Analysts Anticipate OrganiGram Holdings Inc. (NASDAQ:OGI) to Post -$0.04 EPS

Equities research analysts expect that OrganiGram Holdings Inc. (NASDAQ:OGI) will announce earnings per share of ($0.04) for the current quarter, according to Zacks Investment Research. Six analysts have issued estimates for OrganiGram’s earnings. The highest EPS estimate is ($0.03) and the lowest is ($0.05). OrganiGram posted earnings per share of ($0.03) in the same quarter last year, which indicates a negative year over year growth rate of 33.3%. The business is scheduled to issue its next earnings results on Monday, November 29th.

On average, analysts expect that OrganiGram will report full-year earnings of ($0.28) per share for the current fiscal year, with EPS estimates ranging from ($0.40) to ($0.18). For the next financial year, analysts forecast that the company will report earnings of ($0.11) per share, with EPS estimates ranging from ($0.15) to ($0.06). Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research firms that follow OrganiGram.

OrganiGram (NASDAQ:OGI) last posted its quarterly earnings data on Monday, July 12th. The company reported ($0.01) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.03) by $0.02. The firm had revenue of $16.55 million for the quarter, compared to the consensus estimate of $13.95 million. OrganiGram had a negative return on equity of 19.91% and a negative net margin of 190.24%.

Several brokerages recently commented on OGI. CIBC lowered their price target on OrganiGram from C$4.00 to C$3.50 and set a “neutral” rating for the company in a research note on Thursday, September 23rd. Atb Cap Markets reaffirmed a “sector perform” rating on shares of OrganiGram in a research report on Friday, July 23rd. Stifel Nicolaus lowered their price target on OrganiGram from C$4.00 to C$3.75 and set a “hold” rating on the stock in a report on Thursday, July 15th. Finally, Zacks Investment Research cut shares of OrganiGram from a “hold” rating to a “sell” rating in a research note on Friday, September 3rd. One research analyst has rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $4.21.

Several hedge funds and other institutional investors have recently bought and sold shares of OGI. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of OrganiGram by 287.4% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,031,033 shares of the company’s stock worth $13,952,000 after purchasing an additional 2,990,403 shares during the last quarter. TD Asset Management Inc. acquired a new position in OrganiGram in the 1st quarter valued at approximately $2,764,000. Penserra Capital Management LLC raised its holdings in OrganiGram by 96.8% in the 1st quarter. Penserra Capital Management LLC now owns 1,238,234 shares of the company’s stock valued at $4,296,000 after acquiring an additional 609,194 shares in the last quarter. Bank of Montreal Can raised its holdings in OrganiGram by 747.6% in the 1st quarter. Bank of Montreal Can now owns 570,618 shares of the company’s stock valued at $1,798,000 after acquiring an additional 503,294 shares in the last quarter. Finally, Jump Financial LLC acquired a new position in OrganiGram in the 2nd quarter valued at approximately $1,245,000. 13.76% of the stock is owned by institutional investors and hedge funds.

Shares of NASDAQ OGI traded up $0.10 during trading hours on Monday, hitting $2.35. The stock had a trading volume of 79,420 shares, compared to its average volume of 12,572,921. The company has a market capitalization of $704.57 million, a P/E ratio of -4.41 and a beta of 0.10. The firm’s 50-day moving average price is $2.48 and its two-hundred day moving average price is $2.70. OrganiGram has a 52 week low of $1.07 and a 52 week high of $6.45.

About OrganiGram

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Earnings History and Estimates for OrganiGram (NASDAQ:OGI)

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