Grand Canyon Education Inc (LOPE) Expected to Announce Quarterly Sales of $153.35 Million

Equities analysts predict that Grand Canyon Education Inc (NASDAQ:LOPE) will announce sales of $153.35 million for the current fiscal quarter, according to Zacks. Three analysts have made estimates for Grand Canyon Education’s earnings, with estimates ranging from $153.00 million to $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 business is expected to report its next earnings results 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 fiscal year, with estimates ranging from $840.50 million to $841.30 million. For the next fiscal year, analysts expect 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 calculations are an average based on a survey of analysts that follow Grand Canyon Education.

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

Several research analysts have recently commented on the stock. Zacks Investment Research cut shares of Grand Canyon Education from a “buy” rating to a “hold” rating in a report on Thursday, October 11th. BidaskClub upgraded shares of Grand Canyon Education from a “hold” rating to a “buy” rating in a research report on Thursday, October 11th. Barrington Research reiterated a “buy” rating and set a $135.00 price target on shares of Grand Canyon Education in a research report on Friday, October 5th. Robert W. Baird increased their price target 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. Finally, BMO Capital Markets increased their price target 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. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $133.20.

Shares of LOPE opened at $119.91 on Wednesday. Grand Canyon Education has a 12 month low of $83.52 and a 12 month high of $123.30. The company has a market cap of $5.44 billion, a PE ratio of 29.55, a price-to-earnings-growth ratio of 1.44 and a beta of 1.15. The company has a current ratio of 5.73, a quick ratio of 5.73 and a debt-to-equity ratio of 0.05.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Waddell & Reed Financial Inc. acquired a new stake in shares of Grand Canyon Education during the 2nd quarter worth approximately $51,907,000. GSA Capital Partners LLP acquired a new stake in shares of Grand Canyon Education during the 2nd quarter worth approximately $2,345,000. State of Alaska Department of Revenue acquired a new stake in shares of Grand Canyon Education during the 2nd quarter worth approximately $639,000. State of Wisconsin Investment Board acquired a new stake in shares of Grand Canyon Education during the 2nd quarter worth approximately $1,034,000. Finally, Yorktown Management & Research Co Inc acquired a new stake in shares of Grand Canyon Education during the 2nd quarter worth approximately $335,000. Institutional investors and hedge funds own 94.24% 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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