Canaan Earnings Preview
Portfolio Pulse from Benzinga Insights
Canaan Inc. (NASDAQ:CAN) is scheduled to release its quarterly earnings report on Tuesday, 2023-11-28. Analysts predict an EPS of $-0.26. Investors are looking for an earnings beat and positive guidance for the next quarter. Historically, Canaan's stock price has been sensitive to earnings performance and guidance. Last quarter, Canaan missed EPS estimates by $0.47, resulting in a 5.63% share price drop the following day. Over the past year, Canaan's shares have declined by 29.58%, indicating a bearish sentiment among long-term shareholders.
November 27, 2023 | 2:01 pm
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Canaan Inc. is anticipated to report a quarterly EPS of $-0.26. Investors are focused on potential earnings beats and forward guidance. Past earnings misses have led to significant stock price declines.
Given Canaan's history of stock price declines following earnings misses and the overall bearish sentiment reflected by the 29.58% decrease over the past year, there is a higher likelihood of a negative short-term impact on the stock price if the company fails to meet or exceed the EPS estimate or provides weak guidance.
CONFIDENCE 80
IMPORTANCE 90
RELEVANCE 100