Perdoceo Education (NASDAQ:PRDO) Releases Earnings Results, Beats Estimates By $0.06 EPS

Perdoceo Education (NASDAQ:PRDO) announced its earnings results on Tuesday. The company reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.06, Zacks reports. The company 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%. Perdoceo Education’s quarterly revenue was down 5.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.64 earnings per share.

Perdoceo Education Stock Down 5.9 %

Shares of PRDO stock opened at $26.30 on Friday. The firm has a market cap of $1.73 billion, a P/E ratio of 13.22, a PEG ratio of 0.82 and a beta of 1.04. The company has a 50 day moving average of $22.07 and a 200-day moving average of $22.33. Perdoceo Education has a 12-month low of $16.12 and a 12-month high of $29.47.

Perdoceo Education Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Monday, December 2nd will be issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.98%. The ex-dividend date of this dividend is Monday, December 2nd. Perdoceo Education’s dividend payout ratio (DPR) is currently 26.13%.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. StockNews.com upgraded shares of Perdoceo Education from a “buy” rating to a “strong-buy” rating in a research note on Thursday. Barrington Research boosted their target price on Perdoceo Education from $30.00 to $32.00 and gave the stock an “outperform” rating in a research note on Wednesday.

Insider Buying and Selling at Perdoceo Education

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

Perdoceo Education Company Profile

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.