Equities analysts predict that Grand Canyon Education, Inc. (NASDAQ:LOPE) will announce $213.00 million in sales for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for Grand Canyon Education’s earnings. The highest sales estimate is $213.30 million and the lowest is $212.70 million. Grand Canyon Education reported sales of $191.28 million during the same quarter last year, which would indicate a positive year over year growth rate of 11.4%. The company is expected to issue its next earnings results on Thursday, August 3rd.
According to Zacks, analysts expect that Grand Canyon Education will report full-year sales of $213.00 million for the current financial year, with estimates ranging from $955.81 million to $958.21 million. For the next financial year, analysts expect that the firm will report sales of $1.04 billion per share. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover Grand Canyon Education.
Grand Canyon Education (NASDAQ:LOPE) last released its quarterly earnings data on Thursday, May 4th. The company reported $1.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.01 by $0.11. The business had revenue of $248.20 million for the quarter, compared to analysts’ expectations of $244.64 million. Grand Canyon Education had a return on equity of 21.53% and a net margin of 17.97%. The firm’s quarterly revenue was up 9.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.92 EPS.
Several equities analysts have issued reports on LOPE shares. Piper Jaffray Companies reaffirmed an “overweight” rating and issued a $73.00 price target (up from $69.00) on shares of Grand Canyon Education in a report on Monday, March 20th. Zacks Investment Research lowered shares of Grand Canyon Education from a “buy” rating to a “hold” rating in a report on Saturday, June 3rd. Barrington Research lifted their price target on shares of Grand Canyon Education from $68.00 to $85.00 and gave the stock an “outperform” rating in a report on Monday, May 15th. ValuEngine raised shares of Grand Canyon Education from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. Finally, BidaskClub lowered shares of Grand Canyon Education from a “strong-buy” rating to a “buy” rating in a report on Tuesday, June 27th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $77.75.
Grand Canyon Education (LOPE) traded down 1.36% during trading on Thursday, reaching $76.98. The company had a trading volume of 157,702 shares. Grand Canyon Education has a 12-month low of $39.07 and a 12-month high of $83.00. The stock has a 50 day moving average of $78.80 and a 200-day moving average of $68.24. The stock has a market capitalization of $3.62 billion, a P/E ratio of 22.73 and a beta of 1.49.
In other news, CEO Brian E. Mueller sold 30,000 shares of Grand Canyon Education stock in a transaction on Wednesday, May 10th. The shares were sold at an average price of $78.22, for a total transaction of $2,346,600.00. Following the completion of the sale, the chief executive officer now directly owns 312,794 shares in the company, valued at $24,466,746.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Joseph N. Mildenhall sold 6,345 shares of Grand Canyon Education stock in a transaction on Tuesday, May 9th. The stock was sold at an average price of $79.65, for a total transaction of $505,379.25. Following the sale, the insider now owns 96,728 shares of the company’s stock, valued at $7,704,385.20. The disclosure for this sale can be found here. Insiders have sold 197,461 shares of company stock valued at $15,462,932 over the last quarter. Insiders own 3.00% of the company’s stock.
Several large investors have recently bought and sold shares of the company. Russell Investments Group Ltd. bought a new stake in Grand Canyon Education during the fourth quarter valued at approximately $2,250,000. State Street Corp increased its position in Grand Canyon Education by 1.0% in the fourth quarter. State Street Corp now owns 822,561 shares of the company’s stock worth $48,079,000 after buying an additional 8,431 shares in the last quarter. Allianz Asset Management AG increased its position in Grand Canyon Education by 5.8% in the fourth quarter. Allianz Asset Management AG now owns 26,403 shares of the company’s stock worth $1,543,000 after buying an additional 1,449 shares in the last quarter. AQR Capital Management LLC increased its position in Grand Canyon Education by 51.2% in the fourth quarter. AQR Capital Management LLC now owns 24,460 shares of the company’s stock worth $1,430,000 after buying an additional 8,286 shares in the last quarter. Finally, Numeric Investors LLC acquired a new position in Grand Canyon Education during the fourth quarter worth about $251,000. Institutional investors and hedge funds own 97.59% of the company’s stock.
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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