Zacks: Analysts Anticipate Zovio Inc (NASDAQ:ZVO) Will Announce Earnings of -$0.03 Per Share

Brokerages expect that Zovio Inc (NASDAQ:ZVO) will announce earnings of ($0.03) per share for the current quarter, Zacks reports. Two analysts have made estimates for Zovio’s earnings. Zovio posted earnings of $0.09 per share in the same quarter last year, which suggests a negative year over year growth rate of 133.3%. The business is scheduled to report its next quarterly earnings results on Wednesday, October 27th.

According to Zacks, analysts expect that Zovio will report full-year earnings of ($0.18) per share for the current fiscal year. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side analysts that cover Zovio.

Zovio (NASDAQ:ZVO) last posted its earnings results on Wednesday, July 28th. The company reported ($0.02) EPS for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.04. The firm had revenue of $69.19 million during the quarter, compared to analysts’ expectations of $67.50 million. Zovio had a negative net margin of 20.40% and a negative return on equity of 0.38%.

ZVO has been the subject of a number of research reports. Northland Securities initiated coverage on shares of Zovio in a report on Friday, July 23rd. They issued a “buy” rating and a $7.50 target price for the company. Zacks Investment Research raised Zovio from a “hold” rating to a “strong-buy” rating and set a $2.75 price objective for the company in a research note on Thursday, August 5th. Finally, Barrington Research reaffirmed a “buy” rating and issued a $5.00 price objective on shares of Zovio in a research note on Thursday, July 29th.

Shares of ZVO stock traded down $0.03 on Friday, reaching $2.41. The company had a trading volume of 59,699 shares, compared to its average volume of 302,739. The stock has a market capitalization of $80.54 million, a PE ratio of -1.13 and a beta of 1.36. Zovio has a one year low of $2.02 and a one year high of $7.34. The business’s 50-day moving average is $2.46 and its 200 day moving average is $3.04.

A number of large investors have recently added to or reduced their stakes in ZVO. BlackRock Inc. increased its position in Zovio by 1.7% during the 1st quarter. BlackRock Inc. now owns 475,778 shares of the company’s stock valued at $1,931,000 after purchasing an additional 7,894 shares during the period. Royce & Associates LP acquired a new stake in Zovio during the 1st quarter valued at approximately $3,193,000. HighTower Advisors LLC acquired a new stake in Zovio during the 1st quarter valued at approximately $298,000. Pacific Ridge Capital Partners LLC grew its position in shares of Zovio by 27.1% during the 1st quarter. Pacific Ridge Capital Partners LLC now owns 814,605 shares of the company’s stock worth $3,307,000 after buying an additional 173,695 shares during the period. Finally, Millrace Asset Group Inc. acquired a new stake in shares of Zovio during the 1st quarter worth approximately $1,654,000. 49.43% of the stock is owned by institutional investors and hedge funds.

Zovio Company Profile

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.

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Earnings History and Estimates for Zovio (NASDAQ:ZVO)

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