Echelon Wealth Partners Analysts Reduce Earnings Estimates for Cresco Labs Inc. (OTCMKTS:CRLBF)

Cresco Labs Inc. (OTCMKTS:CRLBFGet Rating) – Equities researchers at Echelon Wealth Partners lowered their Q4 2022 EPS estimates for Cresco Labs in a report issued on Wednesday, November 16th. Echelon Wealth Partners analyst A. Semple now forecasts that the company will earn ($0.02) per share for the quarter, down from their prior estimate of ($0.01). The consensus estimate for Cresco Labs’ current full-year earnings is ($0.11) per share.

A number of other analysts have also issued reports on the stock. Canaccord Genuity Group reduced their price target on shares of Cresco Labs from C$9.50 to C$8.00 in a research report on Thursday, August 18th. BTIG Research reissued a “buy” rating on shares of Cresco Labs in a research report on Friday, October 28th. Cantor Fitzgerald reduced their price target on shares of Cresco Labs from $19.00 to $15.00 and set an “overweight” rating for the company in a research report on Thursday, August 18th. Piper Sandler reduced their price target on shares of Cresco Labs from $9.00 to $6.00 and set an “overweight” rating for the company in a research report on Thursday, August 18th. Finally, Alliance Global Partners reduced their price target on shares of Cresco Labs from C$15.00 to C$10.00 in a research report on Wednesday, August 17th. Seven investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $13.33.

Cresco Labs Price Performance

OTCMKTS CRLBF opened at $3.28 on Monday. The company has a 50 day simple moving average of $3.17 and a 200-day simple moving average of $3.40. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.38 and a quick ratio of 0.68. The firm has a market capitalization of $885.71 million and a price-to-earnings ratio of -13.12. Cresco Labs has a 52-week low of $2.39 and a 52-week high of $9.32.

Cresco Labs (OTCMKTS:CRLBFGet Rating) last posted its quarterly earnings results on Thursday, August 18th. The company reported ($0.05) earnings per share (EPS) for the quarter. The company had revenue of $218.23 million during the quarter, compared to analysts’ expectations of $218.43 million. Cresco Labs had a negative return on equity of 6.46% and a negative net margin of 7.60%.

About Cresco Labs

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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.

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Earnings History and Estimates for Cresco Labs (OTCMKTS:CRLBF)

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