TD Issues Positive Forecast for Cronos Group (TSE:CRON) Stock Price

Cronos Group (TSE:CRON) had its price target raised by research analysts at TD from C$5.50 to C$6.00 in a research note issued on Monday,BayStreet.CA reports. The brokerage currently has a “buy” rating on the stock. TD’s price target would suggest a potential upside of 42.86% from the company’s previous close.

Cronos Group Price Performance

CRON traded down C$0.12 during trading on Monday, hitting C$4.20. The company’s stock had a trading volume of 177,015 shares, compared to its average volume of 168,832. The company has a quick ratio of 24.01, a current ratio of 21.87 and a debt-to-equity ratio of 0.12. The stock has a market capitalization of C$1.55 billion, a price-to-earnings ratio of 22.11, a price-to-earnings-growth ratio of 0.12 and a beta of 1.13. The firm’s 50 day moving average price is C$3.91 and its two-hundred day moving average price is C$3.71. Cronos Group has a 12 month low of C$3.23 and a 12 month high of C$4.66.

Cronos Group (TSE:CRON) last announced its earnings results on Monday, May 11th. The company reported C$0.06 EPS for the quarter. Cronos Group had a negative return on equity of 0.19% and a negative net margin of 1.29%.The company had revenue of C$62.86 million for the quarter. Sell-side analysts forecast that Cronos Group will post -0.26 earnings per share for the current fiscal 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.