Research Analysts Offer Predictions for Cresco Labs Inc.’s FY2022 Earnings (OTCMKTS:CRLBF)

Cresco Labs Inc. (OTCMKTS:CRLBF – Get Rating) – Stock analysts at Pi Financial raised their FY2022 EPS estimates for shares of Cresco Labs in a report released on Wednesday, August 3rd. Pi Financial analyst J. Zandberg now anticipates that the company will earn ($0.12) per share for the year, up from their prior forecast of ($0.13). Pi Financial has a “Buy” rating on the stock. The consensus estimate for Cresco Labs’ current full-year earnings is ($0.03) per share.

Cresco Labs (OTCMKTS:CRLBF – Get Rating) last issued its quarterly earnings results on Wednesday, May 18th. The company reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.10). The business had revenue of $214.39 million for the quarter, compared to analyst estimates of $210.71 million. Cresco Labs had a negative return on equity of 1.46% and a negative net margin of 37.03%.

A number of other equities research analysts have also recently weighed in on CRLBF. Alliance Global Partners lowered their price target on Cresco Labs from C$19.00 to C$15.00 in a report on Thursday, May 19th. Stifel Nicolaus lowered their target price on Cresco Labs from C$8.00 to C$5.00 in a report on Thursday, May 19th. Canaccord Genuity Group reduced their price target on Cresco Labs from C$12.00 to C$9.50 in a research note on Thursday, May 19th. Finally, Echelon Wealth Partners reissued a “buy” rating on shares of Cresco Labs in a research note on Wednesday, May 18th. Seven analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $15.58.

Cresco Labs Stock Performance

Shares of CRLBF stock opened at $3.51 on Friday. The company has a market cap of $948.95 million and a price-to-earnings ratio of -2.95. The stock has a 50 day simple moving average of $3.23 and a 200-day simple moving average of $4.85. Cresco Labs has a 12-month low of $2.42 and a 12-month high of $11.67. The company has a current ratio of 1.21, a quick ratio of 0.73 and a debt-to-equity ratio of 0.77.

Cresco Labs Company Profile

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Cresco Labs Inc, together with its subsidiaries, cultivates, manufactures, and sells retail and medical cannabis products in the United States. It provides cannabis in flowers, vape pens, live resins, disposable pens, and extracts under the Cresco brand; vape carts, vape pens, flower, popcorn, shake, pre-rolls, shorties, and concentrates under the High Supply brand; vapes and gummies under the Good News brand; vapes and edibles under the Wonder Wellness Co brand; and tinctures, capsules, salves, and sublingual oils under the Remedi brand, as well as cannabis products under the Reserve brand.

Further Reading

• Get a free copy of the StockNews.com research report on Cresco Labs (CRLBF)
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