Ventum Cap Mkts Forecasts Reduced Earnings for Cresco Labs

Cresco Labs Inc. (OTCMKTS:CRLBF - Free Report) - Ventum Cap Mkts lowered their FY2024 earnings per share estimates for Cresco Labs in a research note issued on Monday, November 11th. Ventum Cap Mkts analyst A. Semple now expects that the company will earn ($0.17) per share for the year, down from their previous estimate of ($0.16). Ventum Cap Mkts has a "Strong-Buy" rating on the stock. The consensus estimate for Cresco Labs' current full-year earnings is ($0.19) per share. Ventum Cap Mkts also issued estimates for Cresco Labs' FY2025 earnings at ($0.08) EPS.

Other research analysts have also recently issued reports about the company. Needham & Company LLC reaffirmed a "hold" rating on shares of Cresco Labs in a research report on Monday, August 12th. Roth Capital raised shares of Cresco Labs to a "strong-buy" rating in a report on Sunday. Finally, Cormark cut shares of Cresco Labs from a "moderate buy" rating to a "hold" rating in a report on Monday. Three analysts have rated the stock with a hold rating, two have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $2.50.

Cresco Labs Stock Up 14.3 %

Shares of OTCMKTS CRLBF traded up $0.18 during mid-day trading on Thursday, hitting $1.44. The company had a trading volume of 919,928 shares, compared to its average volume of 752,714. Cresco Labs has a 1-year low of $1.02 and a 1-year high of $2.65. The company has a market capitalization of $702.92 million, a PE ratio of -7.20 and a beta of 1.88. The company has a debt-to-equity ratio of 1.76, a current ratio of 2.00 and a quick ratio of 1.30. The business's 50-day simple moving average is $1.58 and its 200 day simple moving average is $1.70.

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.