KushCo (KSHB) Releases Quarterly Earnings Results, Misses Expectations By $0.06 EPS

KushCo (OTCMKTS:KSHB) issued its quarterly earnings results on Tuesday. The company reported ($0.10) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.06), Briefing.com reports. KushCo had a negative return on equity of 15.98% and a negative net margin of 19.58%. The business had revenue of $25.32 million during the quarter, compared to analysts’ expectations of $18.76 million. The company’s revenue for the quarter was up 186.2% compared to the same quarter last year.

Shares of OTCMKTS KSHB opened at $6.18 on Thursday. The firm has a market cap of $455.56 million and a price-to-earnings ratio of -38.63. KushCo has a 12-month low of $3.76 and a 12-month high of $8.51.

Several research analysts recently issued reports on the company. Northland Securities assumed coverage on KushCo in a research note on Wednesday, October 10th. They issued an “outperform” rating and a $8.75 price objective on the stock. Canaccord Genuity assumed coverage on KushCo in a research note on Tuesday, December 4th. They issued a “speculative buy” rating and a $7.50 price objective on the stock. ValuEngine raised KushCo from a “hold” rating to a “buy” rating in a research note on Saturday, December 15th. Finally, Zacks Investment Research cut KushCo from a “hold” rating to a “sell” rating in a research report on Tuesday, January 1st.

In other news, Chairman Nicholas Kovacevich sold 200,000 shares of the stock in a transaction on Wednesday, January 9th. The stock was sold at an average price of $6.04, for a total transaction of $1,208,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Dallas Imbimbo sold 65,000 shares of the stock in a transaction on Thursday, October 18th. The shares were sold at an average price of $5.91, for a total value of $384,150.00. The disclosure for this sale can be found here. 29.50% of the stock is currently owned by company insiders.

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About KushCo

KushCo Holdings, Inc primarily engages in the wholesale distribution of packaging supplies in the United States, Canada, Europe, and internationally. The company offers pop-top bottles; child resistant exit, paper exit, and foil barrier bags; tubes; and polystyrene, silicone-lined polystyrene or glass containers.

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