Domestic, For-Profit, Investors, Required, University & College - Written by on Friday, August 5, 2011 11:34 - 0 Comments

Grand Canyon: Lope, Strong Like Bull, Q2 Earnings Beat

"Lope" in front of Grand Canyon Student Union

by Elbert Chu


In the sea of red, Grand Canyon Education Inc. (NASDAQ: LOPE) leaped like their antelope mascot, up 13% with a solid Q2 EPS of $0.29 beating analyst estimates of $0.23, giving investors reason to push the stock +$1.87 to $16.16.

Bloomberg reports that the company is turning its focus on attracting and enrolling students who have higher rates of completion like healthcare. This echoes DeVry’s purchase of medical school, AUC.

In addition, the Phoenix, AZ-based company finds students at their physical campus cost less to recruit because of their brand recognition in Phoenix.

Another reason for optimism: Grand Canyon did not guide lower. UBS analyst Ariel Sokol writes:

Grand Canyon maintained guidance of 13-15% revenue growth in 2H11 and 18% operating margin.  We note that the company had previously guided down forward EPS three quarters in a row.  Barring further regulatory or macroeconomic changes impacting demand, it appears that the reset of earnings for the company is largely complete.

The company also announced it has now increased the amount of stock they can repurchase to $50M. They have already repurchased over $24M worth of shares.

Full article at Bloomberg.

Stock repurchase press release at Market Watch.

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