Perdoceo Education Co. (PRDO) To Go Ex-Dividend on December 2nd

Perdoceo Education Co. (NASDAQ:PRDO) announced a quarterly dividend on Tuesday, November 12th,Wall Street Journal reports. Investors of record on Monday, December 2nd will be paid a dividend of 0.13 per share on Friday, December 13th. This represents a $0.52 annualized dividend and a dividend yield of 1.89%. The ex-dividend date is Monday, December 2nd.

Perdoceo Education has a payout ratio of 22.9% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Perdoceo Education to earn $2.36 per share next year, which means the company should continue to be able to cover its $0.52 annual dividend with an expected future payout ratio of 22.0%.

Perdoceo Education Price Performance

Shares of NASDAQ PRDO opened at $27.45 on Friday. The firm has a market capitalization of $1.80 billion, a PE ratio of 13.79, a P/E/G ratio of 0.81 and a beta of 1.04. Perdoceo Education has a 1-year low of $16.12 and a 1-year high of $29.47. The business’s fifty day moving average price is $23.34 and its two-hundred day moving average price is $22.71.

Perdoceo Education (NASDAQ:PRDO) last released its quarterly earnings data on Tuesday, November 12th. The company reported $0.59 earnings per share for the quarter, topping analysts’ consensus estimates of $0.53 by $0.06. The business had revenue of $169.83 million for the quarter, compared to analysts’ expectations of $164.60 million. Perdoceo Education had a net margin of 20.42% and a return on equity of 15.58%. The company’s revenue for the quarter was down 5.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.64 EPS. Equities research analysts expect that Perdoceo Education will post 2.27 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently issued reports on PRDO. Barrington Research increased their price objective on Perdoceo Education from $30.00 to $32.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. StockNews.com lowered Perdoceo Education from a “strong-buy” rating to a “buy” rating in a research report on Saturday.

Insider Buying and Selling at Perdoceo Education

In other news, Director Patrick W. Gross sold 3,400 shares of the business’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $26.74, for a total value of $90,916.00. Following the sale, the director now owns 69,635 shares of the company’s stock, valued at approximately $1,862,039.90. The trade was a 4.66 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Michele A. Peppers sold 6,476 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $21.00, for a total value of $135,996.00. Following the transaction, the insider now directly owns 61,952 shares of the company’s stock, valued at $1,300,992. This represents a 9.46 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 40,450 shares of company stock valued at $1,036,206. Company insiders own 1.81% of the company’s stock.

About Perdoceo Education

Perdoceo Education Corporation provides postsecondary education through online, campus-based, and blended learning programs in the United States. It operates in two segments, Colorado Technical University and The American InterContinental University System. The Colorado Technical University segment offers academic programs, such as business and management, nursing, healthcare management, computer science, engineering, information systems and technology, project management, cybersecurity, and criminal justice.