Higher education company Grand Canyon Education (NASDAQ: LOPE) will be reporting results this Thursday afternoon. Here’s what investors should know.
Grand Canyon Education met analysts’ revenue expectations last quarter, reporting revenues of $308.1 million, up 5.3% year on year. It was a strong quarter for the company, with EPS guidance for next quarter exceeding analysts’ expectations and revenue guidance for next quarter exceeding analysts’ expectations. It reported 131,826 students, up 7% year on year.
Is Grand Canyon Education a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Grand Canyon Education’s revenue to grow 6.3% year on year, in line with the 5.3% increase it recorded in the same quarter last year.
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 rarely misses Wall Street’s revenue estimates.
Looking at Grand Canyon Education’s peers in the consumer discretionary segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Strategic Education posted flat year-on-year revenue, missing analysts’ expectations by 1.2%, and Monarch reported revenues up 8.9%, topping estimates by 5.2%. Strategic Education traded down 12.1% following the results while Monarch was up 15.9%.
Read our full analysis of Strategic Education’s results here and Monarch’s results here.
There has been positive sentiment among investors in the consumer discretionary segment, with share prices up 12.5% on average over the last month. Grand Canyon Education’s stock price was unchanged during the same time and is heading into earnings with an average analyst price target of $213 (compared to the current share price of $167.87).
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