Grand Canyon Education Up 12% After Earnings

Grand Canyon Education

is among the leading stocks on the Nasdaq that are seeing unusual volume changes on Wednesday. On Tuesday, the company released its fiscal first-quarter earnings results after the closing bell. Grand Canyon reported net income of $14.5 million or $0.32 per share, compared to $9.5 million or $0.21 per share, in the year ago period. This came in ahead of Wall Street analysts' consensus EPS estimates of $0.26. Net revenue in the quarter was up 15.2% to $117.1 million versus $101.7 million last year. This also beat Street consensus revenue estimates of $113.48 million. Looking ahead to Q2, Grand Canyon is now forecasting revenue of $113.5 million to $115.5 million and EPS of $0.26 to $0.27. This compares to previous guidance of net revenue of $112.5 million to $114.5 million and EPS of $0.24 to $0.26. Analysts current expect LOPE to report EPS of $0.25 on revenues of $113.73 million in the second-quarter. For the third-quarter, LOPE now forecasts net revenue of $120 million to $123 million and EPS of $0.30 to $0.32. Previously, the company forecast revenue of $120 million to $123 million and EPS of $0.30 to $0.32. In the fourth-quarter, Grand Canyon continues to forecast net revenue of $127 million to $130 million and EPS of $0.36 to $0.39. For the full year 2012, the company now forecasts net revenue of $478 million to $486 million and EPS of $1.24 to $1.30. Previously, the company forecast revenue of $472 million to $482 million and EPS of $1.16 to $1.24. Wall Street analysts currently expect the company to earn $1.21 per share on revenue of $477.53 million for the full year 2012. During Wednesday's trading session, LOPE shares have added around 12% to $17.91 after hitting a new 52-week high of $18.96 earlier in the session.