Grand Canyon Education (NASDAQ:LOPE) released its earnings results on Thursday. The company reported $1.06 earnings per share for the quarter, topping analysts’ consensus estimates of $0.99 by $0.07, Briefing.com reports. The company had revenue of $155.45 million during the quarter, compared to the consensus estimate of $153.31 million. Grand Canyon Education had a return on equity of 21.38% and a net margin of 22.28%. The firm’s quarterly revenue was down 34.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.81 earnings per share.
Shares of Grand Canyon Education stock traded down $0.88 during trading on Friday, reaching $128.47. 1,719,215 shares of the company were exchanged, compared to its average volume of 327,066. The company has a quick ratio of 5.73, a current ratio of 5.73 and a debt-to-equity ratio of 0.05. Grand Canyon Education has a twelve month low of $85.14 and a twelve month high of $130.10. The stock has a market cap of $6.25 billion, a PE ratio of 32.44, a price-to-earnings-growth ratio of 1.66 and a beta of 0.79.
Several institutional investors have recently made changes to their positions in the stock. Trexquant Investment LP grew its stake in shares of Grand Canyon Education by 28.9% during the third quarter. Trexquant Investment LP now owns 12,965 shares of the company’s stock worth $1,462,000 after purchasing an additional 2,903 shares during the period. FIL Ltd grew its stake in shares of Grand Canyon Education by 2.0% during the third quarter. FIL Ltd now owns 1,929,082 shares of the company’s stock worth $217,600,000 after purchasing an additional 38,139 shares during the period. Fosun International Ltd acquired a new stake in shares of Grand Canyon Education during the third quarter worth $277,000. Janus Henderson Group PLC grew its stake in shares of Grand Canyon Education by 42.8% during the third quarter. Janus Henderson Group PLC now owns 295,889 shares of the company’s stock worth $33,376,000 after purchasing an additional 88,622 shares during the period. Finally, Artemis Investment Management LLP grew its stake in shares of Grand Canyon Education by 55.5% during the third quarter. Artemis Investment Management LLP now owns 171,449 shares of the company’s stock worth $19,340,000 after purchasing an additional 61,166 shares during the period. 93.94% of the stock is owned by institutional investors and hedge funds.
A number of equities research analysts have recently weighed in on LOPE shares. Barrington Research restated a “buy” rating and set a $135.00 target price on shares of Grand Canyon Education in a research report on Friday, August 10th. BidaskClub upgraded Grand Canyon Education from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 17th. Zacks Investment Research upgraded Grand Canyon Education from a “hold” rating to a “buy” rating and set a $134.00 target price for the company in a research report on Thursday, September 6th. Finally, Robert W. Baird boosted their target price on Grand Canyon Education from $122.00 to $125.00 and gave the stock an “outperform” rating in a research report on Thursday, August 9th. One analyst has rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $139.40.
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Grand Canyon Education Company Profile
Grand Canyon Education, Inc, together with its subsidiaries, provides education services in the United States and Canada. The company operates Grand Canyon University that offers approximately 225 graduate and undergraduate degree programs and certificates across 9 colleges online and on ground through campus in Phoenix, Arizona; leased facilities; and facilities owned by third party employers.
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