$175.27 Million in Sales Expected for Grand Canyon Education Inc (LOPE) This Quarter

Wall Street brokerages expect Grand Canyon Education Inc (NASDAQ:LOPE) to announce $175.27 million in sales for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for Grand Canyon Education’s earnings, with estimates ranging from $175.00 million to $175.41 million. Grand Canyon Education posted sales of $271.42 million in the same quarter last year, which suggests a negative year-over-year growth rate of 35.4%. The company is expected to issue its next quarterly earnings report on Wednesday, February 20th.

According to Zacks, analysts expect that Grand Canyon Education will report full-year sales of $843.24 million for the current financial year, with estimates ranging from $842.95 million to $843.40 million. For the next year, analysts expect that the company will report sales of $690.81 million, with estimates ranging from $689.73 million to $692.70 million. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that that provide coverage for Grand Canyon Education.

Grand Canyon Education (NASDAQ:LOPE) last announced its quarterly earnings results on Thursday, November 8th. The company reported $1.06 earnings per share for the quarter, beating analysts’ consensus estimates of $0.99 by $0.07. Grand Canyon Education had a net margin of 23.60% and a return on equity of 21.66%. The business had revenue of $155.45 million during the quarter, compared to analysts’ expectations of $153.31 million. During the same period last year, the business earned $0.81 earnings per share. The business’s revenue for the quarter was down 34.2% on a year-over-year basis.

Several research firms have recently commented on LOPE. Zacks Investment Research lowered shares of Grand Canyon Education from a “buy” rating to a “hold” rating in a research note on Wednesday. Robert W. Baird raised their price objective on shares of Grand Canyon Education from $125.00 to $141.00 and gave the company an “outperform” rating in a research note on Friday, November 9th. Barrington Research raised their price objective on shares of Grand Canyon Education from $135.00 to $150.00 and gave the company an “outperform” rating in a research note on Friday, November 9th. Finally, BidaskClub raised shares of Grand Canyon Education from a “buy” rating to a “strong-buy” rating in a research note on Thursday, October 18th. One investment analyst has rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. Grand Canyon Education currently has an average rating of “Buy” and a consensus price target of $141.40.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Guggenheim Capital LLC lifted its stake in Grand Canyon Education by 3.9% in the first quarter. Guggenheim Capital LLC now owns 22,736 shares of the company’s stock worth $2,385,000 after acquiring an additional 856 shares during the last quarter. State of Alaska Department of Revenue purchased a new position in Grand Canyon Education in the second quarter worth approximately $639,000. Bank of Montreal Can lifted its stake in Grand Canyon Education by 256.1% in the second quarter. Bank of Montreal Can now owns 20,502 shares of the company’s stock worth $2,287,000 after acquiring an additional 14,744 shares during the last quarter. V Wealth Management LLC purchased a new position in Grand Canyon Education in the second quarter worth approximately $219,000. Finally, Assenagon Asset Management S.A. lifted its stake in Grand Canyon Education by 239.3% in the second quarter. Assenagon Asset Management S.A. now owns 187,508 shares of the company’s stock worth $20,928,000 after acquiring an additional 132,242 shares during the last quarter. 94.62% of the stock is owned by institutional investors and hedge funds.

Shares of NASDAQ LOPE traded down $2.14 during midday trading on Friday, hitting $123.86. The company’s stock had a trading volume of 283,071 shares, compared to its average volume of 436,106. The company has a debt-to-equity ratio of 0.05, a quick ratio of 4.65 and a current ratio of 4.65. Grand Canyon Education has a 1 year low of $85.14 and a 1 year high of $130.10. The firm has a market cap of $6.11 billion, a price-to-earnings ratio of 31.28, a PEG ratio of 1.63 and a beta of 0.79.

Grand Canyon Education Company Profile

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.

Read More: What Factors Can Affect Return on Equity?

Get a free copy of the Zacks research report on Grand Canyon Education (LOPE)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Grand Canyon Education (NASDAQ:LOPE)

Receive News & Ratings for Grand Canyon Education Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Grand Canyon Education and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply