Marathon Digital Holdings, Inc. (NASDAQ:MARA) Expected to Announce Earnings of $0.90 Per Share

Wall Street analysts expect Marathon Digital Holdings, Inc. (NASDAQ:MARA) to announce $0.90 earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for Marathon Digital’s earnings, with the lowest EPS estimate coming in at $0.67 and the highest estimate coming in at $1.12. Marathon Digital posted earnings per share of ($0.07) during the same quarter last year, which indicates a positive year over year growth rate of 1,385.7%. The firm is expected to issue its next earnings results on Tuesday, March 15th.

On average, analysts expect that Marathon Digital will report full year earnings of $0.22 per share for the current year. For the next financial year, analysts anticipate that the company will post earnings of $5.34 per share, with EPS estimates ranging from $4.64 to $6.72. Zacks Investment Research’s earnings per share averages are an average based on a survey of research firms that cover Marathon Digital.

Marathon Digital (NASDAQ:MARA) last issued its quarterly earnings data on Wednesday, November 10th. The business services provider reported ($0.22) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.43 by ($0.65). Marathon Digital had a negative net margin of 57.03% and a positive return on equity of 14.02%.

Several equities analysts have recently commented on MARA shares. B. Riley raised their price target on Marathon Digital from $87.00 to $92.00 and gave the company a “buy” rating in a research note on Thursday, November 11th. DA Davidson began coverage on Marathon Digital in a report on Thursday, October 14th. They issued a “buy” rating and a $65.00 price target for the company. Finally, Zacks Investment Research raised Marathon Digital from a “hold” rating to a “strong-buy” rating and set a $64.00 price target for the company in a report on Thursday, November 18th. Four investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $62.20.

MARA stock traded up $0.27 during midday trading on Thursday, reaching $52.39. The company’s stock had a trading volume of 8,045,657 shares, compared to its average volume of 19,087,869. The stock has a fifty day simple moving average of $49.03 and a two-hundred day simple moving average of $36.44. Marathon Digital has a 1 year low of $4.03 and a 1 year high of $83.45. The firm has a market capitalization of $5.38 billion, a price-to-earnings ratio of -97.02 and a beta of 4.66.

Several institutional investors have recently added to or reduced their stakes in MARA. LPL Financial LLC raised its position in Marathon Digital by 9.7% during the second quarter. LPL Financial LLC now owns 108,228 shares of the business services provider’s stock valued at $3,395,000 after acquiring an additional 9,614 shares in the last quarter. WINTON GROUP Ltd purchased a new stake in shares of Marathon Digital in the second quarter valued at approximately $2,065,000. State Street Corp increased its position in shares of Marathon Digital by 1,782.6% in the second quarter. State Street Corp now owns 2,246,983 shares of the business services provider’s stock valued at $70,488,000 after buying an additional 2,127,625 shares in the last quarter. Bronson Point Management LLC purchased a new stake in shares of Marathon Digital in the second quarter valued at approximately $5,333,000. Finally, HighTower Advisors LLC increased its position in shares of Marathon Digital by 36.5% in the second quarter. HighTower Advisors LLC now owns 37,082 shares of the business services provider’s stock valued at $1,162,000 after buying an additional 9,911 shares in the last quarter. 40.94% of the stock is owned by hedge funds and other institutional investors.

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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Earnings History and Estimates for Marathon Digital (NASDAQ:MARA)

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