Grand Canyon Education Rating Reiterated by Deutsche Bank (LOPE)
Grand Canyon Education (NASDAQ:LOPE)‘s stock had its “buy” rating restated by Deutsche Bank in a research note issued on Friday. They currently have a $50.00 price target on the stock, up from their previous price target of $49.00. Deutsche Bank’s price target suggests a potential upside of 16.28% from the stock’s previous close.
The analysts wrote, “Growth continues to outpace target. Grand Canyon reported another Q of positive start growth and +13% total enrollment growth vs +10% guidance. Online grew 11% vs plan for +6-8%. 2Q EPS of $0.49 beat our $0.46, the Street’s $0.45, and was 4 cents better than guidance ex lower tax & share count. We raise 3Q14 from $0.55 to $0.56 (Street $0.53) and ’15 by 2% from $2.45 to $2.50 (Street $2.44). Our Buy reflects our expectation for ongoing enrollment growth and positive, albeit moderating, margin expansion.”
Shares of Grand Canyon Education (NASDAQ:LOPE) traded up 2.53% on Friday, hitting $44.09. 52,115 shares of the company’s stock traded hands. Grand Canyon Education has a one year low of $32.39 and a one year high of $51.12. The stock’s 50-day moving average is $45.56 and its 200-day moving average is $45.64. The company has a market cap of $2.009 billion and a P/E ratio of 21.29.
Grand Canyon Education (NASDAQ:LOPE) last announced its earnings results on Thursday, July 31st. The company reported $0.49 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.45 by $0.04. The company had revenue of $158.60 million for the quarter, compared to the consensus estimate of $156.18 million. During the same quarter in the prior year, the company posted $0.45 earnings per share. The company’s quarterly revenue was up 12.1% on a year-over-year basis. On average, analysts predict that Grand Canyon Education will post $2.17 earnings per share for the current fiscal year.
Provides online post-secondary education services focused on offering graduate and undergraduate degree programs in education, business, and healthcare.
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