FY2024 EPS Estimates for PRDO Lifted by Barrington Research

Perdoceo Education Co. (NASDAQ:PRDO) – Barrington Research boosted their FY2024 earnings per share estimates for Perdoceo Education in a report issued on Wednesday, November 13th. Barrington Research analyst A. Paris now expects that the company will post earnings of $2.27 per share for the year, up from their prior forecast of $2.19. Barrington Research currently has a “Outperform” rating and a $32.00 target price on the stock. The consensus estimate for Perdoceo Education’s current full-year earnings is $2.27 per share. Barrington Research also issued estimates for Perdoceo Education’s Q4 2024 earnings at $0.48 EPS.

Perdoceo Education (NASDAQ:PRDO) last released its earnings results on Tuesday, November 12th. The company reported $0.59 EPS for the quarter, beating the consensus estimate of $0.53 by $0.06. The firm had revenue of $169.83 million for the quarter, compared to analysts’ expectations of $164.60 million. Perdoceo Education had a return on equity of 15.58% and a net margin of 20.42%. The business’s quarterly revenue was down 5.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.64 EPS.

Separately, StockNews.com upgraded Perdoceo Education from a “buy” rating to a “strong-buy” rating in a report on Thursday.

Perdoceo Education Trading Up 1.0 %

Perdoceo Education stock opened at $26.55 on Friday. The company has a fifty day simple moving average of $22.16 and a 200 day simple moving average of $22.36. Perdoceo Education has a 1-year low of $16.12 and a 1-year high of $29.47. The company has a market cap of $1.74 billion, a P/E ratio of 13.22, a price-to-earnings-growth ratio of 0.82 and a beta of 1.04.

Institutional Trading of Perdoceo Education

Hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. lifted its holdings in Perdoceo Education by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 5,896,257 shares of the company’s stock valued at $103,538,000 after purchasing an additional 45,259 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Perdoceo Education by 0.6% in the second quarter. Dimensional Fund Advisors LP now owns 5,069,173 shares of the company’s stock valued at $108,580,000 after purchasing an additional 28,909 shares during the period. Renaissance Technologies LLC lifted its stake in shares of Perdoceo Education by 2.5% during the 2nd quarter. Renaissance Technologies LLC now owns 4,505,687 shares of the company’s stock worth $96,512,000 after buying an additional 107,918 shares during the last quarter. Pacer Advisors Inc. boosted its holdings in shares of Perdoceo Education by 24.3% during the 2nd quarter. Pacer Advisors Inc. now owns 2,650,123 shares of the company’s stock worth $56,766,000 after buying an additional 518,048 shares during the period. Finally, LSV Asset Management grew its stake in Perdoceo Education by 3.9% in the 2nd quarter. LSV Asset Management now owns 2,010,254 shares of the company’s stock valued at $43,060,000 after buying an additional 75,293 shares during the last quarter. 93.46% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Perdoceo Education

In other Perdoceo Education news, insider Michele A. Peppers sold 6,476 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $21.00, for a total transaction of $135,996.00. Following the transaction, the insider now owns 61,952 shares of the company’s stock, valued at $1,300,992. The trade was a 9.46 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.81% of the stock is owned by company insiders.

Perdoceo Education Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Monday, December 2nd will be issued a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 1.96%. The ex-dividend date of this dividend is Monday, December 2nd. Perdoceo Education’s payout ratio is presently 26.13%.

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.