Barrington Research Weighs in on Grand Canyon Education, Inc.’s FY2024 Earnings (NASDAQ:LOPE)

Grand Canyon Education, Inc. (NASDAQ:LOPE) – Equities research analysts at Barrington Research lifted their FY2024 earnings estimates for shares of Grand Canyon Education in a report released on Wednesday, May 8th. Barrington Research analyst A. Paris now anticipates that the company will post earnings per share of $7.80 for the year, up from their prior estimate of $7.65. Barrington Research currently has a “Outperform” rating and a $165.00 target price on the stock. The consensus estimate for Grand Canyon Education’s current full-year earnings is $7.65 per share. Barrington Research also issued estimates for Grand Canyon Education’s Q4 2024 earnings at $2.95 EPS and FY2025 earnings at $8.60 EPS.

Grand Canyon Education (NASDAQ:LOPE) last released its quarterly earnings results on Tuesday, May 7th. The company reported $2.35 earnings per share for the quarter, topping the consensus estimate of $2.22 by $0.13. Grand Canyon Education had a return on equity of 31.75% and a net margin of 21.33%. The company had revenue of $274.68 million for the quarter, compared to analysts’ expectations of $272.42 million. During the same period in the previous year, the business posted $2.00 earnings per share. The business’s quarterly revenue was up 9.8% compared to the same quarter last year.

A number of other brokerages have also commented on LOPE. Robert W. Baird lifted their price target on shares of Grand Canyon Education from $165.00 to $170.00 and gave the stock an “outperform” rating in a report on Wednesday. BMO Capital Markets increased their price target on Grand Canyon Education from $150.00 to $155.00 and gave the company an “outperform” rating in a research note on Wednesday.

Grand Canyon Education Price Performance

LOPE opened at $147.08 on Thursday. Grand Canyon Education has a fifty-two week low of $99.65 and a fifty-two week high of $156.56. The company’s 50 day moving average price is $133.28 and its two-hundred day moving average price is $132.36. The firm has a market capitalization of $4.38 billion, a price-to-earnings ratio of 21.63, a PEG ratio of 1.19 and a beta of 0.60.

Insider Buying and Selling

In related news, CTO Dilek Marsh sold 1,500 shares of the firm’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $132.65, for a total transaction of $198,975.00. Following the completion of the sale, the chief technology officer now owns 25,674 shares of the company’s stock, valued at $3,405,656.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.00% of the stock is owned by insiders.

Institutional Investors Weigh In On Grand Canyon Education

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Burgundy Asset Management Ltd. grew its stake in shares of Grand Canyon Education by 2.8% in the 3rd quarter. Burgundy Asset Management Ltd. now owns 984,511 shares of the company’s stock valued at $115,070,000 after buying an additional 26,647 shares during the period. Van Berkom & Associates Inc. increased its holdings in shares of Grand Canyon Education by 11.9% during the third quarter. Van Berkom & Associates Inc. now owns 871,871 shares of the company’s stock valued at $101,904,000 after acquiring an additional 92,445 shares in the last quarter. Wasatch Advisors LP raised its position in shares of Grand Canyon Education by 9.4% during the first quarter. Wasatch Advisors LP now owns 463,083 shares of the company’s stock worth $63,077,000 after purchasing an additional 39,743 shares during the period. Los Angeles Capital Management LLC lifted its holdings in shares of Grand Canyon Education by 11.2% in the 1st quarter. Los Angeles Capital Management LLC now owns 456,839 shares of the company’s stock worth $62,226,000 after purchasing an additional 46,024 shares in the last quarter. Finally, William Blair Investment Management LLC grew its position in Grand Canyon Education by 15.9% in the 3rd quarter. William Blair Investment Management LLC now owns 429,848 shares of the company’s stock valued at $50,241,000 after purchasing an additional 59,089 shares during the period. 94.17% of the stock is owned by institutional investors.

About Grand Canyon Education

Grand Canyon Education, Inc provides education services to colleges and universities in the United States. It offers technology services, including learning management system, internal administration, infrastructure, and support services; academic services, such as program and curriculum, faculty and related training and development, class scheduling, and skills and simulation lab sites; and counseling services and support services comprising admission, financial aid, and field experience and other counseling services.