Brokerages Anticipate Grand Canyon Education, Inc. (LOPE) Will Announce Earnings of $0.75 Per Share
Wall Street analysts forecast that Grand Canyon Education, Inc. (NASDAQ:LOPE) will post earnings per share of $0.75 for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for Grand Canyon Education’s earnings, with the lowest EPS estimate coming in at $0.75 and the highest estimate coming in at $0.76. Grand Canyon Education reported earnings of $0.67 per share during the same quarter last year, which indicates a positive year over year growth rate of 11.9%. The firm is scheduled to issue its next quarterly earnings report on Wednesday, November 1st.
On average, analysts expect that Grand Canyon Education will report full-year earnings of $3.83 per share for the current financial year, with EPS estimates ranging from $3.82 to $3.84. For the next fiscal year, analysts anticipate that the company will report earnings of $4.07 per share, with EPS estimates ranging from $4.01 to $4.15. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Grand Canyon Education.
Grand Canyon Education (NASDAQ:LOPE) last issued its earnings results on Tuesday, August 1st. The company reported $0.83 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.68 by $0.15. Grand Canyon Education had a return on equity of 21.77% and a net margin of 18.77%. The firm had revenue of $218.30 million for the quarter, compared to analyst estimates of $213.08 million. During the same period last year, the company earned $0.59 earnings per share. The firm’s revenue for the quarter was up 14.1% on a year-over-year basis.
Several equities analysts recently commented on the company. Barrington Research restated an “outperform” rating and set a $89.00 target price (up previously from $85.00) on shares of Grand Canyon Education in a research report on Wednesday, August 2nd. Zacks Investment Research upgraded Grand Canyon Education from a “hold” rating to a “buy” rating and set a $86.00 target price for the company in a research report on Tuesday, May 23rd. BidaskClub downgraded Grand Canyon Education from a “buy” rating to a “hold” rating in a research report on Wednesday, July 19th. Finally, ValuEngine upgraded Grand Canyon Education from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $78.50.
In other Grand Canyon Education news, CFO Daniel E. Bachus sold 14,000 shares of Grand Canyon Education stock in a transaction on Monday, June 12th. The stock was sold at an average price of $79.40, for a total value of $1,111,600.00. Following the completion of the transaction, the chief financial officer now owns 119,105 shares in the company, valued at approximately $9,456,937. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Brian E. Mueller sold 30,000 shares of Grand Canyon Education stock in a transaction on Monday, June 12th. The shares were sold at an average price of $79.34, for a total value of $2,380,200.00. Following the completion of the transaction, the chief executive officer now owns 311,524 shares of the company’s stock, valued at approximately $24,716,314.16. The disclosure for this sale can be found here. In the last quarter, insiders sold 130,231 shares of company stock valued at $10,207,539. Corporate insiders own 3.00% of the company’s stock.
A number of institutional investors and hedge funds have recently modified their holdings of LOPE. BlackRock Inc. raised its position in Grand Canyon Education by 73,121.4% in the 1st quarter. BlackRock Inc. now owns 2,817,560 shares of the company’s stock valued at $201,765,000 after purchasing an additional 2,813,712 shares during the last quarter. William Blair Investment Management LLC raised its position in Grand Canyon Education by 1,271.1% in the 1st quarter. William Blair Investment Management LLC now owns 1,608,593 shares of the company’s stock valued at $115,191,000 after purchasing an additional 1,491,274 shares during the last quarter. FMR LLC raised its position in Grand Canyon Education by 36.9% in the 1st quarter. FMR LLC now owns 4,428,918 shares of the company’s stock valued at $317,155,000 after purchasing an additional 1,192,591 shares during the last quarter. Alliancebernstein L.P. raised its position in Grand Canyon Education by 15.7% in the 2nd quarter. Alliancebernstein L.P. now owns 1,808,294 shares of the company’s stock valued at $141,788,000 after purchasing an additional 245,284 shares during the last quarter. Finally, Vanguard Group Inc. raised its position in Grand Canyon Education by 5.5% in the 1st quarter. Vanguard Group Inc. now owns 3,775,228 shares of the company’s stock valued at $270,343,000 after purchasing an additional 197,721 shares during the last quarter. Hedge funds and other institutional investors own 96.57% of the company’s stock.
Shares of Grand Canyon Education (NASDAQ LOPE) traded up 0.06% during midday trading on Friday, reaching $79.96. The company’s stock had a trading volume of 106,914 shares. The company has a market capitalization of $3.78 billion, a price-to-earnings ratio of 22.07 and a beta of 1.40. The stock has a 50 day moving average price of $79.05 and a 200-day moving average price of $75.14. Grand Canyon Education has a 52-week low of $39.07 and a 52-week high of $85.94.
Grand Canyon Education Company Profile
Grand Canyon Education, Inc is engaged in the provision of postsecondary education. The Company is a regionally accredited university. The Company offers the degrees, including Doctor of Education, Doctor of Business Administration, Doctor of Nursing Practice, Doctor of Philosophy, Education Specialist, Master of Divinity, Master of Arts, Master of Education, Master of Business Administration and Master of Public Administration, Master of Public Health, Master of Science, Bachelor of Arts, Bachelor of Science, and a range of programs for its degrees.
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