Perdoceo Education (NASDAQ:PRDO) Updates Q2 2022 Earnings Guidance

Perdoceo Education (NASDAQ:PRDOGet Rating) issued an update on its second quarter 2022 earnings guidance on Thursday morning. The company provided earnings per share guidance of $0.36-$0.38 for the period, compared to the consensus earnings per share estimate of $0.27. The company issued revenue guidance of -.Perdoceo Education also updated its FY 2022 guidance to $1.32-$1.44 EPS.

Shares of Perdoceo Education stock opened at $10.63 on Friday. Perdoceo Education has a 12-month low of $9.65 and a 12-month high of $13.15. The stock has a market cap of $731.13 million, a P/E ratio of 6.77, a P/E/G ratio of 0.51 and a beta of 1.16. The business’s 50 day moving average is $11.19 and its 200-day moving average is $11.05.

Perdoceo Education (NASDAQ:PRDOGet Rating) last announced its quarterly earnings data on Thursday, February 24th. The company reported $0.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.32 by $0.08. Perdoceo Education had a return on equity of 19.23% and a net margin of 16.03%. The company had revenue of $159.86 million for the quarter, compared to analysts’ expectations of $166.02 million. Analysts forecast that Perdoceo Education will post 1.38 earnings per share for the current fiscal year.

A number of equities research analysts have recently issued reports on PRDO shares. Zacks Investment Research upgraded Perdoceo Education from a hold rating to a buy rating and set a $11.00 price objective on the stock in a research note on Thursday, May 12th. StockNews.com raised Perdoceo Education from a buy rating to a strong-buy rating in a report on Thursday, May 12th. Finally, Barrington Research reissued a buy rating and set a $16.00 target price on shares of Perdoceo Education in a report on Friday, February 25th.

In other Perdoceo Education news, CFO Ashish R. Ghia sold 22,973 shares of the company’s stock in a transaction on Monday, April 11th. The stock was sold at an average price of $11.44, for a total value of $262,811.12. Following the transaction, the chief financial officer now directly owns 194,887 shares of the company’s stock, valued at approximately $2,229,507.28. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Elise Baskel sold 9,508 shares of the company’s stock in a transaction on Friday, April 1st. The shares were sold at an average price of $11.53, for a total value of $109,627.24. Following the completion of the transaction, the senior vice president now directly owns 78,555 shares in the company, valued at $905,739.15. The disclosure for this sale can be found here. Insiders have sold a total of 88,997 shares of company stock worth $981,656 over the last three months. 2.89% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in PRDO. Captrust Financial Advisors grew its holdings in shares of Perdoceo Education by 63.7% during the 1st quarter. Captrust Financial Advisors now owns 4,248 shares of the company’s stock worth $49,000 after purchasing an additional 1,653 shares in the last quarter. Royal Bank of Canada grew its holdings in shares of Perdoceo Education by 127.2% during the 3rd quarter. Royal Bank of Canada now owns 10,948 shares of the company’s stock worth $115,000 after purchasing an additional 6,130 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Perdoceo Education during the 1st quarter worth $121,000. Quantbot Technologies LP acquired a new stake in shares of Perdoceo Education during the 1st quarter worth $229,000. Finally, Hsbc Holdings PLC grew its holdings in shares of Perdoceo Education by 62.5% during the 1st quarter. Hsbc Holdings PLC now owns 20,444 shares of the company’s stock worth $238,000 after purchasing an additional 7,866 shares in the last quarter. 88.00% of the stock is currently owned by institutional investors.

About Perdoceo Education (Get Rating)

Perdoceo Education Corporation provides postsecondary education through online, campus-based, and blended learning programs in the United States. The company operates in two segments, Colorado Technical University and American InterContinental University. It offers academic programs in the career-oriented disciplines of business and management, nursing, healthcare management, computer science, engineering, information systems and technology, project management, cybersecurity, and criminal justice, as well as business studies, information technologies, education, and health sciences.

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