In the latest trading session, Riot Blockchain, Inc. (RIOT) closed at $25.85, marking a -0.42% move from the previous day. This move lagged the S&P 500’s daily gain of 1.52%.
Prior to today’s trading, shares of the company had lost 17.77% over the past month. This has lagged the Business Services sector’s loss of 16.18% and the S&P 500’s gain of 2.41% in that time.
RIOT will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $0.05, up 116.13% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $29.1 million, up 1400% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $0.76 per share and revenue of $174.05 million, which would represent changes of +181.48% and +1340.69%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for RIOT. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company’s business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 0.65% lower within the past month. RIOT currently has a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that RIOT has a Forward P/E ratio of 34.16 right now. This valuation marks a premium compared to its industry’s average Forward P/E of 30.73.
The Technology Services industry is part of the Business Services sector. This industry currently has a Zacks Industry Rank of 179, which puts it in the bottom 30% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.