Zacks: Analysts Expect Grand Canyon Education Inc (LOPE) Will Post Quarterly Sales of $153.35 Million

Brokerages predict that Grand Canyon Education Inc (NASDAQ:LOPE) will post $153.35 million in sales for the current quarter, Zacks reports. Three analysts have issued estimates for Grand Canyon Education’s earnings. The lowest sales estimate is $153.00 million and the highest is $153.55 million. Grand Canyon Education reported sales of $236.21 million in the same quarter last year, which indicates a negative year over year growth rate of 35.1%. The company is scheduled to report its next quarterly earnings report on Wednesday, November 7th.

According to Zacks, analysts expect that Grand Canyon Education will report full-year sales of $841.02 million for the current financial year, with estimates ranging from $840.50 million to $841.30 million. For the next financial year, analysts forecast that the firm will report sales of $689.83 million, with estimates ranging from $688.00 million to $692.20 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Grand Canyon Education.

Grand Canyon Education (NASDAQ:LOPE) last issued its quarterly earnings data on Wednesday, August 8th. The company reported $0.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.85 by $0.10. The business had revenue of $236.82 million during the quarter, compared to analyst estimates of $235.13 million. Grand Canyon Education had a net margin of 22.28% and a return on equity of 21.38%. The firm’s quarterly revenue was up 8.5% on a year-over-year basis. During the same quarter last year, the business earned $0.83 EPS.

LOPE has been the subject of several analyst reports. Piper Jaffray Companies raised their price target on shares of Grand Canyon Education from $117.00 to $142.00 and gave the stock an “overweight” rating in a report on Tuesday, July 3rd. They noted that the move was a valuation call. Barrington Research restated a “buy” rating and set a $135.00 price target on shares of Grand Canyon Education in a report on Friday, August 10th. BidaskClub upgraded shares of Grand Canyon Education from a “buy” rating to a “strong-buy” rating in a report on Friday, August 17th. Zacks Investment Research lowered shares of Grand Canyon Education from a “buy” rating to a “hold” rating in a report on Wednesday, July 4th. Finally, Robert W. Baird raised their price target on shares of Grand Canyon Education from $122.00 to $125.00 and gave the stock an “outperform” rating in a report on Thursday, August 9th. One analyst has rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Grand Canyon Education currently has a consensus rating of “Buy” and an average target price of $133.20.

Grand Canyon Education stock traded up $1.20 during mid-day trading on Wednesday, hitting $122.25. 273,920 shares of the stock were exchanged, compared to its average volume of 359,246. The company has a debt-to-equity ratio of 0.05, a quick ratio of 5.73 and a current ratio of 5.73. Grand Canyon Education has a 12 month low of $83.52 and a 12 month high of $123.86. The firm has a market cap of $5.84 billion, a price-to-earnings ratio of 30.87, a PEG ratio of 1.55 and a beta of 1.15.

A number of institutional investors have recently added to or reduced their stakes in the business. Handelsbanken Fonder AB raised its holdings in Grand Canyon Education by 2.2% during the 3rd quarter. Handelsbanken Fonder AB now owns 1,215,290 shares of the company’s stock worth $137,085,000 after purchasing an additional 26,000 shares during the last quarter. Conestoga Capital Advisors LLC grew its position in shares of Grand Canyon Education by 4.6% during the 2nd quarter. Conestoga Capital Advisors LLC now owns 667,172 shares of the company’s stock worth $74,463,000 after buying an additional 29,197 shares during the period. Bank of New York Mellon Corp grew its position in shares of Grand Canyon Education by 4.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 550,261 shares of the company’s stock worth $61,415,000 after buying an additional 25,931 shares during the period. Millennium Management LLC grew its position in shares of Grand Canyon Education by 150.2% during the 2nd quarter. Millennium Management LLC now owns 471,913 shares of the company’s stock worth $52,670,000 after buying an additional 283,325 shares during the period. Finally, Waddell & Reed Financial Inc. acquired a new stake in shares of Grand Canyon Education during the 2nd quarter worth approximately $51,907,000. Hedge funds and other institutional investors own 93.96% of the company’s stock.

About Grand Canyon Education

Grand Canyon Education, Inc, together with its subsidiaries, provides education services in the United States and Canada. The company operates Grand Canyon University that offers approximately 225 graduate and undergraduate degree programs and certificates across 9 colleges online and on ground through campus in Phoenix, Arizona; leased facilities; and facilities owned by third party employers.

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