price target on Grand Canyon Education from $100.00 to $110.00 in a research report on Thursday, May 5th. Berenberg Bank lowered Grand Canyon Education from a buy rating to a hold rating and dropped their price target for the company from $110.00 to $86.00 in a research report on Friday, January 28th. StockNews.com lowered Grand Canyon Education from a buy rating to a hold rating in a research report on Wednesday, May 11th. Finally, TheStreet raised Grand Canyon Education from a c+ rating to a b rating in a research report on Tuesday, April 5th. Three research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat.com, Grand Canyon Education has a consensus rating of Hold and a consensus price target of $100.00.

In related news, insider Kathy J. Claypatch sold 800 shares of the business’s stock in a transaction on Friday, March 11th. The shares were sold at an average price of $92.16, for a total transaction of $73,728.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 1.30% of the company’s stock.

A number of hedge funds have recently made changes to their positions in LOPE. Yousif Capital Management LLC increased its holdings in Grand Canyon Education by 0.8% in the 1st quarter. Yousif Capital Management LLC now owns 21,028 shares of the company’s stock valued at $2,042,000 after buying an additional 168 shares during the period. LPL Financial LLC increased its holdings in Grand Canyon Education by 10.6% in the 3rd quarter. LPL Financial LLC now owns 3,382 shares of the company’s stock valued at $297,000 after buying an additional 324 shares during the period. Covestor Ltd increased its holdings in Grand Canyon Education by 66.6% in the 1st quarter. Covestor Ltd now owns 1,123 shares of the company’s stock valued at $109,000 after buying an additional 449 shares during the period. Brinker Capital Investments LLC increased its holdings in Grand Canyon Education by 6.1% in the 1st quarter. Brinker Capital Investments LLC now owns 9,227 shares of the company’s stock valued at $896,000 after buying an additional 533 shares during the period. Finally, MML Investors Services LLC increased its holdings in Grand Canyon Education by 7.2% in the 4th quarter. MML Investors Services LLC now owns 8,731 shares of the company’s stock valued at $748,000 after buying an additional 585 shares during the period. 91.04% of the stock is currently owned by institutional investors and hedge funds.

Grand Canyon Education Company Profile (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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