Perdoceo Education (NASDAQ:PRDO) Issues Quarterly Earnings Results, Beats Expectations By $0.07 EPS

Perdoceo Education (NASDAQ:PRDO) released its earnings results on Wednesday. The company reported $0.60 EPS for the quarter, beating the consensus estimate of $0.53 by $0.07, Briefing.com reports. Perdoceo Education had a net margin of 20.80% and a return on equity of 17.63%. The business had revenue of $168.30 million during the quarter, compared to analyst estimates of $163.30 million. During the same period in the prior year, the business earned $0.58 earnings per share. The business’s quarterly revenue was down 14.0% on a year-over-year basis.

Perdoceo Education Stock Up 26.7 %

PRDO stock traded up $4.89 during trading hours on Thursday, hitting $23.23. The company’s stock had a trading volume of 1,289,095 shares, compared to its average volume of 515,763. The company has a market capitalization of $1.52 billion, a PE ratio of 10.60, a price-to-earnings-growth ratio of 0.58 and a beta of 0.92. Perdoceo Education has a 12 month low of $11.50 and a 12 month high of $23.60. The stock has a 50 day moving average price of $17.62 and a two-hundred day moving average price of $17.65.

Perdoceo Education Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were paid a $0.11 dividend. The ex-dividend date was Thursday, February 29th. This represents a $0.44 annualized dividend and a yield of 1.89%. Perdoceo Education’s dividend payout ratio is presently 20.18%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Barrington Research reissued an “outperform” rating and set a $23.00 target price on shares of Perdoceo Education in a research note on Monday, April 15th. StockNews.com lowered shares of Perdoceo Education from a “strong-buy” rating to a “buy” rating in a report on Thursday, April 25th.

Insiders Place Their Bets

In related news, CFO Ashish R. Ghia sold 11,412 shares of the company’s stock in a transaction on Friday, April 26th. The shares were sold at an average price of $19.00, for a total transaction of $216,828.00. Following the completion of the sale, the chief financial officer now directly owns 226,234 shares of the company’s stock, valued at approximately $4,298,446. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Perdoceo Education news, CFO Ashish R. Ghia sold 11,412 shares of the business’s stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $19.00, for a total value of $216,828.00. Following the completion of the transaction, the chief financial officer now directly owns 226,234 shares of the company’s stock, valued at $4,298,446. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Todd S. Nelson sold 16,000 shares of the business’s stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $17.23, for a total transaction of $275,680.00. Following the completion of the transaction, the chief executive officer now directly owns 713,367 shares of the company’s stock, valued at $12,291,313.41. The disclosure for this sale can be found here. Insiders sold 75,412 shares of company stock valued at $1,342,428 over the last ninety days. Corporate insiders own 1.81% of the company’s stock.

About Perdoceo Education

Perdoceo Education Corporation provides postsecondary education through online, campus-based, and blended learning programs in the United States. It operates in two segments, Colorado Technical University and The American InterContinental University System. The Colorado Technical University segment offers academic programs, such as business and management, nursing, healthcare management, computer science, engineering, information systems and technology, project management, cybersecurity, and criminal justice.