Zovio (NASDAQ:ZVO) Announces Earnings Results, Beats Estimates By $0.05 EPS

Zovio (NASDAQ:ZVOGet Rating) posted its quarterly earnings results on Friday. The company reported ($0.23) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.28) by $0.05, MarketWatch Earnings reports. Zovio had a negative return on equity of 15.05% and a negative net margin of 25.21%.

Shares of NASDAQ:ZVO traded up $0.02 during midday trading on Friday, hitting $0.70. 330,838 shares of the stock were exchanged, compared to its average volume of 249,336. The firm has a market cap of $23.42 million, a PE ratio of -0.30 and a beta of 1.08. The business’s 50-day simple moving average is $0.97. Zovio has a 12 month low of $0.66 and a 12 month high of $4.05.

Separately, Zacks Investment Research raised Zovio from a “strong sell” rating to a “hold” rating in a research note on Wednesday, December 29th.

A number of hedge funds have recently made changes to their positions in the stock. Virtu Financial LLC bought a new stake in Zovio in the fourth quarter valued at approximately $29,000. Royal Bank of Canada boosted its holdings in Zovio by 173.7% in the second quarter. Royal Bank of Canada now owns 31,745 shares of the company’s stock valued at $83,000 after acquiring an additional 20,146 shares during the last quarter. Finally, Morgan Stanley boosted its holdings in Zovio by 1,292.2% in the first quarter. Morgan Stanley now owns 23,611 shares of the company’s stock valued at $96,000 after acquiring an additional 21,915 shares during the last quarter. Institutional investors and hedge funds own 52.31% of the company’s stock.

Zovio Company Profile (Get Rating)

Zovio, Inc provides postsecondary education services. Through Ashford University and University of the RockiesSM, it offers online programs such as contemporary college experience. Its services also include mobile and other learning platform for students. The company was founded by Wayne Clugston and Andrew S.

See Also

Earnings History for Zovio (NASDAQ:ZVO)

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