Cresco Labs (OTCMKTS:CRLBF) Announces Quarterly Earnings Results, Meets Estimates

Cresco Labs (OTCMKTS:CRLBF) issued its quarterly earnings data on Friday. The company reported ($0.01) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.01), Zacks reports. The company had revenue of $176.00 million for the quarter, compared to analyst estimates of $172.10 million. Cresco Labs had a negative net margin of 9.15% and a negative return on equity of 16.52%.

Cresco Labs Stock Up 6.6 %

CRLBF opened at $0.75 on Friday. Cresco Labs has a fifty-two week low of $0.70 and a fifty-two week high of $2.60. The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.39 and a current ratio of 1.97. The company has a fifty day moving average of $0.89 and a two-hundred day moving average of $1.20. The stock has a market capitalization of $364.25 million, a price-to-earnings ratio of -3.73 and a beta of 1.79.

Analyst Ratings Changes

Separately, Atb Cap Markets downgraded shares of Cresco Labs from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 9th. Three investment analysts have rated the stock with a hold rating, one has given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $3.00.

About Cresco Labs

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.