Grand Canyon Education Shares Hit New High

Shares of Grand Canyon Education touched a new record high Friday after the for-profit education company reported late Thursday Q1 results which were better-than-expected and guided full-year results above views compiled by Capital IQ. LOPE was up over 2% in recent trade, moving in a new 52-week range of $37.94 to $81.16. Q1 EPS was $1.16 per share, up from $0.93 per share a year earlier and above the $1.01 per share consensus. Revenues rose 9.4% year-over-year to $248.2 million and topped the $244.6 million mean estimate.

For FY17, Grand Canyon expects EPS of $3.64 per share on revenues of $955.8 million, above the consensus of $3.47 for EPS and $951.9 million for revenues. Q2 EPS is forecast at $0.68 per share with revenues of $212.7 million. Analysts are expecting EPS of $0.63 per share on revenues of $212.3 million.

By Stephen Holmes