Brokerages Anticipate Argo Blockchain plc (NASDAQ:ARBK) to Announce $0.43 Earnings Per Share

Wall Street brokerages predict that Argo Blockchain plc (NASDAQ:ARBK – Get Rating) will announce $0.43 earnings per share for the current fiscal quarter, according to Zacks Investment Research. Three analysts have issued estimates for Argo Blockchain’s earnings, with the lowest EPS estimate coming in at $0.36 and the highest estimate coming in at $0.48. The company is scheduled to report its next quarterly earnings report on Monday, January 1st.

On average, analysts expect that Argo Blockchain will report full year earnings of $1.32 per share for the current financial year, with EPS estimates ranging from $1.15 to $1.62. For the next year, analysts expect that the business will report earnings of $1.76 per share, with EPS estimates ranging from $1.48 to $2.07. Zacks’ earnings per share averages are a mean average based on a survey of sell-side analysts that cover Argo Blockchain.

ARBK has been the subject of several recent research reports. Compass Point boosted their price objective on Argo Blockchain from $21.00 to $25.00 and gave the company a “buy” rating in a research report on Tuesday, March 8th. Barclays decreased their target price on Argo Blockchain from $22.00 to $15.00 and set an “overweight” rating for the company in a report on Monday, March 14th. Stifel Nicolaus started coverage on Argo Blockchain in a report on Friday. They set a “hold” rating and a $11.00 target price for the company. Finally, Zacks Investment Research downgraded Argo Blockchain from a “hold” rating to a “sell” rating in a report on Wednesday, February 9th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $20.86.

A number of institutional investors and hedge funds have recently bought and sold shares of ARBK. Kestra Advisory Services LLC bought a new position in Argo Blockchain in the fourth quarter worth $141,000. Renaissance Technologies LLC bought a new position in Argo Blockchain in the fourth quarter worth $148,000. Connective Portfolio Management LLC bought a new position in Argo Blockchain in the fourth quarter worth $159,000. Schonfeld Strategic Advisors LLC bought a new position in Argo Blockchain in the third quarter worth $287,000. Finally, Morgan Stanley purchased a new stake in shares of Argo Blockchain in the third quarter worth $421,000. Institutional investors and hedge funds own 4.34% of the company’s stock.

Shares of ARBK stock opened at $9.92 on Friday. Argo Blockchain has a fifty-two week low of $7.25 and a fifty-two week high of $21.00. The company has a 50 day moving average of $9.38.

About Argo Blockchain (Get Rating)

Argo Blockchain plc, together with its subsidiaries, engages in the bitcoin and other cryptocurrencies mining business worldwide. The company was formerly known as GoSun Blockchain Limited and changed its name to Argo Blockchain plc in December 2017. Argo Blockchain plc was incorporated in 2017 and is headquartered in London, the United Kingdom.

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