Grand Canyon Education (NASDAQ:LOPE) Releases Quarterly Earnings Results, Beats Expectations By $0.01 EPS

Grand Canyon Education (NASDAQ:LOPEGet Rating) posted its quarterly earnings results on Thursday. The company reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.84 by $0.01, Briefing.com reports. Grand Canyon Education had a net margin of 26.59% and a return on equity of 20.81%. The company had revenue of $199.80 million for the quarter, compared to analyst estimates of $201.07 million. During the same quarter in the previous year, the firm posted $1.12 earnings per share. The company’s quarterly revenue was down .8% compared to the same quarter last year.

Grand Canyon Education Price Performance

LOPE stock traded down $10.19 during midday trading on Friday, reaching $84.67. The company had a trading volume of 897,817 shares, compared to its average volume of 370,517. Grand Canyon Education has a 1 year low of $70.00 and a 1 year high of $102.04. The company has a market capitalization of $2.74 billion, a P/E ratio of 14.16, a P/E/G ratio of 1.10 and a beta of 0.43. The firm has a 50-day moving average price of $91.24 and a 200-day moving average price of $91.10.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. StockNews.com cut shares of Grand Canyon Education from a “buy” rating to a “hold” rating in a research note on Wednesday, May 11th. Barrington Research boosted their price objective on shares of Grand Canyon Education from $100.00 to $110.00 in a research note on Thursday, May 5th. Finally, Robert W. Baird boosted their price objective on shares of Grand Canyon Education from $95.00 to $111.00 in a research note on Thursday, May 5th.

Insiders Place Their Bets

In other Grand Canyon Education news, CAO Lori Browning sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 7th. The shares were sold at an average price of $90.37, for a total value of $90,370.00. Following the completion of the transaction, the chief accounting officer now owns 15,369 shares of the company’s stock, valued at approximately $1,388,896.53. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 1.80% of the company’s stock.

Institutional Investors Weigh In On Grand Canyon Education

A number of institutional investors have recently made changes to their positions in the business. BlackRock Inc. boosted its stake in shares of Grand Canyon Education by 1.3% in the 1st quarter. BlackRock Inc. now owns 3,374,021 shares of the company’s stock valued at $327,650,000 after purchasing an additional 43,876 shares in the last quarter. State Street Corp boosted its stake in shares of Grand Canyon Education by 3.9% in the 1st quarter. State Street Corp now owns 1,090,321 shares of the company’s stock valued at $105,881,000 after purchasing an additional 41,102 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Grand Canyon Education by 6.3% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 326,275 shares of the company’s stock valued at $31,685,000 after purchasing an additional 19,451 shares in the last quarter. First Trust Advisors LP boosted its stake in shares of Grand Canyon Education by 0.5% in the 1st quarter. First Trust Advisors LP now owns 286,392 shares of the company’s stock valued at $27,811,000 after purchasing an additional 1,422 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its stake in shares of Grand Canyon Education by 51.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 199,198 shares of the company’s stock valued at $19,344,000 after purchasing an additional 67,955 shares in the last quarter. Hedge funds and other institutional investors own 91.04% of the company’s stock.

About Grand Canyon Education

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Grand Canyon Education, Inc provides education services to colleges and universities in the United States. The company's technology services include learning management system, internal administration, infrastructure, and support services; academic services comprises program and curriculum, faculty and related training and development, class scheduling, and skills and simulation lab sites; and counseling services and support include admission, financial aid, and field experience and other counseling services.

See Also

Earnings History for Grand Canyon Education (NASDAQ:LOPE)

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