Grand Canyon Education (NASDAQ:LOPE) issued its earnings results on Thursday. The company reported $1.06 EPS for the quarter, topping analysts’ consensus estimates of $0.99 by $0.07, Briefing.com reports. The company had revenue of $155.45 million for the quarter, compared to analysts’ expectations of $153.31 million. Grand Canyon Education had a net margin of 22.28% and a return on equity of 21.38%. The firm’s revenue was down 34.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.81 EPS.
Shares of LOPE stock traded down $0.88 during mid-day trading on Friday, reaching $128.47. The stock had a trading volume of 1,719,215 shares, compared to its average volume of 327,066. Grand Canyon Education has a 52-week low of $85.14 and a 52-week high of $130.10. The stock has a market capitalization of $6.25 billion, a price-to-earnings ratio of 32.44, a PEG ratio of 1.66 and a beta of 0.79. The company has a current ratio of 5.73, a quick ratio of 5.73 and a debt-to-equity ratio of 0.05.
A number of brokerages recently commented on LOPE. Barrington Research reiterated a “buy” rating and issued a $135.00 target price on shares of Grand Canyon Education in a research report on Friday, August 10th. Robert W. Baird lifted their target price on shares of Grand Canyon Education from $122.00 to $125.00 and gave the stock an “outperform” rating in a research report on Thursday, August 9th. BMO Capital Markets lifted their target price on shares of Grand Canyon Education from $123.00 to $130.00 and gave the stock an “outperform” rating in a research report on Thursday, August 9th. BidaskClub cut shares of Grand Canyon Education from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 30th. Finally, Zacks Investment Research upgraded shares of Grand Canyon Education from a “hold” rating to a “buy” rating and set a $134.00 target price on the stock in a research report on Thursday, September 6th. One analyst has rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. Grand Canyon Education presently has a consensus rating of “Buy” and a consensus price target of $139.40.
Hedge funds have recently added to or reduced their stakes in the business. Tower Research Capital LLC TRC purchased a new position in shares of Grand Canyon Education in the second quarter valued at about $118,000. CIBC Asset Management Inc purchased a new position in shares of Grand Canyon Education in the third quarter valued at about $200,000. We Are One Seven LLC purchased a new position in shares of Grand Canyon Education in the third quarter valued at about $202,000. HRT Financial LLC purchased a new position in shares of Grand Canyon Education in the second quarter valued at about $213,000. Finally, V Wealth Management LLC purchased a new position in shares of Grand Canyon Education in the second quarter valued at about $219,000. Hedge funds and other institutional investors own 93.94% of the company’s stock.
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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.
Further Reading: Hedge Funds Explained
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