Grand Canyon Education, Inc. (LOPE) Releases Earnings Results, Beats Estimates By $0.05 EPS
Grand Canyon Education, Inc. (NASDAQ:LOPE) released its earnings results on Wednesday. The company reported $0.81 earnings per share for the quarter, beating analysts’ consensus estimates of $0.76 by $0.05, Briefing.com reports. Grand Canyon Education had a net margin of 18.77% and a return on equity of 21.77%. The company had revenue of $236.21 million for the quarter, compared to analysts’ expectations of $231.43 million. During the same quarter in the previous year, the company earned $0.62 EPS. Grand Canyon Education’s revenue for the quarter was up 12.2% on a year-over-year basis. Grand Canyon Education updated its Q4 guidance to $1.09 EPS.
A number of research analysts recently weighed in on the stock. 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 note on Tuesday, August 8th. BidaskClub cut shares of Grand Canyon Education from a “hold” rating to a “sell” rating in a research note on Tuesday, August 1st. BMO Capital Markets restated a “buy” rating and set a $97.00 target price on shares of Grand Canyon Education in a research note on Wednesday, October 25th. Robert W. Baird lifted their target price on shares of Grand Canyon Education from $85.00 to $95.00 and gave the company an “outperform” rating in a research note on Thursday. Finally, Zacks Investment Research upgraded shares of Grand Canyon Education from a “hold” rating to a “buy” rating and set a $90.00 target price on the stock in a research note on Thursday, August 3rd. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $95.40.
In related news, COO William Stan Meyer sold 1,315 shares of the firm’s stock in a transaction on Thursday, August 10th. The shares were sold at an average price of $80.35, for a total transaction of $105,660.25. Following the sale, the chief operating officer now owns 99,774 shares in the company, valued at $8,016,840.90. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Joseph N. Mildenhall sold 5,000 shares of the firm’s stock in a transaction on Wednesday, August 9th. The shares were sold at an average price of $80.17, for a total transaction of $400,850.00. Following the sale, the insider now owns 88,798 shares in the company, valued at approximately $7,118,935.66. The disclosure for this sale can be found here. 3.00% of the stock is currently owned by company insiders.
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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