HEXO Corp. (NYSE:HEXO) Expected to Post Earnings of -$0.06 Per Share


Share on StockTwits

Equities analysts expect that HEXO Corp. (NYSE:HEXO) will announce earnings of ($0.06) per share for the current quarter, Zacks Investment Research reports. Eight analysts have issued estimates for HEXO’s earnings. The lowest EPS estimate is ($0.08) and the highest is ($0.04). HEXO reported earnings per share of ($0.32) in the same quarter last year, which indicates a positive year-over-year growth rate of 81.3%. The business is scheduled to announce its next earnings report on Monday, March 29th.

According to Zacks, analysts expect that HEXO will report full year earnings of ($0.18) per share for the current year, with EPS estimates ranging from ($0.40) to ($0.08). For the next fiscal year, analysts anticipate that the business will post earnings of ($0.09) per share, with EPS estimates ranging from ($0.20) to $0.00. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research firms that cover HEXO.

HEXO (NYSE:HEXO) last posted its quarterly earnings data on Sunday, December 13th. The company reported ($0.01) earnings per share for the quarter, topping the consensus estimate of ($0.02) by $0.01. The company had revenue of $22.25 million during the quarter, compared to the consensus estimate of $21.62 million.

A number of brokerages recently weighed in on HEXO. Atb Cap Markets raised shares of HEXO from an “underperform” rating to a “sector perform” rating in a research note on Monday, December 14th. Stifel Nicolaus upgraded shares of HEXO from a “sell” rating to a “hold” rating and increased their target price for the stock from $0.60 to $1.40 in a research report on Wednesday, December 16th. Canaccord Genuity increased their price target on shares of HEXO from $1.00 to $1.25 and gave the stock a “hold” rating in a research report on Tuesday, December 15th. Jefferies Financial Group reissued a “sell” rating and issued a $0.75 price objective on shares of HEXO in a research note on Wednesday, September 16th. Finally, BidaskClub raised shares of HEXO from a “sell” rating to a “hold” rating in a research note on Saturday, October 10th. Six analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have assigned a buy rating to the stock. HEXO presently has an average rating of “Hold” and a consensus price target of $1.12.

Shares of HEXO stock opened at $6.27 on Thursday. HEXO has a 12-month low of $1.38 and a 12-month high of $8.16. The firm has a market capitalization of $765.86 million, a price-to-earnings ratio of -4.51 and a beta of 1.46. The firm has a fifty day moving average of $3.22 and a 200-day moving average of $1.41.

Large investors have recently modified their holdings of the stock. Advisor Group Holdings Inc. grew its stake in HEXO by 46.9% during the second quarter. Advisor Group Holdings Inc. now owns 47,110 shares of the company’s stock valued at $35,000 after acquiring an additional 15,035 shares in the last quarter. Jane Street Group LLC grew its stake in HEXO by 38.5% during the second quarter. Jane Street Group LLC now owns 77,065 shares of the company’s stock valued at $56,000 after acquiring an additional 21,433 shares in the last quarter. Toronto Dominion Bank grew its stake in HEXO by 23.4% during the second quarter. Toronto Dominion Bank now owns 90,111 shares of the company’s stock valued at $65,000 after acquiring an additional 17,097 shares in the last quarter. Commonwealth Equity Services LLC grew its stake in HEXO by 30.2% during the second quarter. Commonwealth Equity Services LLC now owns 92,201 shares of the company’s stock valued at $68,000 after acquiring an additional 21,375 shares in the last quarter. Finally, Cambria Investment Management L.P. grew its stake in HEXO by 23.5% during the third quarter. Cambria Investment Management L.P. now owns 116,403 shares of the company’s stock valued at $77,000 after acquiring an additional 22,172 shares in the last quarter. 6.65% of the stock is owned by institutional investors.

About HEXO

HEXO Corp., through its subsidiaries, produces, markets, and sells cannabis in Canada. It 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. The company offers its adult-use and medical products under the HEXO brand name.

See Also: What is range trading?

Get a free copy of the Zacks research report on HEXO (HEXO)

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

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