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

Written by Mamie M. Arndt

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Perdoceo Education (NASDAQ:PRDOGet Rating) issued an update on its FY 2022 earnings guidance on Thursday morning. The company provided earnings per share guidance of $1.280-$1.420 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $1.680. The company issued revenue guidance of -.Perdoceo Education also updated its Q1 2022 guidance to $0.470-$0.490 EPS.

Several equities analysts have commented on the stock. Barrington Research reissued a buy rating and set a $16.00 target price on shares of Perdoceo Education in a research note on Friday, February 25th. Zacks Investment Research cut shares of Perdoceo Education from a hold rating to a sell rating in a research note on Thursday, February 3rd.

Shares of NASDAQ:PRDO traded up $0.22 during trading hours on Friday, hitting $11.75. 287,959 shares of the company’s stock traded hands, compared to its average volume of 638,555. Perdoceo Education has a 52 week low of $9.65 and a 52 week high of $13.15. The company’s fifty day simple moving average is $10.83 and its two-hundred day simple moving average is $10.94. The company has a market cap of $807.81 million, a price-to-earnings ratio of 7.63, a price-to-earnings-growth ratio of 0.59 and a beta of 1.21.

Perdoceo Education (NASDAQ:PRDOGet Rating) last announced 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 company had revenue of $159.86 million during the quarter, compared to analysts’ expectations of $166.02 million. Perdoceo Education had a net margin of 15.82% and a return on equity of 19.39%. Analysts expect that Perdoceo Education will post 1.32 EPS for the current fiscal year.

In related news, insider Michele A. Peppers sold 14,688 shares of the firm’s stock in a transaction that occurred on Thursday, March 3rd. The shares were sold at an average price of $10.74, for a total transaction of $157,749.12. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Leslie T. Thornton sold 16,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 3rd. The shares were sold at an average price of $10.75, for a total transaction of $172,000.00. The disclosure for this sale can be found here. Insiders sold 47,008 shares of company stock valued at $503,394 over the last three months. 3.55% of the stock is owned by insiders.

Several large investors have recently added to or reduced their stakes in the company. Morgan Stanley grew its stake in shares of Perdoceo Education by 0.7% in the second quarter. Morgan Stanley now owns 430,595 shares of the company’s stock worth $5,283,000 after acquiring an additional 2,889 shares during the last quarter. Royal Bank of Canada boosted 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 buying an additional 6,130 shares in the last quarter. Millennium Management LLC acquired a new stake in Perdoceo Education during the third quarter worth $1,243,000. Citigroup Inc. boosted its stake in Perdoceo Education by 37.4% during the fourth quarter. Citigroup Inc. now owns 67,568 shares of the company’s stock worth $795,000 after buying an additional 18,398 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in Perdoceo Education by 5.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 933,399 shares of the company’s stock worth $10,978,000 after buying an additional 45,216 shares in the last quarter. 87.22% of the stock is currently owned by institutional investors.

Perdoceo Education Company Profile (Get Rating)

Perdoceo Education Corp. engages in the provision of educational services. It operates through the following segments: Colorado Technical University (CTU) and American InterContinental University (AIU). The CTU segment offers academic programs in the disciplines of business studies, nursing, computer science, engineering, information systems and technology, cybersecurity and healthcare management.

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About the author

Mamie M. Arndt