Higher education company Perdoceo Education (NASDAQ:PRDO) will be reporting earnings this Thursday after market close. Here’s what to expect.
Perdoceo Education beat analysts’ revenue expectations by 2.4% last quarter, reporting revenues of $213 million, up 26.6% year on year. It was a strong quarter for the company, with EPS guidance for next quarter exceeding analysts’ expectations and full-year EPS guidance topping analysts’ expectations.
Is Perdoceo Education a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Perdoceo Education’s revenue to grow 24.1% year on year to $206.9 million, a reversal from the 10.6% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.65 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Perdoceo Education has a history of exceeding Wall Street’s expectations, beating revenue estimates every single time over the past two years by 4.4% on average.
Looking at Perdoceo Education’s peers in the consumer discretionary segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Hasbro’s revenues decreased 1.5% year on year, beating analysts’ expectations by 11.2%, and Red Rock Resorts reported revenues up 8.2%, topping estimates by 8.4%. Hasbro traded down 3.3% following the results.
Read our full analysis of Hasbro’s results here and Red Rock Resorts’s results here.
There has been positive sentiment among investors in the consumer discretionary segment, with share prices up 7.5% on average over the last month. Perdoceo Education is down 12.6% during the same time and is heading into earnings with an average analyst price target of $40 (compared to the current share price of $28.56).
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