Cormark Has Pessimistic View of Cresco Labs FY2024 Earnings

Cresco Labs Inc. (OTCMKTS:CRLBF) – Equities researchers at Cormark lowered their FY2024 earnings per share (EPS) estimates for shares of Cresco Labs in a research report issued on Monday, November 11th. Cormark analyst J. Pytlak now expects that the company will post earnings of ($0.21) per share for the year, down from their prior forecast of ($0.17). The consensus estimate for Cresco Labs’ current full-year earnings is ($0.19) per share. Cormark also issued estimates for Cresco Labs’ FY2025 earnings at $0.03 EPS.

A number of other brokerages have also issued reports on CRLBF. Roth Capital raised shares of Cresco Labs to a “strong-buy” rating in a report on Sunday. Needham & Company LLC reiterated a “hold” rating on shares of Cresco Labs in a report on Monday, August 12th. Finally, Ventum Cap Mkts upgraded shares of Cresco Labs to a “strong-buy” rating in a report on Friday, August 9th. Two investment analysts have rated the stock with a hold rating, two have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $2.50.

Cresco Labs Stock Up 14.3 %

CRLBF opened at $1.44 on Thursday. The company has a market cap of $702.92 million, a P/E ratio of -7.20 and a beta of 1.88. Cresco Labs has a 12 month low of $1.02 and a 12 month high of $2.65. The company has a current ratio of 2.00, a quick ratio of 1.30 and a debt-to-equity ratio of 1.76. The business’s 50-day moving average price is $1.58 and its 200-day moving average price is $1.71.

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.