Cronos Group (TSE:CRON) Price Target Raised to C$5.50 at TD

Cronos Group (TSE:CRON) had its price target increased by TD from C$4.50 to C$5.50 in a research note issued on Tuesday,BayStreet.CA reports. The brokerage currently has a “buy” rating on the stock. TD’s target price points to a potential upside of 45.50% from the stock’s current price.

Other equities research analysts also recently issued research reports about the company. Canaccord Genuity Group set a C$4.25 target price on Cronos Group and gave the stock a “buy” rating in a research report on Tuesday, January 27th. TD Securities set a C$4.50 target price on Cronos Group and gave the stock a “buy” rating in a research report on Tuesday, February 24th. Three equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of C$4.75.

Cronos Group Trading Up 0.8%

CRON stock traded up C$0.03 during trading on Tuesday, reaching C$3.78. 149,066 shares of the stock traded hands, compared to its average volume of 169,266. The business’s 50 day moving average price is C$3.56 and its 200-day moving average price is C$3.60. Cronos Group has a 52-week low of C$2.54 and a 52-week high of C$4.66. The company has a debt-to-equity ratio of 0.25, a current ratio of 19.59 and a quick ratio of 24.01. The firm has a market capitalization of C$1.42 billion, a PE ratio of -189.00, a P/E/G ratio of 0.12 and a beta of 1.12.

Cronos Group (TSE:CRON) last posted its quarterly earnings results on Monday, May 11th. The company reported C$0.06 earnings per share (EPS) for the quarter. Cronos Group had a negative return on equity of 0.87% and a negative net margin of 6.37%.The firm had revenue of C$62.86 million during the quarter. As a group, sell-side analysts forecast that Cronos Group will post -0.26 earnings per share for the current year.

About Cronos Group

Cronos Group, headquartered in Toronto, Canada cultivates and sells medicinal and recreational cannabis through its medicinal brand, Peace Naturals, and its two recreational brands, Cove and Spinach. Although it primarily operates in Canada, Cronos exports medical cannabis to Poland and Germany. In addition, it has entered joint ventures in Israel, Colombia, and Australia to drive further international cultivation and distribution growth. In the U.S. the company directly sells hemp-derived CBD and has an option to acquire 10.5% of U.S.