HC Wainwright Lowers Earnings Forecast for IREN Limited to $0.18

HC Wainwright has revised its earnings per share (EPS) estimates for IREN Limited (NASDAQ:IREN) for the first quarter of 2026, lowering the projection from $0.19 to $0.18. This adjustment was made public in a report released on October 29, 2023, by analyst M. Colonnese. The firm currently maintains a “Sell” rating on the stock and has set a target price of $45.00.

For the full year 2026, the consensus estimate for IREN’s earnings stands at $0.43 per share. Looking ahead, HC Wainwright has also projected IREN’s quarterly earnings for the subsequent periods: $0.17 for Q2, $0.26 for Q3, and $0.33 for Q4 of 2026. Additionally, they forecast $0.34 and $0.35 for Q1 and Q2 of 2027 respectively, culminating in a full-year estimate of $1.31 for 2027.

Previous Earnings Report and Analyst Sentiment

IREN Limited recently reported its earnings on August 28, 2023, revealing an EPS of $0.19 for the quarter, surpassing the consensus expectation of $0.17 by $0.02. The company generated revenue of $187.30 million during this period, slightly below the anticipated $187.51 million. IREN achieved a net margin of 33.03% and a return on equity of 1.34%.

Market analysts have varied opinions on IREN’s stock. On October 22, 2023, Macquarie raised its price target to $86.00 and assigned an “outperform” rating. Arete began coverage on September 24, 2023, issuing a “buy” rating with a price target of $78.00. Roth Capital reaffirmed a “buy” rating with a target of $35.00 on August 29, 2023, while Compass Point also initiated coverage with a “buy” rating. Meanwhile, Wall Street Zen adjusted its rating from “sell” to “hold” on July 12, 2023.

Overall, ten analysts have rated IREN with a “buy” recommendation, while three have a “hold” rating and three have issued “sell” ratings. According to MarketBeat, the average rating is classified as “hold,” with an average target price of $55.27.

Market Performance and Insider Activity

As of Thursday, shares of IREN opened at $58.22, reflecting a decrease of 3.6%. The company has a market capitalization of $15.83 billion and a price-to-earnings (P/E) ratio of 98.68. IREN’s stock has fluctuated significantly, with a 52-week low of $5.13 and a high of $74.15.

In recent insider trading news, CEO Daniel John Roberts sold 1,000,000 shares of the company on September 11, 2023, at an average price of $33.13, totaling approximately $33.13 million. Following this transaction, Roberts retained 13,989,696 shares, valued at around $463.48 million, representing a 6.67% reduction in his ownership.

Institutional investors have recently adjusted their stakes in IREN. For instance, Vontobel Holding Ltd. increased its holdings by 36.0% during the first quarter, now owning 76,080 shares valued at $463,000. Similarly, Sippican Capital Advisors raised its stake by 47.4%, bringing its total to 18,840 shares valued at $115,000.

IREN Limited, formerly known as Iris Energy Limited, operates bitcoin mining data centers and is headquartered in Sydney, Australia. The company was incorporated in 2018 and has since expanded its operations significantly in the cryptocurrency mining sector.