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Zacks' 7 Best Strong Buy Stocks (New Research Report)
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predicting the 7 stocks that will soar highest in the coming month.
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Valued at $99, click below to receive our just-released report
predicting the 7 stocks that will soar highest in the coming month.
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Is a Beat in the Cards for Hut 8 Mining (HUT) in Q3 Earnings?
Hut 8 Mining Corp. (HUT - Free Report) is scheduled to release third-quarter 2021 results on Nov 11, before market opens.
Let’s check out the expectations in detail.
Q3 Expectations
The Zacks Consensus Estimate for revenues is pegged at $39.34 million, indicating 44.4% growth sequentially. The top line is likely to have benefited from contributions from the company’s self-mining operations and expanded hosting services. An uptick in the number of self-mined Bitcoins is likely to have acted as a major tailwind.
The Zacks Consensus Estimate for earnings per share is projected at 11 cents, indicating sequential growth of more than 100%. The bottom line is likely to have been aided by the expansion of Hut 8's operations and improvement in Bitcoin mining economics.
What Our Model Says
Our proven model predicts an earnings beat for Hut 8 Mining this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. You can uncover the best stocks to buy or sell before they're reported with our Earnings ESP Filter.
Hut 8 Mining has an Earnings ESP of +12.50% and a Zacks Rank #3.
Hut 8 Mining Corp. Price and EPS Surprise
Hut 8 Mining Corp. price-eps-surprise | Hut 8 Mining Corp. Quote
Other Stocks to Consider
Here are a few otherstocks from the broader Zacks Business Services sector that investors may consider, as our model shows that these too have the right combination of elements to beat on their respective earnings:
Opendoor Technologies (OPEN - Free Report) has an Earnings ESP of +38.89% and a Zacks Rank #2.You can see the complete list of today’s Zacks #1 Rank stocks here.
SoFi Technologies (SOFI - Free Report) has an Earnings ESP of +64.71% and a Zacks Rank #3.
Affirm (AFRM - Free Report) has an Earnings ESP of +39.50% and a Zacks Rank #3.