FY2024 EPS Estimates for PRDO Boosted by Barrington Research

Perdoceo Education Co. (NASDAQ:PRDO - Free Report) - Equities researchers at Barrington Research increased their FY2024 earnings estimates for Perdoceo Education in a note issued to investors on Wednesday, November 13th. Barrington Research analyst A. Paris now anticipates that the company will post earnings per share of $2.27 for the year, up from their prior estimate of $2.19. Barrington Research 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.

Perdoceo Education (NASDAQ:PRDO - Get Free Report) last released its quarterly earnings results on Tuesday, November 12th. The company reported $0.59 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.53 by $0.06. Perdoceo Education had a return on equity of 15.58% and a net margin of 20.42%. The firm had revenue of $169.83 million for the quarter, compared to analyst estimates of $164.60 million. During the same quarter last year, the company posted $0.64 earnings per share. The business's revenue was down 5.6% on a year-over-year basis.

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

Perdoceo Education Price Performance

Perdoceo Education stock traded up $0.25 during mid-day trading on Friday, reaching $26.55. The company had a trading volume of 404,540 shares, compared to its average volume of 465,936. The stock's 50-day simple moving average is $22.16 and its 200-day simple moving average is $22.36. The company has a market capitalization of $1.74 billion, a P/E ratio of 13.22, a P/E/G ratio of 0.82 and a beta of 1.04. Perdoceo Education has a 1 year low of $16.12 and a 1 year high of $29.47.

Perdoceo Education Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders 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 is Monday, December 2nd. Perdoceo Education's dividend payout ratio (DPR) is presently 26.13%.

Insider Activity

In related news, insider Michele A. Peppers sold 6,476 shares of the stock in a transaction 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 sale, the insider now owns 61,952 shares of the company's stock, valued at $1,300,992. This trade represents a 9.46 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.81% of the company's stock.

Institutional Investors Weigh In On Perdoceo Education

Several hedge funds have recently modified their holdings of PRDO. Boston Partners lifted its holdings in shares of Perdoceo Education by 979.2% during the 1st quarter. Boston Partners now owns 750,979 shares of the company's stock worth $13,376,000 after acquiring an additional 681,391 shares during the period. Pacer Advisors Inc. raised its stake in Perdoceo Education by 24.3% during the second quarter. Pacer Advisors Inc. now owns 2,650,123 shares of the company's stock worth $56,766,000 after purchasing an additional 518,048 shares during the period. Wellington Management Group LLP acquired a new position in shares of Perdoceo Education in the 3rd quarter valued at $9,374,000. Millennium Management LLC grew its stake in shares of Perdoceo Education by 944.8% during the 2nd quarter. Millennium Management LLC now owns 246,659 shares of the company's stock valued at $5,283,000 after buying an additional 223,050 shares during the period. Finally, Assenagon Asset Management S.A. acquired a new stake in shares of Perdoceo Education during the 2nd quarter worth $3,634,000. 93.46% of the stock is owned by institutional investors and hedge funds.

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.