Cresco Labs Inc. (OTCMKTS:CRLBF – Valuation Received) – Echelon Wealth Partners analysts forecast fourth quarter 2023 earnings for Cresco Labs shares in a memo issued to investors on Wednesday, May 24. has been lowered. Echelon Wealth Partners analyst A. Semple now expects the company to post earnings per share of $0.04 this quarter, down from its previous forecast of $0.03. Echelon Wealth Partners has a Hold rating on the stock. Cresco Labs’ current consensus forecast for full-year earnings is he’s ($0.12) per share.
Several other research analysts have also published reports on stock prices. In a report on Monday, February 27, Piper Sandler downgraded Cresco Labs’ stock from an ‘overweight’ rating to a ‘neutral’ rating. Cantor Fitzgerald reiterated his Overweight rating in a research note on Friday, Feb. 24, setting a $14.25 price target on Cresco Labs shares. On Friday, March 17, Ross Capital downgraded its shares in Cresco Labs from ‘buy’ to ‘neutral’ in a research note. Finally, Stifel Nicolaus lowered his price target on Cresco Labs shares from his C$2.75 to C$2.50 in a research note on Friday, March 17. Five equity research analysts have issued hold ratings on the company’s stock, and four have issued buy ratings. MarketBeat.com data shows the stock has an average rating of Hold and a consensus price target of $6.82.
Cresco Labs stock down 9.1%
Shares of Cresco Labs opened at $1.70 on Monday. The company has a 50-day moving average of $1.55 and a 200-day moving average of $2.00. The company has a quick ratio of 0.68, a current ratio of 1.16 and a debt to equity ratio of 1.06. The stock has a market cap of $459.05 million, a P/E of -2.39 and a beta of 2.76. Cresco Labs hit a 12-month low of $1.30 and a 12-month high of $4.45.
Cresco Labs (OTCMKTS:CRLBF – Get Rating) last reported earnings on Tuesday, March 21st. The company reported earnings per share ($0.03) for the quarter, but ($0.01) below analyst consensus expectations ($0.02). The company’s revenue for the quarter was $199.58 million, compared to consensus expectations of $204.47 million. Cresco Labs’ return on equity was negative 8.03% and net profit margin was negative 25.62%.
About Cresco Labs
Cresco Labs Inc, along with its subsidiaries, grows, manufactures and markets retail and medical cannabis products in the United States. The company offers cannabis in flowers, vape pens, live resins, disposable pens, and extracts under the Cresco brand. High Supply branded vaping carts, vaping pens, flours, popcorn, shakes, pre-rolls, shorties and concentrates. Good News brand e-cigarettes and gummies. Wonder Wellness Co brand e-cigarettes and food. Remedi brand tinctures, capsules, ointments, sublingual oils and Reserve brand cannabis products.
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