Perdoceo Education Co. (NASDAQ:PRDO) Expected to Post Q2 2024 Earnings of $0.58 Per Share

Perdoceo Education Co. (NASDAQ:PRDO) – Stock analysts at Barrington Research upped their Q2 2024 earnings per share (EPS) estimates for Perdoceo Education in a research report issued on Thursday, May 2nd. Barrington Research analyst A. Paris now expects that the company will post earnings of $0.58 per share for the quarter, up from their previous estimate of $0.53. Barrington Research currently has a “Outperform” rating and a $25.00 target price on the stock. The consensus estimate for Perdoceo Education’s current full-year earnings is $2.21 per share. Barrington Research also issued estimates for Perdoceo Education’s Q3 2024 earnings at $0.53 EPS, Q4 2024 earnings at $0.50 EPS, FY2024 earnings at $2.21 EPS and FY2025 earnings at $2.34 EPS.

Perdoceo Education (NASDAQ:PRDO) last announced its quarterly earnings data on Wednesday, May 1st. The company reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.53 by $0.07. The company had revenue of $168.30 million during the quarter, compared to analysts’ expectations of $163.30 million. Perdoceo Education had a net margin of 22.35% and a return on equity of 17.09%. The firm’s revenue was down 14.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.58 EPS.

Separately, StockNews.com cut Perdoceo Education from a “strong-buy” rating to a “buy” rating in a research note on Thursday, April 25th.

Perdoceo Education Price Performance

Shares of NASDAQ PRDO opened at $24.36 on Monday. Perdoceo Education has a 1 year low of $11.62 and a 1 year high of $24.66. The company’s 50-day moving average is $18.04 and its 200 day moving average is $17.79. The stock has a market capitalization of $1.60 billion, a P/E ratio of 10.73, a P/E/G ratio of 0.73 and a beta of 0.93.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of PRDO. Planned Solutions Inc. bought a new position in Perdoceo Education in the fourth quarter worth approximately $26,000. McGlone Suttner Wealth Management Inc. purchased a new stake in Perdoceo Education during the fourth quarter worth $26,000. AJOVista LLC purchased a new stake in Perdoceo Education during the fourth quarter worth $81,000. Banque Cantonale Vaudoise lifted its holdings in Perdoceo Education by 9.9% during the first quarter. Banque Cantonale Vaudoise now owns 6,269 shares of the company’s stock worth $110,000 after buying an additional 565 shares during the period. Finally, Commons Capital LLC purchased a new stake in Perdoceo Education during the fourth quarter worth $193,000. Institutional investors own 93.46% of the company’s stock.

Insider Buying and Selling

In related news, CFO Ashish R. Ghia sold 11,412 shares of Perdoceo Education stock in a transaction on Friday, April 26th. The stock was sold at an average price of $19.00, for a total transaction of $216,828.00. Following the transaction, the chief financial officer now directly owns 226,234 shares in the company, valued at $4,298,446. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, 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 value of $275,680.00. Following the sale, the chief executive officer now directly owns 713,367 shares in the company, valued at $12,291,313.41. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Ashish R. Ghia sold 11,412 shares of the business’s stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $19.00, for a total value of $216,828.00. Following the completion of the sale, the chief financial officer now owns 226,234 shares in the company, valued at $4,298,446. 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 90 days. Company insiders own 1.81% of the company’s stock.

Perdoceo Education Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, June 15th. Investors of record on Saturday, June 1st will be issued a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 1.81%. The ex-dividend date of this dividend is Friday, May 31st. Perdoceo Education’s payout ratio is currently 19.38%.

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.