Laureate Education Inc . (NASDAQ:LAUR) stock has reached a new 52-week high, touching $18.93 in recent trading. This milestone reflects a significant uptrend for the company, which has seen an impressive 47.5% increase in its stock price over the past year. Investors have shown growing confidence in the education services provider, propelling the stock to new heights amidst a market that has been challenging for many sectors. The 52-week high serves as a testament to Laureate Education's robust performance and potential for continued growth in the educational industry.
In other recent news, Laureate Education, Inc. has reported a strong Q3 performance, leading to an upward revision in its outlook for 2024. The company's Q3 revenue stood at $369 million while its adjusted EBITDA was $91 million, surpassing initial projections. Key drivers include a 12% surge in new enrollments in Peru and a 4% growth in Mexico. Consequently, Laureate Education has increased its 2024 revenue and adjusted EBITDA outlook by $50 million and $6 million, respectively. The firm also announced a new $100 million stock repurchase program. It is important to note these are recent developments. Total (EPA:TTEF) enrollments for the year are expected to reach around 470,000. The company projects a 5% revenue growth for 2024 and expects its adjusted EBITDA to increase by 7% to 8%.
InvestingPro Insights
Laureate Education's recent achievement of a new 52-week high is further supported by InvestingPro data and insights. The stock's strong performance is reflected in its impressive returns, with InvestingPro data showing a 19.59% price total return over the past month and a 49.74% return over the last year. This aligns with the article's mention of the 47.5% increase in stock price over the past year.
InvestingPro Tips highlight that LAUR is trading near its 52-week high, corroborating the article's main point. Additionally, the company's profitability is emphasized, with InvestingPro noting that LAUR has been profitable over the last twelve months and analysts predict continued profitability this year.
For investors seeking more comprehensive analysis, InvestingPro offers 11 additional tips for Laureate Education, providing a deeper understanding of the company's financial health and market position.
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