Piper Jaffray Reiterates an 'Overweight' on Grand Canyon Education (LOPE); Raises Estimates
LOPE Hot Sheet
Rating Summary:9 Buy, 0 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 16 | Down: 7 | New: 23
Piper Jaffray reiterates an 'Overweight' rating on Grand Canyon Education (Nasdaq: LOPE), price target raised by $1 to $25.
Piper analyst says, "Solid Enrollment Growth. Q3 enrollment growth of 55.8% y/y was above our 49.8% estimate. Q4 enrollment growth guidance of 46.0% y/y was roughly in-line with our prior 45.6% estimate. Note, Q409 has a tougher comparison than was the case for Q309 (Q408 y/y enrollment growth was +67.0% y/y vs. Q308 +63.7% y/y). FY10 enrollment guidance of 47K-49K was above our prior ~46K estimate...Raising FY10E Revenue and EPS. Flowing through Q3's outperformance, we are raising our FY09E revenue and GAAP EPS from $263M and $0.67, to $264M and $0.69 (Street: $262M & $0.67). Likewise, we are raising our FY10E revenue and GAAP EPS from $362M and $0.97 to $390 and $1.15 (Street: $364M and $0.99; guidance: $390M-$400M & $1.15-$1.23)."
To see more analyst ratings on LOPE Click Here.
Grand Canyon Education, Inc. provides online postsecondary education services in the United States.
Piper analyst says, "Solid Enrollment Growth. Q3 enrollment growth of 55.8% y/y was above our 49.8% estimate. Q4 enrollment growth guidance of 46.0% y/y was roughly in-line with our prior 45.6% estimate. Note, Q409 has a tougher comparison than was the case for Q309 (Q408 y/y enrollment growth was +67.0% y/y vs. Q308 +63.7% y/y). FY10 enrollment guidance of 47K-49K was above our prior ~46K estimate...Raising FY10E Revenue and EPS. Flowing through Q3's outperformance, we are raising our FY09E revenue and GAAP EPS from $263M and $0.67, to $264M and $0.69 (Street: $262M & $0.67). Likewise, we are raising our FY10E revenue and GAAP EPS from $362M and $0.97 to $390 and $1.15 (Street: $364M and $0.99; guidance: $390M-$400M & $1.15-$1.23)."
To see more analyst ratings on LOPE Click Here.
Grand Canyon Education, Inc. provides online postsecondary education services in the United States.
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