Grand Canyon Education, Inc. (NASDAQ:LOPE) Issues Q3 Earnings Guidance

Grand Canyon Education, Inc. (NASDAQ:LOPE) updated its third quarter earnings guidance on Tuesday. The company provided earnings per share guidance of $0.75 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.74. The company issued revenue guidance of $231.0 million, compared to the consensus revenue estimate of $229.25 million.Grand Canyon Education also updated its Q4 guidance to $1.08 EPS.

Several research firms have recently issued reports on LOPE. Barrington Research restated an outperform rating and issued a $89.00 target price (up previously from $85.00) on shares of Grand Canyon Education in a report on Wednesday, August 2nd. BidaskClub lowered shares of Grand Canyon Education from a hold rating to a sell rating in a report on Tuesday, August 1st. Finally, Zacks Investment Research upgraded shares of Grand Canyon Education from a hold rating to a buy rating and set a $90.00 price objective for the company in a report on Thursday, August 3rd. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Grand Canyon Education has a consensus rating of Buy and an average target price of $78.50.

Shares of Grand Canyon Education, Inc. (LOPE) traded up 0.82% on Friday, hitting $80.01. 410,061 shares of the stock were exchanged. The stock has a market cap of $3.78 billion, a PE ratio of 22.08 and a beta of 1.48. Grand Canyon Education, Inc. has a 52-week low of $39.07 and a 52-week high of $85.94. The company’s 50 day moving average is $77.90 and its 200-day moving average is $72.93.

Grand Canyon Education (NASDAQ:LOPE) last issued its quarterly earnings data on Tuesday, August 1st. The company reported $0.83 EPS for the quarter, topping the Zacks’ consensus estimate of $0.68 by $0.15. The firm had revenue of $218.30 million during the quarter, compared to the consensus estimate of $213.08 million. Grand Canyon Education had a return on equity of 21.77% and a net margin of 18.77%. The firm’s revenue was up 14.1% on a year-over-year basis. During the same period in the prior year, the business earned $0.59 EPS. Analysts predict that Grand Canyon Education, Inc. will post $3.83 EPS for the current fiscal year.

In other news, COO William Stan Meyer sold 1,315 shares of the stock in a transaction on Thursday, August 10th. The stock was sold at an average price of $80.35, for a total value of $105,660.25. Following the completion of the transaction, the chief operating officer now owns 99,774 shares of the company’s stock, valued at $8,016,840.90. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Brian E. Mueller sold 30,000 shares of the stock in a transaction on Monday, June 12th. The stock was 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 directly 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. Over the last 90 days, insiders have sold 130,231 shares of company stock valued at $10,207,539. 3.00% of the stock is owned by company insiders.

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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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