Zacks: Analysts Anticipate Aspen Group, Inc. (NASDAQ:ASPU) Will Announce Quarterly Sales of $18.94 Million

Equities analysts predict that Aspen Group, Inc. (NASDAQ:ASPU – Get Rating) will announce $18.94 million in sales for the current fiscal quarter, Zacks reports. Two analysts have made estimates for Aspen Group’s earnings. The highest sales estimate is $19.18 million and the lowest is $18.70 million. Aspen Group reported sales of $19.10 million in the same quarter last year, which indicates a negative year-over-year growth rate of 0.8%. The company is expected to report its next 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 company will report sales of $79.75 million, with estimates ranging from $77.80 million to $81.69 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that that provide coverage for Aspen Group.

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

A number of equities research analysts have commented on the company. Zacks Investment Research cut Aspen Group from a “hold” rating to a “sell” rating in a report on Tuesday, March 1st. Canaccord Genuity Group decreased their price target on Aspen Group from $7.00 to $2.00 and set a “hold” rating on the stock in a report on Friday, February 11th. B. Riley decreased their price target on Aspen Group from $6.00 to $3.00 and set a “buy” rating on the stock in a report on Thursday, March 10th. Finally, Canaccord Genuity Group cut Aspen Group from a “buy” rating to a “hold” rating in a report on Friday, February 11th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $6.93.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Royal Bank of Canada grew its position in Aspen Group by 193.3% in the second 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. O Brien Greene & Co. Inc grew its position in Aspen Group by 2.2% in the third quarter. O Brien Greene & Co. Inc now owns 230,200 shares of the technology company’s stock worth $1,282,000 after acquiring an additional 5,000 shares in the last quarter. Geode Capital Management LLC grew its position in Aspen Group by 2.9% in the third quarter. Geode Capital Management LLC now owns 188,174 shares of the technology company’s stock worth $1,048,000 after acquiring an additional 5,262 shares in the last quarter. Formula Growth Ltd. boosted its position in shares of Aspen Group by 10.0% during the third quarter. Formula Growth Ltd. now owns 110,000 shares of the technology company’s stock valued at $613,000 after buying an additional 10,000 shares during the period. Finally, Laidlaw Wealth Management LLC boosted its position in shares of Aspen Group by 1.4% during the fourth quarter. Laidlaw Wealth Management LLC now owns 803,966 shares of the technology company’s stock valued at $1,897,000 after buying an additional 11,345 shares during the period. Institutional investors own 47.78% of the company’s stock.

Shares of Aspen Group stock opened at $0.90 on Friday. Aspen Group has a one year low of $0.88 and a one year high of $7.49. The stock’s fifty day moving average is $1.21 and its 200 day moving average is $2.60. The stock has a market cap of $22.67 million, a P/E ratio of -2.37 and a beta of 0.87.

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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