Q3 2020 EPS Estimates for HEXO Corp. Reduced by Analyst (NASDAQ:HEXO)

HEXO Corp. (NASDAQ:HEXO) – Research analysts at Seaport Global Securities reduced their Q3 2020 EPS estimates for HEXO in a research note issued to investors on Tuesday, June 11th. Seaport Global Securities analyst B. Hundley now forecasts that the company will earn $0.02 per share for the quarter, down from their previous estimate of $0.07. Seaport Global Securities currently has a “Buy” rating and a $12.00 target price on the stock. Seaport Global Securities also issued estimates for HEXO’s Q4 2020 earnings at $0.02 EPS.

HEXO (NASDAQ:HEXO) last released its quarterly earnings results on Wednesday, March 13th. The company reported ($0.02) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.04) by $0.02. The firm had revenue of $10.09 million during the quarter, compared to the consensus estimate of $10.01 million.

Several other equities research analysts also recently issued reports on the stock. Beacon Securities restated a “buy” rating on shares of HEXO in a research note on Tuesday, February 19th. Bank of America assumed coverage on shares of HEXO in a research note on Wednesday, April 17th. They set a “buy” rating on the stock. CIBC assumed coverage on shares of HEXO in a research note on Tuesday, February 19th. They set an “outperform” rating and a $7.00 price target on the stock. Jefferies Financial Group assumed coverage on shares of HEXO in a research note on Monday, February 25th. They set an “underperform” rating on the stock. Finally, Oppenheimer began coverage on shares of HEXO in a research note on Tuesday, February 19th. They set an “outperform” rating and a $7.00 price target on the stock. One analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating to the stock. HEXO presently has an average rating of “Buy” and an average price target of $8.29.

Shares of HEXO stock opened at $6.45 on Thursday. HEXO has a 1 year low of $3.02 and a 1 year high of $8.40.

Large investors have recently made changes to their positions in the business. Mycio Wealth Partners LLC purchased a new position in shares of HEXO during the first quarter valued at approximately $343,000. Strategic Financial Services Inc purchased a new stake in shares of HEXO in the first quarter valued at approximately $66,000. Oppenheimer & Co. Inc. purchased a new stake in shares of HEXO in the first quarter valued at approximately $104,000. Creative Planning purchased a new stake in shares of HEXO in the first quarter valued at approximately $167,000. Finally, Bank of Montreal Can purchased a new stake in shares of HEXO in the first quarter valued at approximately $3,439,000.

HEXO Company Profile

HEXO Corp., through its subsidiary, HEXO Operations Inc, produces, markets, and sells cannabis in Canada. The company offers dried cannabis under the Time of Day and H2 lines; Elixir, a cannabis oil sublingual mist product line; and Decarb, an activated fine-milled cannabis powder product. It provides its products under the HEXO and Hydropothecary brand names.

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Earnings History and Estimates for HEXO (NASDAQ:HEXO)

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