Zacks: Brokerages Anticipate Aspen Aerogels, Inc. (NYSE:ASPN) Will Announce Earnings of -$0.26 Per Share

Wall Street brokerages forecast that Aspen Aerogels, Inc. (NYSE:ASPN) will post earnings per share of ($0.26) for the current quarter, Zacks reports. Six analysts have issued estimates for Aspen Aerogels’ earnings, with estimates ranging from ($0.27) to ($0.24). Aspen Aerogels posted earnings of ($0.25) per share in the same quarter last year, which would suggest a negative year-over-year growth rate of 4%. The firm is expected to report its next quarterly earnings report on Thursday, November 4th.

According to Zacks, analysts expect that Aspen Aerogels will report full year earnings of ($0.98) per share for the current fiscal year, with EPS estimates ranging from ($1.02) to ($0.95). For the next fiscal year, analysts anticipate that the firm will report earnings of ($0.72) per share, with EPS estimates ranging from ($0.82) to ($0.57). Zacks’ earnings per share calculations are an average based on a survey of sell-side analysts that cover Aspen Aerogels.

Aspen Aerogels (NYSE:ASPN) last released its quarterly earnings data on Wednesday, July 28th. The construction company reported ($0.23) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.27) by $0.04. The company had revenue of $31.67 million during the quarter, compared to the consensus estimate of $25.35 million. Aspen Aerogels had a negative net margin of 24.17% and a negative return on equity of 30.20%.

ASPN has been the topic of several research reports. Oppenheimer initiated coverage on shares of Aspen Aerogels in a research report on Monday, August 16th. They set an “outperform” rating and a $51.00 price objective on the stock. HC Wainwright upgraded shares of Aspen Aerogels from a “neutral” rating to a “buy” rating and set a $45.00 target price on the stock in a research report on Thursday, July 1st. Zacks Investment Research cut shares of Aspen Aerogels from a “buy” rating to a “hold” rating in a research report on Tuesday, August 3rd. Seaport Res Ptn reiterated a “buy” rating on shares of Aspen Aerogels in a research report on Thursday, July 15th. Finally, Canaccord Genuity lifted their target price on shares of Aspen Aerogels from $36.00 to $45.00 and gave the stock a “buy” rating in a research report on Friday, July 30th. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $46.23.

In other news, VP Kelley Conte sold 36,717 shares of Aspen Aerogels stock in a transaction dated Wednesday, August 25th. The shares were sold at an average price of $42.75, for a total transaction of $1,569,651.75. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 13.30% of the stock is currently owned by insiders.

A number of large investors have recently bought and sold shares of ASPN. Parametric Portfolio Associates LLC bought a new position in shares of Aspen Aerogels in the second quarter worth approximately $209,000. Bradley Foster & Sargent Inc. CT purchased a new stake in Aspen Aerogels during the second quarter valued at approximately $461,000. Invesco Ltd. purchased a new stake in Aspen Aerogels during the second quarter valued at approximately $2,584,000. Metropolitan Life Insurance Co NY increased its holdings in Aspen Aerogels by 102,050.0% during the second quarter. Metropolitan Life Insurance Co NY now owns 6,129 shares of the construction company’s stock valued at $183,000 after buying an additional 6,123 shares during the last quarter. Finally, Millennium Management LLC increased its holdings in Aspen Aerogels by 406.1% during the second quarter. Millennium Management LLC now owns 442,761 shares of the construction company’s stock valued at $13,247,000 after buying an additional 355,277 shares during the last quarter. 86.38% of the stock is currently owned by institutional investors and hedge funds.

NYSE:ASPN traded down $0.61 during trading hours on Thursday, hitting $45.98. The stock had a trading volume of 1,747 shares, compared to its average volume of 254,044. The company has a 50 day simple moving average of $40.66 and a two-hundred day simple moving average of $28.79. Aspen Aerogels has a one year low of $10.17 and a one year high of $47.29. The firm has a market capitalization of $1.51 billion, a price-to-earnings ratio of -50.10 and a beta of 1.50.

About Aspen Aerogels

Aspen Aerogels, Inc engages in designing, developing, and manufacturing aerogel insulation used primarily in the energy infrastructure and building materials markets. Its products include Cryogel, Pyrogel, and Spaceloft. The company was founded by Hamed S. Borhanian, Patrick J. Piper, and Kang P. Lee on May 4, 2001 and is headquartered in Northborough, MA.

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Earnings History and Estimates for Aspen Aerogels (NYSE:ASPN)

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