Cresco Labs (OTCMKTS:CRLBF – Get Free Report) announced its quarterly earnings results on Friday. The company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.01), Zacks reports. The company had revenue of $172.78 million during the quarter, compared to the consensus estimate of $173.66 million. Cresco Labs had a negative return on equity of 7.53% and a negative net margin of 15.50%.
Cresco Labs Stock Performance
Shares of OTCMKTS CRLBF opened at $0.56 on Friday. The company has a current ratio of 1.78, a quick ratio of 0.98 and a debt-to-equity ratio of 1.66. The stock has a 50 day simple moving average of $0.68 and a 200-day simple moving average of $0.85. The company has a market cap of $207.18 million, a PE ratio of -1.99 and a beta of 1.60. Cresco Labs has a 12-month low of $0.55 and a 12-month high of $2.30.
Analyst Ratings Changes
A number of research analysts recently commented on CRLBF shares. Alliance Global Partners restated a “buy” rating on shares of Cresco Labs in a research note on Thursday, August 6th. Zacks Research cut Cresco Labs from a “strong-buy” rating to a “hold” rating in a research note on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Buy”.
View Our Latest Stock Analysis on CRLBF
About Cresco Labs
Cresco Labs Inc is a Chicago-based cannabis company that cultivates, manufactures and distributes cannabis products in the United States. Founded in 2013, the company operates as a multistate cannabis operator, serving regulated markets through a combination of wholesale operations and retail dispensaries.
The company’s product portfolio includes flower, pre-rolls, vape products, concentrates, edibles and other cannabis-related goods. Its principal brands have included Cresco, High Supply, Good News, Wonder Wellness, FloraCal Farms and Mindy’s Edibles.
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