FY2024 EPS Estimates for Cresco Labs Inc. Reduced by Alliance Global Partners (OTCMKTS:CRLBF)

Cresco Labs Inc. (OTCMKTS:CRLBF) – Investment analysts at Alliance Global Partners lowered their FY2024 earnings estimates for shares of Cresco Labs in a research report issued on Thursday, August 8th. Alliance Global Partners analyst A. Grey now anticipates that the company will post earnings per share of ($0.16) for the year, down from their previous estimate of ($0.03). The consensus estimate for Cresco Labs’ current full-year earnings is ($0.03) per share. Alliance Global Partners also issued estimates for Cresco Labs’ FY2025 earnings at $0.00 EPS.

CRLBF has been the topic of a number of other research reports. Roth Capital raised Cresco Labs from a “hold” rating to a “strong-buy” rating in a research report on Friday, August 9th. Wedbush increased their price objective on shares of Cresco Labs from $2.50 to $3.00 and gave the stock an “outperform” rating in a research note on Thursday, May 16th. Ventum Cap Mkts raised shares of Cresco Labs to a “strong-buy” rating in a report on Friday, August 9th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Cresco Labs in a report on Monday. Two research analysts have rated the stock with a hold rating, three have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $2.63.

Cresco Labs Trading Up 1.9 %

CRLBF stock opened at $1.76 on Monday. The company’s 50-day simple moving average is $1.64 and its 200 day simple moving average is $1.88. Cresco Labs has a 52 week low of $1.00 and a 52 week high of $2.77. The company has a market capitalization of $859.13 million, a PE ratio of -3.67 and a beta of 1.86. The company has a debt-to-equity ratio of 1.57, a quick ratio of 0.89 and a current ratio of 1.36.

Cresco Labs (OTCMKTS:CRLBF) last issued its quarterly earnings data on Thursday, August 8th. The company reported ($0.16) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.15). Cresco Labs had a negative return on equity of 6.78% and a negative net margin of 20.32%. The firm had revenue of $184.36 million for the quarter, compared to the consensus estimate of $184.26 million.

Cresco Labs Company Profile

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.