Zacks: Brokerages Expect Aspen Group, Inc. (NASDAQ:ASPU) Will Post Quarterly Sales of $18.94 Million

Wall Street brokerages predict that Aspen Group, Inc. (NASDAQ:ASPUGet Rating) will announce sales of $18.94 million for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for Aspen Group’s earnings. The lowest sales estimate is $18.70 million and the highest is $19.18 million. Aspen Group reported sales of $19.10 million in the same quarter last year, which would suggest a negative year-over-year growth rate of 0.8%. The firm is expected to issue its next quarterly earnings results on Monday, January 1st.

On average, analysts expect that Aspen Group will report full year sales of $76.25 million for the current financial year, with estimates ranging from $76.00 million to $76.50 million. For the next financial year, analysts anticipate that the firm will report sales of $79.75 million, with estimates ranging from $77.80 million to $81.69 million. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that follow Aspen Group.

Aspen Group (NASDAQ:ASPUGet Rating) last released its earnings results on Tuesday, March 15th. The technology company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.04). The business had revenue of $18.95 million for the quarter, compared to analyst estimates of $18.91 million. Aspen Group had a negative net margin of 12.79% and a negative return on equity of 20.30%. During the same quarter in the previous year, the company posted ($0.11) earnings per share.

A number of brokerages have recently commented on ASPU. B. Riley lowered their price target on Aspen Group from $6.00 to $3.00 and set a “buy” rating for the company in a research note on Thursday, March 10th. Zacks Investment Research raised Aspen Group from a “sell” rating to a “hold” rating in a research note on Tuesday. Canaccord Genuity Group cut Aspen Group from a “buy” rating to a “hold” rating in a research note on Friday, February 11th. Finally, Canaccord Genuity Group lowered their price target on Aspen Group from $7.00 to $2.00 and set a “hold” rating for the company in a research note on Friday, February 11th. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $6.93.

Shares of ASPU stock traded up $0.01 on Friday, reaching $0.94. The company had a trading volume of 35,295 shares, compared to its average volume of 197,398. The stock has a market cap of $23.73 million, a PE ratio of -2.48 and a beta of 1.15. The company has a 50-day moving average of $1.09 and a 200-day moving average of $1.99. Aspen Group has a 12 month low of $0.75 and a 12 month high of $7.49.

Several institutional investors and hedge funds have recently modified their holdings of ASPU. Royal Bank of Canada grew its stake in shares of Aspen Group by 193.3% during the 2nd quarter. Royal Bank of Canada now owns 3,913 shares of the technology company’s stock worth $26,000 after acquiring an additional 2,579 shares in the last quarter. Citadel Advisors LLC acquired a new stake in shares of Aspen Group in the 2nd quarter valued at approximately $280,000. BlackRock Inc. boosted its holdings in shares of Aspen Group by 20.1% in the 3rd quarter. BlackRock Inc. now owns 259,359 shares of the technology company’s stock valued at $1,444,000 after buying an additional 43,476 shares during the last quarter. O Brien Greene & Co. Inc boosted its holdings in shares of Aspen Group by 2.2% in the 3rd quarter. O Brien Greene & Co. Inc now owns 230,200 shares of the technology company’s stock valued at $1,282,000 after buying an additional 5,000 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of Aspen Group by 2.9% in the 3rd quarter. Geode Capital Management LLC now owns 188,174 shares of the technology company’s stock valued at $1,048,000 after buying an additional 5,262 shares during the last quarter. 57.35% of the stock is owned by institutional investors.

Aspen Group Company Profile (Get Rating)

Aspen Group, Inc, an education technology company, provides online higher education services in the United States. The company offers certificate programs; and bachelor's, master's, and doctoral degree programs in a range of areas, including nursing and health sciences, business and technology, arts and sciences, and education.

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