Stock Story -
Higher education company Grand Canyon Education (NASDAQ:LOPE) will be reporting results tomorrow afternoon. Here's what investors should know.
Grand Canyon Education met analysts' revenue expectations last quarter, reporting revenues of $274.7 million, up 9.8% year on year. It was a decent quarter for the company, with optimistic earnings guidance for the next quarter.
Is Grand Canyon Education a buy or sell going into earnings? Find out by reading the original article on StockStory, it's free.
This quarter, analysts are expecting Grand Canyon Education's revenue to grow 6.2% year on year to $223.6 million, in line with the 5.4% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.10 per share.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Grand Canyon Education has only missed Wall Street's revenue estimates once over the last two years, exceeding top-line expectations by 0.6% on average.
Looking at Grand Canyon Education's peers in the education services segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Strategic Education delivered year-on-year revenue growth of 8.5%, beating analysts' expectations by 1.3%, and Laureate Education reported revenues up 8%, topping estimates by 3.2%. Strategic Education traded down 19.8% following the results while Laureate Education was also down 7.6%.
Read the full analysis of Strategic Education's and Laureate Education's results on StockStory.
There has been positive sentiment among investors in the education services segment, with share prices up 3.3% on average over the last month. Grand Canyon Education is up 6.1% during the same time and is heading into earnings with an average analyst price target of $165 (compared to the current share price of $151.88).
