Zacks: Analysts Anticipate HEXO Corp. (HEXO) to Announce -$0.04 EPS

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Equities analysts predict that HEXO Corp. (NASDAQ:HEXO) will post earnings per share (EPS) of ($0.04) for the current quarter, according to Zacks. Eight analysts have issued estimates for HEXO’s earnings, with the lowest EPS estimate coming in at ($0.05) and the highest estimate coming in at $0.00. The firm is expected to announce its next quarterly earnings report on Wednesday, June 12th.

According to Zacks, analysts expect that HEXO will report full year earnings of ($0.13) per share for the current financial year, with EPS estimates ranging from ($0.20) to ($0.04). For the next financial year, analysts expect that the business will post earnings of $0.09 per share, with EPS estimates ranging from ($0.15) to $0.32. Zacks Investment Research’s EPS averages are a mean average based on a survey of analysts that that provide coverage for HEXO.

HEXO (NASDAQ:HEXO) last released its quarterly earnings data on Wednesday, March 13th. The company reported ($0.02) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.04) by $0.02. The business had revenue of $10.09 million for the quarter, compared to analysts’ expectations of $10.01 million.

Several research firms have issued reports on HEXO. Bank of America began coverage on shares of HEXO in a research note on Wednesday, April 17th. They set a “buy” rating for the company. AltaCorp Capital reiterated an “outperform” rating on shares of HEXO in a research note on Thursday, April 4th. Zacks Investment Research downgraded shares of HEXO from a “hold” rating to a “sell” rating in a research note on Thursday, March 28th. Seaport Global Securities began coverage on shares of HEXO in a research note on Thursday, February 21st. They set a “buy” rating and a $12.00 price objective for the company. Finally, Oppenheimer started coverage on shares of HEXO in a research note on Tuesday, February 19th. They set an “outperform” rating and a $7.00 price objective for the company. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $8.29.

Several hedge funds and other institutional investors have recently bought and sold shares of HEXO. TCG Advisors LP acquired a new position in shares of HEXO during the first quarter worth $28,000. Ladenburg Thalmann Financial Services Inc. acquired a new position in shares of HEXO during the first quarter worth $43,000. Advisor Group Inc. acquired a new position in shares of HEXO during the first quarter worth $56,000. Strategic Financial Services Inc acquired a new position in shares of HEXO during the first quarter worth $66,000. Finally, Sheaff Brock Investment Advisors LLC acquired a new position in shares of HEXO during the first quarter worth $73,000.

HEXO opened at $6.65 on Tuesday. HEXO has a 52-week low of $3.02 and a 52-week high of $8.40.

About HEXO

HEXO Corp., through its subsidiary, HEXO Operations Inc, produces, markets, and sells cannabis in Canada. The company 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. It provides its products under the HEXO and Hydropothecary brand names.

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