Higher education company Grand Canyon Education (NASDAQ:) will report its financial results tomorrow afternoon. Here's what investors need to know.
Grand Canyon Education reported revenue of $278.3 million last quarter, beating analyst revenue estimates by 1.1% and increasing 7.6% year-over-year. It was a decent quarter for the company, and its earnings outlook for next quarter exceeded analysts' expectations.
Should Grand Canyon Education be bought or sold for profit? Read the original article on StockStory to find out. Free.
For the current quarter, analysts expect Grand Canyon Education's revenue to increase 8.9% year-over-year to $272.4 million, improving from 2.5% growth in the year-ago period. Adjusted earnings are expected to be $2.22 per share.
The majority of the analysts covering the company have reaffirmed their forecasts over the past 30 days, suggesting that they expect business results to be on track for earnings. Over the past two years, Grand Canyon Education has missed Wall Street's earnings estimates only once, and has exceeded revenue estimates by an average of 0.6%.
A look at Grand Canyon Education's peers in the education services sector, some of which have already reported Q1 results, gives us a hint of what we can expect. Bright Horizons (NYSE:) delivered 12.5% year-over-year revenue growth, beating analyst expectations by 1.2%. Meanwhile, Perdoceo Education (NASDAQ:) reported a 14% revenue decline, beating his expectations by 3%. Following the results, Bright Horizons rose 6.8%, and Perdoceo Education rose 31.7%.
Read the full analysis of Bright Horizons and Perdoceo Education results on StockStory.
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Growth stocks have been very volatile since the start of 2024, and while some education services stocks have fared a little better, they're still not immune, with stocks down an average of 3.4% in the last month. . Over the same period, Grand Canyon Education has risen 3.3% and is on track for earnings with an average analyst price target of $158.3 (current price $136.11).
