Grand Canyon Education (NASDAQ: LOPE) updated its fourth-quarter 2022 earnings guidance on Thursday morning. In contrast to the consensus estimate of $2.16, the company issued $2.18–2.19 EPS guidance for the period. The company issued revenue guidance of $255.50 million to $265.50 million, compared to the consensus revenue estimate of $253.94 million. In addition, Grand Canyon Education increased its fiscal year 2022 earnings per share forecast to $5.61 to $5.62 per share.
Grand Canyon Education (NASDAQ: LOPE) released its most recent quarterly earnings report on August 4 and August 4. The company earned $0.85 per share during the quarter, which was $0.01 higher than the consensus estimate of $0.84. Grand Canyon Education had a 21.99% net margin and a 27.54% return on equity. Revenue for the quarter was $199.80 million, compared to the consensus estimate of $201.07 million. During the same period the previous year, the company earned $1.12 per share. The company’s revenue was down 8% from last year’s quarter. According to sell-side analysts, Grand Canyon Education will earn 5.85 cents per share in the current fiscal year.
Several research analysts have recently expressed interest in LOPE stock. TheStreet downgraded Grand Canyon Education from a b- to a c+ rating in a research note published on Tuesday, August 23. StockNews.com upgraded Grand Canyon Education from a hold to a buy rating in a research note issued on Friday, October 28.
The NASDAQ LOPE opened at $100.69 on Thursday. The 50-day moving average for the company is $84.25, and the 200-day moving average is $88.65. Grand Canyon Education has a one-year low of $70.00 and a one-year high of $104.14. The company has a market cap of $3.14 billion, a P/E ratio of 18.08, a P/E/G ratio of 1.19, and a beta of 0.53.
Hedge funds and other institutional investors have recently expressed interest in LOPE. HighTower Advisors LLC increased its stake in Grand Canyon Education by 38.2% during the first quarter. HighTower Advisors LLC now owns 13,507 shares of the company’s stock, valued at $1,307,000, after purchasing an additional 3,737 shares. PNC Financial Services Group Inc. increased its stake in Grand Canyon Education by 16.4% during the first quarter. PNC Financial Services Group Inc. now owns 8,384 shares of the company’s stock, valued at $813,00, after purchasing an additional 1,184 shares. Bank of Montreal Capital increased its stake in Grand Canyon Education by 57.8% during the first quarter. Bank of Montreal now owns 9,697 shares of the company’s stock, valued at $948,000, after purchasing an additional 3,553 shares. During the first quarter, Acadian Asset Management LLC purchased a new $686,00 position in Grand Canyon Education. Finally, MetLife Investment Management LLC increased its stake in Grand Canyon Education by 32.0% in the first quarter. MetLife Investment Management LLC now owns 25,625 shares of the company’s stock, valued at $2,488,000, after buying 6,205 more. Institutional investors and hedge funds own 94.51% of the stock.
Grand Canyon Education, Inc. provides educational services to colleges and universities throughout the United States. Among the company’s technology services are learning management systems, internal administration, infrastructure, and support services; academic services include program and curriculum, faculty and related training and development, class scheduling, and skills and simulation lab sites; and counseling services include admission, financial aid, field experience, and other counseling services.
Source: news.google.com
