Grand Canyon Education, Inc. (LOPE) Expected to Post Quarterly Sales of $231.16 Million
Wall Street analysts forecast that Grand Canyon Education, Inc. (NASDAQ:LOPE) will post $231.16 million in sales for the current fiscal quarter, Zacks reports. Two analysts have made estimates for Grand Canyon Education’s earnings. The lowest sales estimate is $231.00 million and the highest is $231.31 million. Grand Canyon Education reported sales of $210.44 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 9.8%. The company is expected to report its next quarterly earnings report on Wednesday, November 1st.
According to Zacks, analysts expect that Grand Canyon Education will report full year sales of $231.16 million for the current year, with estimates ranging from $964.41 million to $965.89 million. For the next fiscal year, analysts forecast that the business will post sales of $1.04 billion per share. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that cover Grand Canyon Education.
Grand Canyon Education (NASDAQ:LOPE) last announced its quarterly earnings results on Tuesday, August 1st. The company reported $0.83 EPS for the quarter, topping the consensus estimate of $0.68 by $0.15. The business had revenue of $218.30 million for the quarter, compared to analysts’ expectations of $213.08 million. Grand Canyon Education had a net margin of 18.77% and a return on equity of 21.77%. The business’s quarterly revenue was up 14.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.59 EPS.
Several analysts have recently issued reports on the stock. ValuEngine upgraded shares of Grand Canyon Education from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Zacks Investment Research lowered shares of Grand Canyon Education from a “buy” rating to a “hold” rating and set a $91.00 target price on the stock. in a research report on Wednesday, June 21st. BidaskClub upgraded shares of Grand Canyon Education from a “sell” rating to a “hold” rating in a research report on Monday, August 7th. Finally, Barrington Research reiterated an “outperform” rating and issued a $89.00 target price (up previously from $85.00) on shares of Grand Canyon Education in a research report on Tuesday, August 8th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Grand Canyon Education presently has an average rating of “Buy” and a consensus price target of $78.50.
In other news, insider Joseph N. Mildenhall sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, August 9th. The shares were sold at an average price of $80.17, for a total value of $400,850.00. Following the transaction, the insider now directly owns 88,798 shares of the company’s stock, valued at $7,118,935.66. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO William Stan Meyer sold 1,315 shares of the firm’s stock in a transaction dated Thursday, August 10th. The stock was sold at an average price of $80.35, for a total transaction of $105,660.25. Following the completion of the transaction, the chief operating officer now directly owns 99,774 shares in the company, valued at $8,016,840.90. The disclosure for this sale can be found here. Over the last three months, insiders sold 130,231 shares of company stock worth $10,207,539. Insiders own 3.00% of the company’s stock.
Large investors have recently bought and sold shares of the company. Acadian Asset Management LLC lifted its stake in shares of Grand Canyon Education by 49.3% in the second quarter. Acadian Asset Management LLC now owns 115,520 shares of the company’s stock worth $9,059,000 after buying an additional 38,148 shares in the last quarter. Prudential Financial Inc. lifted its stake in shares of Grand Canyon Education by 75.6% in the first quarter. Prudential Financial Inc. now owns 154,693 shares of the company’s stock worth $11,078,000 after buying an additional 66,580 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of Grand Canyon Education by 5.5% in the first quarter. Vanguard Group Inc. now owns 3,775,228 shares of the company’s stock worth $270,343,000 after buying an additional 197,721 shares in the last quarter. Summit Creek Advisors LLC lifted its stake in shares of Grand Canyon Education by 53.9% in the second quarter. Summit Creek Advisors LLC now owns 110,350 shares of the company’s stock worth $8,653,000 after buying an additional 38,660 shares in the last quarter. Finally, Teachers Advisors LLC lifted its stake in shares of Grand Canyon Education by 2.2% in the first quarter. Teachers Advisors LLC now owns 435,609 shares of the company’s stock worth $31,194,000 after buying an additional 9,424 shares in the last quarter. 96.57% of the stock is currently owned by hedge funds and other institutional investors.
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Shares of Grand Canyon Education (NASDAQ LOPE) opened at 79.85 on Friday. The stock has a market cap of $3.77 billion, a PE ratio of 22.04 and a beta of 1.40. The firm has a 50-day moving average of $79.10 and a 200 day moving average of $75.18. 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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