Equities Analysts Set Expectations for PRDO FY2024 Earnings

Perdoceo Education Co. (NASDAQ:PRDO) – Research analysts at Barrington Research upped their FY2024 earnings estimates for Perdoceo Education in a note issued to investors on Wednesday, November 13th. Barrington Research analyst A. Paris now forecasts that the company will post earnings of $2.27 per share for the year, up from their prior estimate of $2.19. Barrington Research currently has a “Outperform” rating and a $32.00 price objective 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.

Separately, StockNews.com raised shares of Perdoceo Education from a “buy” rating to a “strong-buy” rating in a research note on Thursday.

Perdoceo Education Stock Up 1.0 %

Perdoceo Education stock opened at $26.55 on Friday. The business’s 50-day simple moving average is $22.16 and its 200 day simple moving average is $22.36. The stock has a market cap of $1.74 billion, a price-to-earnings ratio of 13.22, a P/E/G ratio of 0.82 and a beta of 1.04. Perdoceo Education has a 12-month low of $16.12 and a 12-month high of $29.47.

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

Perdoceo Education Announces Dividend

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

Insider Buying and Selling

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

Hedge Funds Weigh In On Perdoceo Education

Hedge funds and other institutional investors have recently made changes to their positions in the company. Barclays PLC increased its position in shares of Perdoceo Education by 353.5% in the 3rd quarter. Barclays PLC now owns 110,622 shares of the company’s stock valued at $2,460,000 after buying an additional 86,227 shares in the last quarter. Wellington Management Group LLP bought a new stake in shares of Perdoceo Education in the third quarter worth about $9,374,000. Weiss Asset Management LP bought a new stake in shares of Perdoceo Education in the third quarter worth about $1,043,000. Point72 DIFC Ltd bought a new position in shares of Perdoceo Education during the 3rd quarter valued at about $114,000. Finally, Point72 Asset Management L.P. acquired a new position in shares of Perdoceo Education in the 3rd quarter valued at approximately $133,000. 93.46% of the stock is owned by institutional investors.

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.