Zacks: Brokerages Anticipate Cronos Group Inc. (NASDAQ:CRON) to Post -$0.09 Earnings Per Share

Brokerages expect Cronos Group Inc. (NASDAQ:CRONGet Rating) to announce earnings per share (EPS) of ($0.09) for the current fiscal quarter, according to Zacks Investment Research. Four analysts have made estimates for Cronos Group’s earnings. The lowest EPS estimate is ($0.14) and the highest is ($0.06). Cronos Group posted earnings of ($0.12) per share in the same quarter last year, which suggests a positive year over year growth rate of 25%. The business is expected to issue its next quarterly earnings report on Monday, January 1st.

According to Zacks, analysts expect that Cronos Group will report full-year earnings of ($0.30) per share for the current year, with EPS estimates ranging from ($0.55) to ($0.03). For the next fiscal year, analysts forecast that the firm will post earnings of ($0.26) per share, with EPS estimates ranging from ($0.36) to ($0.16). Zacks’ earnings per share calculations are a mean average based on a survey of sell-side analysts that cover Cronos Group.

Cronos Group (NASDAQ:CRONGet Rating) last announced its quarterly earnings data on Tuesday, March 1st. The company reported ($0.36) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.10) by ($0.26). Cronos Group had a negative net margin of 214.92% and a negative return on equity of 16.44%. The business had revenue of $25.80 million for the quarter, compared to analysts’ expectations of $30.40 million. During the same period in the prior year, the company posted ($0.19) EPS. The firm’s revenue was up 50.9% on a year-over-year basis.

Several research firms have weighed in on CRON. Jefferies Financial Group upgraded shares of Cronos Group from an “underperform” rating to a “hold” rating and decreased their target price for the company from $5.54 to $3.24 in a report on Thursday, January 27th. Canaccord Genuity Group decreased their target price on shares of Cronos Group from C$7.00 to C$4.25 and set a “sell” rating on the stock in a report on Tuesday, February 22nd. Canaccord Genuity Group decreased their target price on shares of Cronos Group from $7.00 to $4.25 and set a “sell” rating on the stock in a report on Tuesday, February 22nd. Raymond James set a $5.00 target price on shares of Cronos Group and gave the company an “outperform” rating in a report on Wednesday, March 2nd. Finally, Stifel Nicolaus decreased their target price on shares of Cronos Group from $6.50 to $4.00 in a report on Tuesday, February 22nd. Four analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $4.55.

NASDAQ CRON traded up $0.06 during trading hours on Tuesday, hitting $3.32. 33,540 shares of the company’s stock traded hands, compared to its average volume of 2,340,157. The company has a debt-to-equity ratio of 0.01, a current ratio of 19.86 and a quick ratio of 19.25. The company has a market capitalization of $1.24 billion, a PE ratio of -7.52 and a beta of 1.61. The firm’s 50-day moving average is $3.58 and its 200-day moving average is $4.25. Cronos Group has a 52-week low of $2.95 and a 52-week high of $9.42.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Spire Wealth Management grew its position in shares of Cronos Group by 198.2% in the 4th quarter. Spire Wealth Management now owns 6,304 shares of the company’s stock valued at $25,000 after buying an additional 4,190 shares during the last quarter. CWM LLC acquired a new stake in Cronos Group during the 4th quarter worth $27,000. Oxford Financial Group Ltd. acquired a new stake in Cronos Group during the 3rd quarter worth $57,000. Capital Investment Counsel Inc acquired a new stake in Cronos Group during the 4th quarter worth $40,000. Finally, Cetera Investment Advisers acquired a new stake in Cronos Group during the 4th quarter worth $50,000. 12.45% of the stock is currently owned by hedge funds and other institutional investors.

Cronos Group Company Profile (Get Rating)

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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