In the latest trading session, Riot Blockchain, Inc. (RIOT) closed at $33.45, marking a -8.66% move from the previous day. This change lagged the S&P 500's daily gain of 0.82%.
Heading into today, shares of the company had lost 24.29% over the past month, lagging the Business Services sector's gain of 0.91% and the S&P 500's gain of 2.31% in that time.
Wall Street will be looking for positivity from RIOT as it approaches its next earnings report date. In that report, analysts expect RIOT to post earnings of $0.20 per share. This would mark year-over-year growth of 266.67%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $24.3 million, up 916.74% from the year-ago period.
RIOT's full-year Zacks Consensus Estimates are calling for earnings of $1.95 per share and revenue of $205.3 million. These results would represent year-over-year changes of +622.22% and +1599.36%, respectively.
Investors should also note any recent changes to analyst estimates for RIOT. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. RIOT is currently a Zacks Rank #3 (Hold).
In terms of valuation, RIOT is currently trading at a Forward P/E ratio of 18.78. For comparison, its industry has an average Forward P/E of 30.9, which means RIOT is trading at a discount to the group.
The Technology Services industry is part of the Business Services sector. This industry currently has a Zacks Industry Rank of 158, which puts it in the bottom 38% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
To follow RIOT in the coming trading sessions, be sure to utilize Zacks.com.
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