Cormark Analysts Raise Earnings Estimates for Cresco Labs Inc. (OTCMKTS:CRLBF)

Cresco Labs Inc. (OTCMKTS:CRLBF) – Equities research analysts at Cormark upped their FY2024 earnings per share (EPS) estimates for Cresco Labs in a note issued to investors on Tuesday, May 21st. Cormark analyst J. Pytlak now anticipates that the company will post earnings per share of $0.00 for the year, up from their previous forecast of ($0.05). The consensus estimate for Cresco Labs’ current full-year earnings is ($0.05) per share. Cormark also issued estimates for Cresco Labs’ FY2025 earnings at ($0.02) EPS.

A number of other analysts also recently commented on CRLBF. Needham & Company LLC reaffirmed a “hold” rating on shares of Cresco Labs in a research report on Thursday, May 16th. Wedbush raised their target price on Cresco Labs from $2.50 to $3.00 and gave the stock an “outperform” rating in a research report on Thursday, May 16th. Echelon Wealth Partners raised Cresco Labs from a “hold” rating to a “buy” rating in a research report on Wednesday, March 13th. Finally, Roth Mkm lifted their price objective on shares of Cresco Labs from $1.75 to $2.00 and gave the company a “neutral” rating in a research note on Thursday, March 14th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, Cresco Labs presently has a consensus rating of “Moderate Buy” and a consensus target price of $2.63.

Cresco Labs Stock Performance

Shares of CRLBF opened at $2.03 on Thursday. The company has a current ratio of 1.39, a quick ratio of 0.85 and a debt-to-equity ratio of 1.55. The company has a market capitalization of $701.61 million, a price-to-earnings ratio of -4.32 and a beta of 2.08. The stock has a 50 day moving average of $2.10 and a 200 day moving average of $1.86. Cresco Labs has a 12 month low of $1.00 and a 12 month high of $2.77.

Cresco Labs (OTCMKTS:CRLBF) last issued its quarterly earnings data on Wednesday, May 15th. The company reported ($0.02) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.02). The business had revenue of $184.30 million during the quarter, compared to the consensus estimate of $183.31 million. Cresco Labs had a negative net margin of 20.32% and a negative return on equity of 6.61%.

About Cresco Labs

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.