Brokerages Anticipate Cronos Group Inc. (NASDAQ:CRON) Will Post Earnings of -$0.07 Per Share

Equities analysts predict that Cronos Group Inc. (NASDAQ:CRON) will report earnings per share of ($0.07) for the current fiscal quarter, according to Zacks Investment Research. Five analysts have made estimates for Cronos Group’s earnings. The highest EPS estimate is ($0.05) and the lowest is ($0.10). Cronos Group posted earnings per share of ($0.19) during the same quarter last year, which would indicate a positive year over year growth rate of 63.2%. The firm is scheduled to announce its next quarterly earnings report on Thursday, August 5th.

On average, analysts expect that Cronos Group will report full-year earnings of ($0.73) per share for the current year, with EPS estimates ranging from ($0.76) to ($0.69). For the next fiscal year, analysts expect that the firm will report earnings of ($0.21) per share, with EPS estimates ranging from ($0.42) to ($0.03). Zacks’ earnings per share calculations are an average based on a survey of research firms that follow Cronos Group.

Cronos Group (NASDAQ:CRON) last posted its quarterly earnings data on Thursday, May 6th. The company reported ($0.44) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.09) by ($0.35). The business had revenue of $14.60 million during the quarter, compared to the consensus estimate of $22.19 million. Cronos Group had a negative net margin of 610.02% and a negative return on equity of 11.39%. The business’s revenue for the quarter was up 57.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.20 EPS.

Several equities analysts have recently commented on the stock. Raymond James set a $11.00 target price on shares of Cronos Group and gave the company an “outperform” rating in a research report on Tuesday, June 15th. Bank of America began coverage on shares of Cronos Group in a research report on Wednesday, April 28th. They set an “underperform” rating for the company. Zacks Investment Research cut shares of Cronos Group from a “hold” rating to a “strong sell” rating in a research report on Tuesday, July 13th. Finally, TheStreet cut shares of Cronos Group from a “c” rating to a “d+” rating in a research report on Tuesday, May 25th. Four research analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the stock. Cronos Group has an average rating of “Hold” and a consensus target price of $9.00.

Several hedge funds have recently made changes to their positions in CRON. Mirae Asset Global Investments Co. Ltd. increased its holdings in Cronos Group by 205.2% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,270,639 shares of the company’s stock worth $12,010,000 after buying an additional 854,262 shares during the last quarter. Morgan Stanley increased its holdings in Cronos Group by 128.9% during the first quarter. Morgan Stanley now owns 1,252,895 shares of the company’s stock worth $11,853,000 after buying an additional 705,640 shares during the last quarter. Penserra Capital Management LLC boosted its position in Cronos Group by 300.5% during the first quarter. Penserra Capital Management LLC now owns 685,093 shares of the company’s stock worth $6,480,000 after purchasing an additional 514,033 shares during the period. Vontobel Holding Ltd. bought a new position in Cronos Group during the fourth quarter worth about $1,785,000. Finally, TD Asset Management Inc. boosted its position in Cronos Group by 23.9% during the first quarter. TD Asset Management Inc. now owns 1,193,301 shares of the company’s stock worth $11,279,000 after purchasing an additional 230,077 shares during the period. Institutional investors own 13.00% of the company’s stock.

Shares of NASDAQ:CRON traded down $0.14 during midday trading on Thursday, hitting $7.29. The stock had a trading volume of 37,448 shares, compared to its average volume of 1,689,759. The stock has a 50-day moving average price of $8.20. The company has a market capitalization of $2.71 billion, a P/E ratio of -8.33 and a beta of 1.78. The company has a quick ratio of 4.21, a current ratio of 4.36 and a debt-to-equity ratio of 0.01. Cronos Group has a fifty-two week low of $4.91 and a fifty-two week high of $15.83.

About Cronos Group

Cronos Group Inc operates as a cannabinoid company. It manufactures, markets, and distributes hemp-derived supplements and cosmetic products through e-commerce, retail, and hospitality partner channels under the Lord Jones and Happy Dance brands in the United States. The company is also involved in the cultivation, manufacture, and marketing of cannabis and cannabis-derived products for the medical and adult-use markets.

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Earnings History and Estimates for Cronos Group (NASDAQ:CRON)

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