Marathon Digital Holdings, Inc. (NASDAQ:MARA) Expected to Announce Earnings of $0.52 Per Share

Analysts expect Marathon Digital Holdings, Inc. (NASDAQ:MARA) to report $0.52 earnings per share (EPS) for the current quarter, according to Zacks. Two analysts have issued estimates for Marathon Digital’s earnings, with the highest EPS estimate coming in at $0.75 and the lowest estimate coming in at $0.29. Marathon Digital reported earnings per share of ($0.06) in the same quarter last year, which indicates a positive year over year growth rate of 966.7%. The company is scheduled to announce its next quarterly earnings results on Thursday, November 11th.

On average, analysts expect that Marathon Digital will report full-year earnings of $1.03 per share for the current fiscal year, with EPS estimates ranging from $0.42 to $1.63. For the next fiscal year, analysts expect that the business will report earnings of $4.65 per share, with EPS estimates ranging from $2.58 to $6.72. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research analysts that follow Marathon Digital.

Marathon Digital (NASDAQ:MARA) last released its quarterly earnings data on Thursday, August 12th. The business services provider reported ($1.09) earnings per share for the quarter, missing the consensus estimate of $0.16 by ($1.25). Marathon Digital had a negative net margin of 78.08% and a negative return on equity of 2.25%.

A number of research firms have recently weighed in on MARA. Compass Point initiated coverage on Marathon Digital in a research note on Monday, June 21st. They issued a “buy” rating and a $40.00 price target on the stock. B. Riley increased their target price on Marathon Digital from $54.00 to $87.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, Zacks Investment Research downgraded shares of Marathon Digital from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 1st.

NASDAQ:MARA traded up $1.71 during trading hours on Friday, hitting $36.39. 143,266 shares of the stock were exchanged, compared to its average volume of 20,968,816. The company’s 50 day moving average is $32.34 and its two-hundred day moving average is $33.03. Marathon Digital has a twelve month low of $1.48 and a twelve month high of $57.75. The company has a market capitalization of $3.63 billion, a P/E ratio of -91.26 and a beta of 4.54.

A number of hedge funds have recently added to or reduced their stakes in MARA. Newbridge Financial Services Group Inc. increased its stake in Marathon Digital by 145.0% in the second quarter. Newbridge Financial Services Group Inc. now owns 2,450 shares of the business services provider’s stock valued at $77,000 after purchasing an additional 1,450 shares in the last quarter. Parametric Portfolio Associates LLC bought a new stake in Marathon Digital in the second quarter valued at $1,006,000. Advisor Resource Council bought a new stake in Marathon Digital in the second quarter valued at $3,418,000. Wells Fargo & Company MN increased its stake in Marathon Digital by 56.3% in the second quarter. Wells Fargo & Company MN now owns 1,307 shares of the business services provider’s stock valued at $41,000 after purchasing an additional 471 shares in the last quarter. Finally, Metropolitan Life Insurance Co NY bought a new stake in shares of Marathon Digital during the second quarter worth about $820,000. Institutional investors and hedge funds own 35.44% of the company’s stock.

About Marathon Digital

Marathon Digital Holdings, Inc is a digital asset technology company, which engages in mining cryptocurrencies, with a focus on the blockchain ecosystem and the generation of digital assets. The company was founded on February 23, 2010 and is headquartered in Las Vegas, NV.

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