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Perdoceo Education (NASDAQ:PRDO) Updates FY 2022 Earnings Guidance

Perdoceo Education (NASDAQ:PRDO – Get Rating) issued an update on its FY 2022 earnings guidance on Thursday morning. The company provided earnings per share guidance of $1.32-$1.44 for the period, compared to the consensus earnings per share estimate of $1.32. The company issued revenue guidance of -.Perdoceo Education also updated its Q2 2022 guidance to $0.36-$0.38 EPS.

Shares of PRDO opened at $10.50 on Thursday. The firm has a market capitalization of $722.19 million, a P/E ratio of 6.69, a P/E/G ratio of 0.49 and a beta of 1.16. Perdoceo Education has a 52 week low of $9.65 and a 52 week high of $13.15. The stock has a 50 day moving average price of $11.20 and a two-hundred day moving average price of $11.06.

Perdoceo Education (NASDAQ:PRDO – Get Rating) last posted its earnings results on Thursday, February 24th. The company reported $0.40 EPS for the quarter, topping the consensus estimate of $0.32 by $0.08. The firm had revenue of $159.86 million for the quarter, compared to analysts’ expectations of $166.02 million. Perdoceo Education had a net margin of 16.03% and a return on equity of 19.23%. On average, analysts expect that Perdoceo Education will post 1.38 earnings per share for the current year.

A number of research analysts have issued reports on the company. Zacks Investment Research upgraded Perdoceo Education from a hold rating to a buy rating and set a $11.00 price objective for the company in a research note on Thursday, May 12th. upgraded shares of Perdoceo Education from a buy rating to a strong-buy rating in a report on Thursday, May 12th. Finally, Barrington Research reiterated a buy rating and issued a $16.00 target price on shares of Perdoceo Education in a research note on Friday, February 25th.

In related news, CFO Ashish R. Ghia sold 22,973 shares of the stock in a transaction on Monday, April 11th. The stock was sold at an average price of $11.44, for a total value of $262,811.12. Following the sale, the chief financial officer now owns 194,887 shares in the company, valued at $2,229,507.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Michele A. Peppers sold 14,688 shares of Perdoceo Education stock in a transaction on Thursday, March 3rd. The shares were sold at an average price of $10.74, for a total value of $157,749.12. The disclosure for this sale can be found here. Over the last three months, insiders sold 88,997 shares of company stock worth $981,656. Insiders own 2.89% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Captrust Financial Advisors lifted its position in Perdoceo Education by 63.7% during the first quarter. Captrust Financial Advisors now owns 4,248 shares of the company’s stock valued at $49,000 after purchasing an additional 1,653 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in Perdoceo Education during the first quarter valued at about $121,000. Royal Bank of Canada lifted its stake in Perdoceo Education by 127.2% during the third quarter. Royal Bank of Canada now owns 10,948 shares of the company’s stock worth $115,000 after purchasing an additional 6,130 shares during the last quarter. Quantbot Technologies LP purchased a new position in shares of Perdoceo Education in the 1st quarter worth about $229,000. Finally, Hsbc Holdings PLC grew its position in Perdoceo Education by 62.5% during the first quarter. Hsbc Holdings PLC now owns 20,444 shares of the company’s stock valued at $238,000 after acquiring an additional 7,866 shares during the last quarter. 88.00% of the stock is currently owned by institutional investors and hedge funds.

About Perdoceo Education (GetRating)

Perdoceo Education Corporation provides postsecondary education through online, campus-based, and blended learning programs in the United States. The company operates in two segments, Colorado Technical University and American InterContinental University. It offers academic programs in the career-oriented disciplines of business and management, nursing, healthcare management, computer science, engineering, information systems and technology, project management, cybersecurity, and criminal justice, as well as business studies, information technologies, education, and health sciences.

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