Wall Street brokerages expect Canaan Inc. (NASDAQ:CAN – Get Rating) to announce earnings of $0.40 per share for the current quarter, Zacks reports. Zero analysts have made estimates for Canaan’s earnings. Canaan reported earnings of $0.13 per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 207.7%. The business is scheduled to report its next quarterly earnings report before the market opens on Monday, January 1st.
According to Zacks, analysts expect that Canaan will report full year earnings of $2.60 per share for the current year. For the next financial year, analysts forecast that the company will post earnings of $3.15 per share. Zacks’ earnings per share averages are an average based on a survey of sell-side analysts that cover Canaan.
Canaan (NASDAQ:CAN – Get Rating) last issued its quarterly earnings data on Thursday, March 3rd. The company reported $1.05 earnings per share (EPS) for the quarter. The firm had revenue of $342.80 million during the quarter. Canaan had a return on equity of 86.99% and a net margin of 38.44%.
Institutional investors and hedge funds have recently modified their holdings of the company. New York State Common Retirement Fund acquired a new position in Canaan during the 1st quarter valued at approximately $32,000. Itau Unibanco Holding S.A. acquired a new position in Canaan during the 4th quarter valued at approximately $40,000. UBS Group AG boosted its position in Canaan by 130.1% during the 3rd quarter. UBS Group AG now owns 6,565 shares of the company’s stock valued at $41,000 after purchasing an additional 28,387 shares during the period. Raymond James Financial Services Advisors Inc. acquired a new position in Canaan during the 1st quarter valued at approximately $55,000. Finally, AdvisorNet Financial Inc boosted its position in Canaan by 990.0% during the 4th quarter. AdvisorNet Financial Inc now owns 10,900 shares of the company’s stock valued at $56,000 after purchasing an additional 9,900 shares during the period. Institutional investors own 13.77% of the company’s stock.
CAN stock traded up $0.22 during midday trading on Friday, hitting $3.08. 4,108,909 shares of the stock were exchanged, compared to its average volume of 4,514,433. The stock’s 50-day moving average price is $4.59 and its 200-day moving average price is $5.68. The stock has a market cap of $487.10 million, a price-to-earnings ratio of 1.81 and a beta of 3.95. Canaan has a fifty-two week low of $2.56 and a fifty-two week high of $11.50.
Canaan Company Profile (Get Rating)
Canaan Inc engages in the research, design, and sale of integrated circuit (IC) final system products by integrating IC products for bitcoin mining and related components primarily in the People's Republic of China. It is also involved in the assembly of system products; and supply chain and distribution of system products.
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