Cresco Labs (OTCMKTS:CRLBF) Issues Earnings Results, Misses Expectations By $0.01 EPS

Cresco Labs (OTCMKTS:CRLBF) issued its earnings results on Friday. The company reported ($0.02) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.01), reports. The business had revenue of $179.78 million for the quarter, compared to the consensus estimate of $185.23 million. Cresco Labs had a negative net margin of 23.07% and a negative return on equity of 17.03%.

Cresco Labs Price Performance

CRLBF stock traded down $0.04 during midday trading on Friday, reaching $1.24. 991,863 shares of the stock were exchanged, compared to its average volume of 670,762. The company has a fifty day moving average price of $1.60 and a 200 day moving average price of $1.72. Cresco Labs has a 52 week low of $1.09 and a 52 week high of $2.65. The company has a debt-to-equity ratio of 1.76, a current ratio of 2.00 and a quick ratio of 1.30. The stock has a market capitalization of $605.29 million, a PE ratio of -6.20 and a beta of 1.88.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Roth Capital raised Cresco Labs from a “hold” rating to a “strong-buy” rating in a research note on Friday, August 9th. Needham & Company LLC reissued a “hold” rating on shares of Cresco Labs in a research report on Monday, August 12th. Finally, Ventum Cap Mkts upgraded shares of Cresco Labs to a “strong-buy” rating in a research note on Friday, August 9th. Two research analysts have rated the stock with a hold rating, two have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $2.50.

Cresco Labs Company Profile

Cresco Labs Inc, together with its subsidiaries, cultivates, manufactures, and sells retail and medical cannabis products in the United States. It provides cannabis in flowers, vape pens, live resins, disposable pens, and extracts under the Cresco brand; vape carts, vape pens, flower, popcorn, shake, pre-rolls, shorties, and concentrates under the High Supply brand; vapes and gummies under the Good News brand; vapes and edibles under the Wonder Wellness Co brand; and tinctures, capsules, salves, and sublingual oils under the Remedi brand.