OrganiGram (CVE:OGI) posted its quarterly earnings data on Monday. The company reported C($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.04 by C($0.09), Morningstar.com reports. The firm had revenue of C$26.93 million during the quarter, compared to analyst estimates of C$26.27 million.
CVE:OGI opened at C$8.55 on Wednesday. The stock has a market capitalization of $1.09 billion and a P/E ratio of 23.05. OrganiGram has a one year low of C$3.78 and a one year high of C$10.03. The company has a debt-to-equity ratio of 42.38, a current ratio of 14.53 and a quick ratio of 7.00.
Several brokerages recently weighed in on OGI. Canaccord Genuity increased their target price on OrganiGram from C$8.50 to C$10.50 in a research report on Tuesday. Cormark increased their target price on OrganiGram from C$5.50 to C$8.50 in a research report on Tuesday, January 29th. Pi Financial raised their target price on OrganiGram from C$8.00 to C$10.00 in a research note on Tuesday, January 29th. Finally, Jefferies Financial Group set a C$10.00 target price on OrganiGram and gave the company a “buy” rating in a research note on Monday, February 25th.
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OrganiGram Holdings Inc, through its subsidiaries, produces and sells dried cannabis and cannabis oil in Canada. It also offers wholesale shipping of cannabis plant cuttings, dried flowers, blends, pre-rolls, and cannabis oils to retailers and wholesalers. The company also exports its products. It sells its products online, as well as through phone orders.
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