Verano (OTCMKTS:VRNOF) Posts Earnings Results, Beats Expectations By $0.07 EPS

Verano (OTCMKTS:VRNOF) posted its earnings results on Wednesday. The company reported ($0.01) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.07, reports. The company had revenue of $221.31 million during the quarter, compared to the consensus estimate of $215.71 million. Verano had a negative net margin of 12.50% and a negative return on equity of 4.49%.

Verano Stock Performance

OTCMKTS:VRNOF opened at $5.06 on Friday. The stock has a market capitalization of $1.74 billion, a P/E ratio of -14.41 and a beta of 1.49. Verano has a fifty-two week low of $2.53 and a fifty-two week high of $7.08. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.62 and a current ratio of 0.96. The company has a 50 day moving average price of $5.26 and a 200 day moving average price of $4.95.

Analyst Ratings Changes

Separately, Needham & Company LLC restated a “buy” rating and set a $7.00 target price on shares of Verano in a research report on Wednesday.

Verano Company Profile

Verano Holdings Corp. operates as a vertically integrated multi-state cannabis operator in the United States. The company engages in the cultivation, processing, wholesale, and retail distribution of cannabis in Arizona, Arkansas, Connecticut, Florida, Illinois, Maryland, Massachusetts, Michigan, Nevada, New Jersey, Ohio, Pennsylvania, and West Virginia.