Wall Street analysts forecast that Grand Canyon Education, Inc. (NASDAQ:LOPE) will report $231.16 million in sales for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for Grand Canyon Education’s earnings, with the highest sales estimate coming in at $231.31 million and the lowest estimate coming in at $231.00 million. Grand Canyon Education reported sales of $210.44 million in the same quarter last year, which indicates a positive year-over-year growth rate of 9.8%. The business is expected to issue its next quarterly earnings results after the market closes on Wednesday, November 1st.
On average, analysts expect that Grand Canyon Education will report full year sales of $231.16 million for the current fiscal year, with estimates ranging from $964.41 million to $965.89 million. For the next year, analysts forecast that the business will post sales of $1.04 billion per share. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that cover Grand Canyon Education.
Grand Canyon Education (NASDAQ:LOPE) last announced its quarterly earnings results on Tuesday, August 1st. The company reported $0.83 EPS for the quarter, beating the Zacks’ consensus estimate of $0.68 by $0.15. Grand Canyon Education had a net margin of 18.77% and a return on equity of 21.77%. The firm had revenue of $218.30 million during the quarter, compared to the consensus estimate of $213.08 million. During the same quarter last year, the firm earned $0.59 EPS. The firm’s revenue for the quarter was up 14.1% compared to the same quarter last year.
Several analysts have recently weighed in on the stock. Piper Jaffray Companies increased their price target on shares of Grand Canyon Education from $83.00 to $92.00 and gave the company an “overweight” rating in a research note on Wednesday, October 11th. Zacks Investment Research cut shares of Grand Canyon Education from a “buy” rating to a “hold” rating in a research note on Wednesday, October 4th. ValuEngine cut shares of Grand Canyon Education from a “buy” rating to a “hold” rating in a research note on Monday, October 2nd. BMO Capital Markets reissued a “buy” rating and issued a $85.00 price target on shares of Grand Canyon Education in a research note on Monday, September 18th. Finally, Barrington Research reissued an “outperform” rating and issued a $89.00 price target (up previously from $85.00) on shares of Grand Canyon Education in a research note on Tuesday, August 8th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $89.00.
In other news, COO William Stan Meyer sold 1,315 shares of the company’s stock in a transaction that occurred on Thursday, August 10th. The shares were sold at an average price of $80.35, for a total value of $105,660.25. Following the transaction, the chief operating officer now directly owns 99,774 shares in the company, valued at approximately $8,016,840.90. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Joseph N. Mildenhall sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 9th. The stock was sold at an average price of $80.17, for a total transaction of $400,850.00. Following the completion of the transaction, the insider now owns 88,798 shares in the company, valued at $7,118,935.66. The disclosure for this sale can be found here. Corporate insiders own 3.00% of the company’s stock.
Hedge funds have recently modified their holdings of the company. Chicago Equity Partners LLC acquired a new position in shares of Grand Canyon Education in the 2nd quarter worth approximately $2,364,000. Acadian Asset Management LLC lifted its holdings in shares of Grand Canyon Education by 49.3% in the 2nd quarter. Acadian Asset Management LLC now owns 115,520 shares of the company’s stock worth $9,059,000 after acquiring an additional 38,148 shares during the last quarter. Prudential Financial Inc. lifted its holdings in shares of Grand Canyon Education by 34.0% in the 2nd quarter. Prudential Financial Inc. now owns 207,253 shares of the company’s stock worth $16,251,000 after acquiring an additional 52,560 shares during the last quarter. Robeco Institutional Asset Management B.V. acquired a new position in shares of Grand Canyon Education in the 2nd quarter worth approximately $2,970,000. Finally, First Trust Advisors LP lifted its holdings in shares of Grand Canyon Education by 13.2% in the 2nd quarter. First Trust Advisors LP now owns 47,610 shares of the company’s stock worth $3,733,000 after acquiring an additional 5,544 shares during the last quarter. Hedge funds and other institutional investors own 96.57% of the company’s stock.
Shares of Grand Canyon Education (NASDAQ:LOPE) traded up 0.18% on Tuesday, hitting $89.02. 110,560 shares of the company were exchanged. The stock has a market capitalization of $4.21 billion, a PE ratio of 24.57 and a beta of 1.39. The firm’s 50-day moving average is $85.87 and its 200-day moving average is $79.42. Grand Canyon Education has a 52-week low of $40.89 and a 52-week high of $93.08.
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About Grand Canyon Education
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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