LOPE Posts Robust Q4 Results On Strong Enrollment Growth, Margins

Analyst James Maher of ThinkEquity Partners maintains his "buy" rating on Grand Canyon Education Inc (NASDAQ: LOPE).

Grand Canyon Education reported solid 4Q09 results due to strong enrollment growth and improved operating margins. LOPE announced a change from monthly to daily revenue recognition, but confirmed FY10 guidance for continued strong enrollment and revenue growth with operating margin improvements.

“As it is only the timing, not the magnitude, of earnings that is changing, we do not consider the revenue recognition change significant to investors… We think LOPE can continue to attract new students in what we believe is a very favorable climate for new enrollment,” the analyst adds.

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