Q3 2024 Earnings Estimate for Hut 8 Corp. Issued By HC Wainwright (TSE:HUT)

Hut 8 Corp. (TSE:HUT) – Equities researchers at HC Wainwright reduced their Q3 2024 EPS estimates for shares of Hut 8 in a research report issued on Wednesday, August 14th. HC Wainwright analyst M. Colonnese now anticipates that the company will post earnings per share of ($0.36) for the quarter, down from their prior forecast of ($0.14). HC Wainwright currently has a “Strong-Buy” rating on the stock. The consensus estimate for Hut 8’s current full-year earnings is ($0.52) per share. HC Wainwright also issued estimates for Hut 8’s Q4 2024 earnings at ($0.33) EPS and FY2024 earnings at ($0.70) EPS.

Separately, Craig Hallum raised Hut 8 from a “hold” rating to a “strong-buy” rating in a research report on Thursday, May 16th.

Hut 8 Price Performance

TSE:HUT opened at C$15.79 on Friday. The firm has a market capitalization of C$1.43 billion, a price-to-earnings ratio of -14.62 and a beta of 3.45. The company has a debt-to-equity ratio of 29.52, a current ratio of 0.31 and a quick ratio of 1.26. The business has a 50 day simple moving average of C$19.72 and a 200-day simple moving average of C$14.55. Hut 8 has a 1 year low of C$8.35 and a 1 year high of C$28.87.

Hut 8 (TSE:HUT) last released its quarterly earnings results on Wednesday, May 15th. The company reported C($0.23) EPS for the quarter, missing the consensus estimate of C($0.08) by C($0.15). Hut 8 had a negative return on equity of 122.68% and a net margin of 156.36%. The company had revenue of C$69.75 million during the quarter, compared to analysts’ expectations of C$72.44 million.

Hut 8 Company Profile

Hut 8 Corp., together with its subsidiaries, acquires, builds, manages, and operates data centers for digital assets mining, computing, and artificial intelligence in the United States. It operates in four segments: Digital Assets Mining, Managed Services, High Performance Computing Colocation and Cloud, and Other.