Analysts Set Expectations for Cresco Labs Inc.’s FY2024 Earnings (OTCMKTS:CRLBF)

Cresco Labs Inc. (OTCMKTS:CRLBF) – Stock analysts at Cormark raised their FY2024 earnings per share (EPS) estimates for Cresco Labs in a research report issued to clients and investors on Tuesday, May 21st. Cormark analyst J. Pytlak now expects that the company will post earnings per share of $0.00 for the year, up from their previous forecast of ($0.05). The consensus estimate for Cresco Labs’ current full-year earnings is ($0.04) per share. Cormark also issued estimates for Cresco Labs’ FY2025 earnings at ($0.02) EPS.

Cresco Labs (OTCMKTS:CRLBF) last issued its earnings results on Wednesday, May 15th. The company reported ($0.02) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.02). The firm had revenue of $184.30 million during the quarter, compared to analysts’ expectations of $183.31 million. Cresco Labs had a negative net margin of 20.32% and a negative return on equity of 6.78%.

Several other analysts have also commented on CRLBF. Needham & Company LLC restated a “hold” rating on shares of Cresco Labs in a research report on Thursday, May 16th. Roth Mkm lifted their target price on shares of Cresco Labs from $1.75 to $2.00 and gave the company a “neutral” rating in a research report on Thursday, March 14th. Wedbush lifted their price objective on Cresco Labs from $2.50 to $3.00 and gave the stock an “outperform” rating in a report on Thursday, May 16th. Finally, Echelon Wealth Partners upgraded Cresco Labs from a “hold” rating to a “buy” rating in a research report on Wednesday, March 13th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $2.63.

Cresco Labs Stock Up 1.4 %

Shares of CRLBF opened at $1.93 on Thursday. The company has a quick ratio of 0.85, a current ratio of 1.36 and a debt-to-equity ratio of 1.57. Cresco Labs has a 52 week low of $1.00 and a 52 week high of $2.77. The stock’s 50-day moving average price is $2.10 and its 200-day moving average price is $1.86. The company has a market capitalization of $659.93 million, a price-to-earnings ratio of -4.10 and a beta of 2.08.

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.