Brokerages Expect Cronos Group Inc (NASDAQ:CRON) to Announce -$0.03 EPS

Share on StockTwits

Wall Street analysts expect Cronos Group Inc (NASDAQ:CRON) to report earnings per share (EPS) of ($0.03) for the current fiscal quarter, Zacks reports. Four analysts have provided estimates for Cronos Group’s earnings, with the lowest EPS estimate coming in at ($0.06) and the highest estimate coming in at $0.00. Cronos Group also posted earnings per share of ($0.03) in the same quarter last year. The company is scheduled to report its next quarterly earnings results on Tuesday, November 12th.

According to Zacks, analysts expect that Cronos Group will report full year earnings of ($0.07) per share for the current year, with EPS estimates ranging from ($0.10) to ($0.05). For the next fiscal year, analysts anticipate that the firm will report earnings of ($0.09) per share, with EPS estimates ranging from ($0.32) to $0.07. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side research analysts that follow Cronos Group.

Cronos Group (NASDAQ:CRON) last posted its earnings results on Thursday, August 8th. The company reported ($0.01) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.02) by $0.01. Cronos Group had a return on equity of 60.20% and a net margin of 2,521.25%. The firm had revenue of $10.80 million for the quarter, compared to analysts’ expectations of $7.16 million. Cronos Group’s revenue for the quarter was up 217.6% compared to the same quarter last year.

Several equities analysts have recently issued reports on the company. Canaccord Genuity raised Cronos Group from a “sell” rating to a “hold” rating and boosted their target price for the company from $16.00 to $17.00 in a research note on Friday, August 9th. Stifel Nicolaus assumed coverage on Cronos Group in a research note on Wednesday, June 5th. They set a “hold” rating on the stock. Bank of America boosted their target price on Cronos Group from $20.00 to $26.00 and gave the company a “buy” rating in a research note on Friday, August 9th. ValuEngine cut Cronos Group from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Finally, Piper Jaffray Companies assumed coverage on Cronos Group in a research note on Monday, August 12th. They set an “overweight” rating and a $18.00 target price on the stock. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $19.62.

CRON opened at $11.40 on Tuesday. Cronos Group has a 52-week low of $6.50 and a 52-week high of $25.10. The stock has a market capitalization of $3.89 billion, a PE ratio of 42.89 and a beta of 3.43. The stock’s 50 day moving average price is $13.99 and its 200-day moving average price is $16.90.

A number of hedge funds have recently modified their holdings of CRON. ETF Managers Group LLC purchased a new stake in Cronos Group in the second quarter worth $95,437,000. Vanguard Group Inc. grew its stake in Cronos Group by 77.7% in the second quarter. Vanguard Group Inc. now owns 9,068,103 shares of the company’s stock worth $144,910,000 after purchasing an additional 3,966,024 shares during the period. Janus Henderson Group PLC grew its stake in Cronos Group by 4,474.9% in the second quarter. Janus Henderson Group PLC now owns 800,600 shares of the company’s stock worth $12,871,000 after purchasing an additional 783,100 shares during the period. D. E. Shaw & Co. Inc. grew its stake in Cronos Group by 198.7% in the second quarter. D. E. Shaw & Co. Inc. now owns 335,400 shares of the company’s stock worth $5,360,000 after purchasing an additional 675,200 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. purchased a new stake in Cronos Group in the first quarter worth $12,113,000. 8.16% of the stock is currently owned by 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.

Recommended Story: What is the definition of a trade war?

Get a free copy of the Zacks research report on Cronos Group (CRON)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Cronos Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cronos Group and related companies with MarketBeat.com's FREE daily email newsletter.



Latest News

Obsidian Energy  Upgraded to Hold by Zacks Investment Research
Obsidian Energy Upgraded to Hold by Zacks Investment Research
First Commonwealth Financial  Lifted to Buy at Zacks Investment Research
First Commonwealth Financial Lifted to Buy at Zacks Investment Research
First Industrial Realty Trust  Stock Rating Upgraded by Zacks Investment Research
First Industrial Realty Trust Stock Rating Upgraded by Zacks Investment Research
Oppenheimer Begins Coverage on Canopy Growth
Oppenheimer Begins Coverage on Canopy Growth
Farfetch  Downgraded to Sell at Zacks Investment Research
Farfetch Downgraded to Sell at Zacks Investment Research
Analysts’ Updated EPS Estimates for September, 20th
Analysts’ Updated EPS Estimates for September, 20th


© 2006-2019 Ticker Report