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LONDON, UK / ACCESSWIRE / April 04, 2018 / Active-Investors.com has just released a free earnings report on Grand Canyon Education, Inc. (NASDAQ: LOPE) ("Grand Canyon"). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=LOPE. Grand Canyon reported its fourth quarter and fiscal 2017 operating and financial results on February 21, 2018. The for-profit education Company outperformed top- and bottom-line expectations. Register today and get access to over 1,000 Free Research Reports by joining our site below:
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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Grand Canyon Education most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:
Earnings Highlights and Summary
Grand Canyon's net revenue increased 10.9% to $271.4 million for Q4 2017 compared to $244.7 million for Q4 2016. The Company's revenue numbers beat analysts' estimates by $3 million.
Grand Canyon's end-of-period enrollment increased 10.2% to 90,297 at December 31, 2017, from 81,908 at December 31, 2016, as ground enrollment increased 9.2% to 18,842 at December 31, 2017, from 17,262 at December 31, 2016 and online enrollment increased 10.5% to 71,455 at December 31, 2017, from 64,646 at December 31, 2016.
During Q4 2017, Grand Canyon's operating income was $91.3 million, an increase of 19.1% compared to $76.7 million for Q4 2016. The operating margin for the reported quarter was 33.7% compared to 31.3% for the year earlier quarter.
Grand Canyon's net income increased 42.3% to $68.3 million, or $1.41 per diluted share, for Q4 2017 compared to $48.0 million, or $1.01 per diluted share, in Q4 2016. The Company's earnings beat Wall estimates of $1.10 per share.
For Q4 2017, Grand Canyon's adjusted earnings before interest, tax, depreciation, and amortization (EBITDA) increased 16.5% to $108.5 million compared to $93.1 million for Q4 2016.
Grand Canyon's net revenue increased 11.5% to $974.1 million for the year ended December 31, 2017, compared to $873.3 million for FY16.
For FY17, Grand Canyon's net income totaled $203.3 million, or $4.22 per diluted share, compared to $148.5 million, or $3.15 per diluted share, for FY16.
Balance Sheet and Cash Flow
Grand Canyon's unrestricted cash and cash equivalents and investments were $242.7 million and $108.6 million at December 31, 2017, and December 31, 2016, respectively. The Company's restricted cash and cash equivalents at December 31, 2017, and December 31, 2016, were $94.5 million and $84.9 million, respectively.
Grand Canyon's net cash provided by operating activities for FY17 and FY16 was $304.9 million and $237.8 million, respectively. The Company's cash provided by operations in FY17 and FY16 resulted from the Company's increased net income plus non-cash charges for provision for bad debts, depreciation, and amortization, timing of income tax and employee related payments, and student deposits and changes in other working capital.
For first quarter 2018, Grand Canyon is forecasting net revenue of $274.0 million. The Company is estimating operating margin of 31.5% and earnings of $1.39 per diluted share.
For full year 2018, Grand Canyon is projecting net revenue of $1.05 billion. The Company is expecting operating margin of 28.5% and earnings of $4.69 per diluted share.
Stock Performance Snapshot
April 03, 2018 - At Tuesday's closing bell, Grand Canyon Education's stock was slightly up 0.44%, ending the trading session at $104.43.
Volume traded for the day: 308.24 thousand shares, which was above the 3-month average volume of 259.44 thousand shares.
Stock performance in the last month – up 7.16%; previous three-month period – up 16.64%; past twelve-month period – up 45.83%; and year-to-date – up 16.64%
After yesterday's close, Grand Canyon Education's market cap was at $5.03 billion.
Price to Earnings (P/E) ratio was at 26.15.
The stock is part of the Services sector, categorized under the Education & Training Services industry. This sector was up 0.9% at the end of the session.
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