Stride (NYSE:LRN) Releases Earnings Results, Beats Estimates By $0.12 EPS

Stride (NYSE:LRNGet Rating) posted its earnings results on Tuesday. The company reported $1.19 earnings per share for the quarter, beating analysts’ consensus estimates of $1.07 by $0.12, Briefing.com reports. The company had revenue of $458.44 million for the quarter, compared to the consensus estimate of $443.23 million. Stride had a return on equity of 11.60% and a net margin of 5.28%. Stride’s revenue was up 11.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.00 earnings per share. Stride updated its FY 2023 guidance to EPS and its Q3 2023 guidance to EPS.

Stride Price Performance

LRN stock traded up $6.79 during midday trading on Wednesday, reaching $38.79. The company had a trading volume of 920,744 shares, compared to its average volume of 510,534. Stride has a 1-year low of $30.66 and a 1-year high of $47.35. The company has a debt-to-equity ratio of 0.57, a current ratio of 3.22 and a quick ratio of 3.12. The company has a market capitalization of $1.67 billion, a price-to-earnings ratio of 19.24, a price-to-earnings-growth ratio of 0.76 and a beta of 0.30. The stock has a 50 day moving average price of $33.18 and a 200-day moving average price of $37.63.

Analysts Set New Price Targets

Several brokerages recently weighed in on LRN. BMO Capital Markets cut their price target on Stride from $52.00 to $50.00 and set an “outperform” rating for the company in a research note on Thursday, October 27th. StockNews.com lowered shares of Stride from a “buy” rating to a “hold” rating in a research report on Thursday, October 27th. Finally, Morgan Stanley dropped their price target on shares of Stride from $43.00 to $41.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 4th.

Institutional Trading of Stride

Several large investors have recently modified their holdings of the stock. Advisor Group Holdings Inc. increased its holdings in Stride by 40.5% in the 1st quarter. Advisor Group Holdings Inc. now owns 2,050 shares of the company’s stock worth $120,000 after acquiring an additional 591 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of Stride by 26.2% during the first quarter. JPMorgan Chase & Co. now owns 228,997 shares of the company’s stock valued at $8,321,000 after buying an additional 47,583 shares during the last quarter. Raymond James & Associates boosted its stake in shares of Stride by 9.2% during the first quarter. Raymond James & Associates now owns 9,637 shares of the company’s stock valued at $350,000 after purchasing an additional 814 shares during the period. PNC Financial Services Group Inc. raised its holdings in Stride by 14.8% in the first quarter. PNC Financial Services Group Inc. now owns 5,445 shares of the company’s stock worth $198,000 after purchasing an additional 700 shares in the last quarter. Finally, MetLife Investment Management LLC boosted its position in Stride by 52.5% in the first quarter. MetLife Investment Management LLC now owns 23,353 shares of the company’s stock valued at $848,000 after buying an additional 8,035 shares during the last quarter. Institutional investors and hedge funds own 92.34% of the company’s stock.

Stride Company Profile

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Stride, Inc, a technology-based education service company, provides proprietary and third-party online curriculum, software systems, and educational services to facilitate individualized learning for students primarily in kindergarten through 12th grade (K-12) in the United States and internationally.

See Also

Earnings History for Stride (NYSE:LRN)

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