Grand Canyon Education Shares Popped: What You Need to Know
Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: I can't believe my eyes. As the sky is falling, Grand Canyon Education's (NAS: LOPE) shares are actually climbing 13% higher today.
So what: During the second quarter, revenue was $103.1 million, just short of the $104.6 million analysts had expected. Earnings per share reached $0.29, which crushed the $0.23 analysts had expected.
Now what: An earnings beat is always welcome news, but when it seems like there's nothing but negativity around us, it's especially surprising. Education providers have been under pressure as rules have changed about the way they receive and account for federal aid. So far, Grand Canyon is handling the changes well and is getting a welcome reward from the market today.
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At the time this article was published Fool contributor Travis Hoium does not have a position in any company mentioned. You can follow Travis on Twitter at @FlushDrawFool, check out his personal stock holdings or follow his CAPS picks at TMFFlushDraw.Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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