Cresco Labs (OTCMKTS:CRLBF) Releases Earnings Results, Hits Expectations

Cresco Labs (OTCMKTS:CRLBF) released its earnings results on Friday. The company reported ($0.01) EPS for the quarter, hitting analysts’ consensus estimates of ($0.01), Zacks reports. The business had revenue of $176.00 million during the quarter, compared to analysts’ expectations of $172.10 million. Cresco Labs had a negative net margin of 9.15% and a negative return on equity of 16.52%.

Cresco Labs Trading Up 6.6 %

Shares of CRLBF opened at $0.75 on Friday. The company has a current ratio of 1.97, a quick ratio of 1.39 and a debt-to-equity ratio of 1.80. The firm has a 50-day moving average price of $0.89 and a 200 day moving average price of $1.20. Cresco Labs has a 12-month low of $0.70 and a 12-month high of $2.60. The firm has a market capitalization of $364.25 million, a P/E ratio of -3.73 and a beta of 1.79.

Wall Street Analysts Forecast Growth

Separately, Atb Cap Markets cut shares of Cresco Labs from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 9th. Three equities research analysts have rated the stock with a hold rating, one has issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $3.00.

Cresco Labs Company Profile

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.