Wall Street analysts predict that Cronos Group Inc (NASDAQ:CRON) will report $8.45 million in sales for the current fiscal quarter, according to Zacks Investment Research. Four analysts have issued estimates for Cronos Group’s earnings, with the highest sales estimate coming in at $10.80 million and the lowest estimate coming in at $6.00 million. Cronos Group reported sales of $7.65 million in the same quarter last year, which indicates a positive year-over-year growth rate of 10.5%. The business is expected to report its next quarterly earnings report on Thursday, August 13th.
According to Zacks, analysts expect that Cronos Group will report full-year sales of $43.92 million for the current fiscal year, with estimates ranging from $34.80 million to $50.60 million. For the next year, analysts forecast that the company will report sales of $109.40 million, with estimates ranging from $83.30 million to $174.00 million. Zacks’ sales averages are an average based on a survey of analysts that that provide coverage for Cronos Group.
Cronos Group (NASDAQ:CRON) last issued its earnings results on Friday, May 8th. The company reported $0.20 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.27. Cronos Group had a net margin of 2,705.97% and a return on equity of 0.72%. The firm had revenue of $8.40 million for the quarter, compared to analyst estimates of $13.05 million. During the same quarter last year, the business posted $0.48 earnings per share. The company’s quarterly revenue was up 29.2% on a year-over-year basis.
A number of equities analysts have recently commented on CRON shares. Stifel Nicolaus cut their price target on shares of Cronos Group from $8.00 to $7.50 and set a “hold” rating on the stock in a report on Monday, May 11th. Zacks Investment Research upgraded shares of Cronos Group from a “sell” rating to a “hold” rating and set a $5.50 target price on the stock in a report on Monday, May 11th. Raymond James set a $6.50 target price on shares of Cronos Group and gave the company a “market perform” rating in a report on Friday. Piper Sandler lowered shares of Cronos Group from an “overweight” rating to a “neutral” rating in a report on Sunday, April 19th. Finally, Canaccord Genuity restated a “sell” rating and issued a $6.50 target price on shares of Cronos Group in a report on Monday, May 11th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $9.05.
Shares of NASDAQ:CRON opened at $6.70 on Friday. The firm has a market cap of $1.93 billion, a PE ratio of 7.28 and a beta of 1.91. The firm’s fifty day moving average is $5.73 and its 200-day moving average is $6.60. The company has a debt-to-equity ratio of 0.01, a quick ratio of 6.75 and a current ratio of 6.97. Cronos Group has a 52 week low of $4.00 and a 52 week high of $17.86.
A number of institutional investors and hedge funds have recently bought and sold shares of CRON. APG Asset Management N.V. bought a new stake in shares of Cronos Group during the first quarter worth about $448,000. Valinor Management L.P. increased its position in shares of Cronos Group by 62.1% during the first quarter. Valinor Management L.P. now owns 469,322 shares of the company’s stock worth $2,661,000 after acquiring an additional 179,722 shares in the last quarter. Voloridge Investment Management LLC increased its position in shares of Cronos Group by 74.7% during the first quarter. Voloridge Investment Management LLC now owns 169,571 shares of the company’s stock worth $961,000 after acquiring an additional 72,517 shares in the last quarter. Advisor Group Holdings Inc. bought a new stake in shares of Cronos Group during the first quarter worth about $1,405,000. Finally, CIBC World Markets Inc. increased its position in shares of Cronos Group by 40.2% during the first quarter. CIBC World Markets Inc. now owns 28,837 shares of the company’s stock worth $164,000 after acquiring an additional 8,275 shares in the last quarter. 14.39% of the stock is owned by hedge funds and other institutional investors.
About Cronos Group
Cronos Group Inc, formerly known as PharmaCan Capital Corp., is a principal investment firm. The firm seeks to invest in companies either licensed, or actively seeking a license, to produce medical marijuana pursuant to Canada's Marihuana for Medical Purposes Regulations MMPR. The firm typically invests in companies based in Canada.
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