Perdoceo Education Co. (NASDAQ:PRDO) Announces Quarterly Dividend of $0.13

Perdoceo Education Co. (NASDAQ:PRDO) declared a quarterly dividend on Thursday, November 14th,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 yield of 1.96%. The ex-dividend date of this dividend is Monday, December 2nd.

Perdoceo Education has a dividend payout ratio of 23.1% indicating that its dividend is sufficiently covered by earnings. Research 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 $26.55 on Friday. The company has a 50-day simple moving average of $22.27 and a 200-day simple moving average of $22.41. The company has a market cap of $1.74 billion, a PE ratio of 13.34, a price-to-earnings-growth ratio of 0.82 and a beta of 1.04. Perdoceo Education has a 12 month low of $16.12 and a 12 month high of $29.47.

Perdoceo Education (NASDAQ:PRDO) last released its earnings results on Tuesday, November 12th. The company reported $0.59 EPS for the quarter, topping the consensus estimate of $0.53 by $0.06. Perdoceo Education had a net margin of 20.42% and a return on equity of 15.58%. The firm had revenue of $169.83 million during the quarter, compared to analysts’ expectations of $164.60 million. During the same period in the previous year, the company earned $0.64 EPS. Perdoceo Education’s revenue for the quarter was down 5.6% on a year-over-year basis. On average, analysts anticipate that Perdoceo Education will post 2.27 EPS for the current year.

Insider Activity at Perdoceo Education

In other news, insider Michele A. Peppers sold 6,476 shares of the company’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 sale, the insider now owns 61,952 shares in the company, valued at approximately $1,300,992. This represents a 9.46 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 1.81% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on PRDO. StockNews.com raised Perdoceo Education from a “buy” rating to a “strong-buy” rating in a research note on Thursday. Barrington Research boosted their target price on shares of Perdoceo Education from $30.00 to $32.00 and gave the company an “outperform” rating in a report on Wednesday.

Perdoceo Education Company Profile

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.