Canaan (NASDAQ:CAN) is set to give its latest quarterly earnings report on Tuesday, 2023-08-29. Here’s what investors need to know before the announcement.
Analysts estimate that Canaan will report an earnings per share (EPS) of $-0.12.
Canaan bulls will hope to hear the company announce they’ve not only beaten that estimate, but also to provide positive guidance, or forecasted growth, for the next quarter.
New investors should note that it is sometimes not an earnings beat or miss that most affects the price of a stock, but the guidance (or forecast).
Past Earnings Performance
Last quarter the company missed EPS by $0.22, which was followed by a 0.0% drop in the share price the next day.
Here’s a look at Canaan’s past performance and the resulting price change:
| Quarter | Q1 2023 | Q4 2022 | Q3 2022 | Q2 2022 |
|---|---|---|---|---|
| EPS Estimate | -0.21 | -0.15 | 0.07 | 0.35 |
| EPS Actual | -0.43 | -0.30 | 0.14 | 0.60 |
| Price Change % | -26.74% | -3.83% | 6.08% | -6.6% |
Stock Performance
Shares of Canaan were trading at $2.04 as of August 25. Over the last 52-week period, shares are down 41.64%. Given that these returns are generally negative, long-term shareholders are likely a little upset going into this earnings release.
To track all earnings releases for Canaan visit their earnings calendar on our site.
This article was generated by Benzinga’s automated content engine and reviewed by an editor.
