Perdoceo Education (NASDAQ:PRDO) Issues Earnings Results

Perdoceo Education (NASDAQ:PRDO) released its quarterly earnings data on Tuesday. The company reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.53 by $0.06, Zacks reports. The business had revenue of $169.83 million during the quarter, compared to analyst estimates of $164.60 million. Perdoceo Education had a return on equity of 15.88% and a net margin of 20.42%. The company’s revenue was down 5.6% compared to the same quarter last year. During the same period last year, the company posted $0.64 EPS.

Perdoceo Education Trading Down 5.9 %

Shares of PRDO stock traded down $1.66 on Thursday, hitting $26.30. The stock had a trading volume of 585,334 shares, compared to its average volume of 466,214. The firm has a market cap of $1.73 billion, a P/E ratio of 14.05, a PEG ratio of 0.76 and a beta of 1.04. Perdoceo Education has a twelve month low of $16.12 and a twelve month high of $29.47. The company has a fifty day moving average price of $22.07 and a two-hundred day moving average price of $22.33.

Perdoceo Education Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Monday, December 2nd will be issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 1.98%. The ex-dividend date of this dividend is Monday, December 2nd. Perdoceo Education’s dividend payout ratio is presently 26.13%.

Wall Street Analysts Forecast Growth

Separately, Barrington Research raised their target price on Perdoceo Education from $30.00 to $32.00 and gave the company an “outperform” rating in a report on Wednesday.

Insider Buying and Selling

In related news, insider Michele A. Peppers sold 6,476 shares of the 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 sale, the insider now owns 61,952 shares in the company, valued at approximately $1,300,992. This trade represents a 9.46 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 1.81% of the company’s stock.

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.