K12 Inc (LRN) Releases Earnings Results, Misses Expectations By $0.22 EPS
K12 Inc (NYSE:LRN) released its quarterly earnings data on Tuesday. The company reported ($0.17) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.05 by $0.22, Briefing.com reports. The firm had revenue of $215.80 million for the quarter, compared to the consensus estimate of $218.15 million. K12 had a net margin of 0.67% and a return on equity of 3.19%. The business’s revenue for the quarter was down 2.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.09 earnings per share.
Shares of K12 (NYSE LRN) traded down 0.55% during mid-day trading on Tuesday, reaching $17.95. The company’s stock had a trading volume of 125,959 shares. The firm has a market cap of $686.59 million, a price-to-earnings ratio of 118.87 and a beta of -0.20. The firm has a 50 day moving average price of $18.00 and a 200 day moving average price of $18.62. K12 has a 52-week low of $10.17 and a 52-week high of $21.18.
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LRN has been the topic of a number of analyst reports. BMO Capital Markets reiterated a “buy” rating and issued a $22.00 price target on shares of K12 in a research report on Wednesday, April 12th. Zacks Investment Research upgraded K12 from a “hold” rating to a “strong-buy” rating and set a $22.00 price target on the stock in a research report on Tuesday, May 2nd. Finally, BidaskClub cut K12 from a “sell” rating to a “strong sell” rating in a research report on Tuesday, July 25th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the stock. K12 has a consensus rating of “Hold” and an average price target of $17.75.
In other K12 news, EVP Allison Cleveland sold 5,600 shares of K12 stock in a transaction on Thursday, June 15th. The stock was sold at an average price of $18.66, for a total value of $104,496.00. Following the completion of the transaction, the executive vice president now directly owns 99,916 shares of the company’s stock, valued at approximately $1,864,432.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO James Jeaho Rhyu sold 5,000 shares of K12 stock in a transaction on Wednesday, June 7th. The shares were sold at an average price of $18.55, for a total value of $92,750.00. Following the completion of the transaction, the chief financial officer now directly owns 275,624 shares of the company’s stock, valued at $5,112,825.20. The disclosure for this sale can be found here. Insiders sold a total of 45,600 shares of company stock valued at $833,746 over the last ninety days. Insiders own 18.34% of the company’s stock.
K12 Company Profile
K12 Inc (K12) is a technology-based education company. The Company offers curriculum, software systems and educational services designed to facilitate individualized learning for students in kindergarten through 12th grade (K-12). It provides a continuum of technology-based educational products and solutions to public school districts, public schools, virtual charter schools, private schools and families.
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