Earnings Review and Free Research Report: Grand Canyon Education’s Q2 Top-line Rise 14.1% Y-o-Y, Beating Market Expectations
Research Desk Line-up: Laureate Education Post Earnings Coverage
LONDON, UK / ACCESSWIRE / August 18, 2017 /Pro-Trader Daily has just published a free post-earnings coverage on Grand Canyon Education, Inc. (NASDAQ: LOPE), which can be viewed by registering at http://protraderdaily.com/optin/?symbol=LOPE, following the Company's announcement of its financial results on August 01, 2017, for the second quarter fiscal 2017 (Q2 FY17). The Phoenix, Arizona-based Company's net revenue grew 14.1% y-o-y; outperforming market consensus estimates. Our daily stock reports are accessible for free, and with those to look forward today you also will be signing up for a complimentary member's account at:
Get more of our free earnings reports coverage from other constituents of the Education & Training Services industry. Pro-TD has currently selected Laureate Education, Inc. (NASDAQ: LAUR) for due-diligence and potential coverage as the Company announced on August 08, 2017, its financial results for Q2 and six months which ended on June 30, 2017. Register for a free membership today, and be among the early birds that get access to our report on Laureate Education when we publish it.
At Pro-TD, we make it our mission to bring you news that matter about the stock you follow. Today, our research desk covers a blog story on LOPE; also brushing on LAUR. With the links below you can directly download the report of your stock of interest free of charge at:
Grand Canyon Education's net revenue rose to $218.30 million during Q2 FY17 from $191.28 million recorded at the end of Q2 FY16. Net revenue numbers also topped market consensus estimates of $213.08 million for Q2 FY17. Furthermore, excluding the impact of the shift of residential traditional campus start days, the Company's revenue growth would have been 11.7% for the reported quarter.
The for-profit education Company's net income came in at $39.85 million, or $0.83 per diluted share, for Q2 FY17 up from $27.63 million, or $0.59 per diluted share, in prior year's comparable quarter. Meanwhile, Wall Street had expected the Company to post net income of $0.68 per share for the reported quarter.
In Q2 FY17, Grand Canyon Education's total costs and expenses increased to $163.21 million from $146.53 million in Q2 FY16. The Company reported operating income of $55.09 million in Q2 FY17, rising 23.1% from $44.75 million in Q2 FY16. The Company's operating margin for Q2 FY17 was 25.2% compared to 23.4% in the previous year's comparable quarter. Additionally, adjusted EBITDA increased 23.3% to $72.08 million in Q2 FY17 from $58.44 million in Q2 FY16.
The Company's end-of-period enrollment increased 10.5% to 74,485 as on June 30, 2017, from 67,424 as on June 30, 2016. The on-ground enrollment was also up by 10.8% to 6,015 as on June 30, 2017, from 5,430 at June 30, 2016. Furthermore, online enrollment grew 10.4% to 68,470 as on June 30, 2017, from 61,994 at June 30, 2016.
Cash Matters and Balance Sheet
Grand Canyon Education generated $133.66 million as cash from operating activities in the reported period, up from $112.46 million in Q2 FY16. The Company ended the quarter with cash and cash equivalents balance of $66.28 million versus $45.98 million as on December 31, 2016. Furthermore, the Company had notes payable, less current portion amounting to $63.27 million as on June 30, 2017, compared to $66.62 million as on December 31, 2016.
In its guidance for full year FY17, the Company expects net revenue of $964.4 million and forecasts operating margin of 28.2%. The Company also expects diluted EPS of $3.82 for full year FY17.
For Q3 FY17, the Company anticipates net revenue of $231.0 million, while operating margin is anticipated to be at 24.0%. Furthermore, diluted EPS is forecasted to be $0.75 for Q3 FY17.
The Company also provided net revenue outlook of $266.9 million for Q4 FY17; with operating margin of 31.7%. Diluted EPS is anticipated at $1.08 for Q4 FY17.
Grand Canyon Education's share price finished yesterday's trading session at $79.36, slightly up 0.27%. A total volume of 235.57 thousand shares have exchanged hands. The Company's stock price skyrocketed 3.85% in the last three months, 37.95% in the past six months, and 86.42% in the previous twelve months. Additionally, the stock soared 35.77% since the start of the year. Shares of the Company have a PE ratio of 21.92 and currently have a market cap of $3.82 billion.
Pro-Trader Daily (Pro-TD) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and Canadian stocks. PRO-TD has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE and NASDAQ and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles, and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below.
PRO-TD has not been compensated; directly or indirectly; for producing or publishing this document.
PRESS RELEASE PROCEDURES:
The non-sponsored content contained herein has been prepared by a writer (the "Author") and is fact checked and reviewed by a third party research service company (the "Reviewer") represented by a credentialed financial analyst [for further information on analyst credentials, please email firstname.lastname@example.org. Rohit Tuli, a CFA® charter holder (the "Sponsor"), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written and reviewed on a reasonable effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author according to the procedures outlined by PRO-TD. PRO-TD is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents or reports, as the case may be. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way.
PRO-TD, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted whatsoever for any direct, indirect or consequential loss arising from the use of this document. PRO-TD, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, PRO-TD, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.
NOT AN OFFERING
This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither PRO-TD nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visit http://protraderdaily.com/disclaimer/.
For any questions, inquiries, or comments reach out to us directly. If you're a company we are covering and wish to no longer feature on our coverage list contact us via email and/or phone between 09:30 EDT to 16:00 EDT from Monday to Friday at:
Phone number: (917) 341.4653
Office Address: Mainzer Landstrasse 50 Frankfurt am Main, Germany 60325
CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.
© 2017 Accesswire. All Rights Reserved.