Cresco Labs Inc. (OTCMKTS:CRLBF) Receives Consensus Recommendation of "Buy" from Analysts

Market Beat
2024.08.10 11:09
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Cresco Labs Inc. has received a consensus "Buy" recommendation from analysts. The stock has two hold ratings, three buy ratings, and two strong buy ratings. The average target price is $16.00. Cresco Labs is a leading company in the U.S. cannabis market. The company reported negative earnings per share for the quarter and a negative net margin. The company's stock price opened at $1.56.

Shares of Cresco Labs Inc. (OTCMKTS:CRLBF - Get Free Report) have received a consensus recommendation of "Buy" from the seven brokerages that are covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a hold rating, three have given a buy rating and two have assigned a strong buy rating to the company. The average 1 year target price among analysts that have covered the stock in the last year is $16.00.

  • Cresco Labs Is Leading The U.S. Cannabis Market

CRLBF has been the topic of several recent research reports. Wedbush increased their price objective on shares of Cresco Labs from $2.50 to $3.00 and gave the stock an "outperform" rating in a research note on Thursday, May 16th. Ventum Cap Mkts raised Cresco Labs to a "strong-buy" rating in a research note on Friday. Needham & Company LLC reaffirmed a "hold" rating on shares of Cresco Labs in a report on Thursday, May 16th. Finally, Roth Capital upgraded Cresco Labs from a "hold" rating to a "strong-buy" rating in a report on Friday.

Read Our Latest Stock Analysis on CRLBF

Cresco Labs Trading Down 4.0 %

  • Two More Reasons To Bet Big On U.S. Cannabis

Shares of CRLBF opened at $1.56 on Friday. The company has a debt-to-equity ratio of 1.57, a quick ratio of 0.89 and a current ratio of 1.36. Cresco Labs has a 52-week low of $1.00 and a 52-week high of $2.77. The business's fifty day moving average is $1.65 and its 200-day moving average is $1.89. The firm has a market cap of $761.50 million, a price-to-earnings ratio of -3.32 and a beta of 1.86.

Cresco Labs (OTCMKTS:CRLBF - Get Free Report) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($0.16) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.15). Cresco Labs had a negative return on equity of 6.78% and a negative net margin of 20.32%. The company had revenue of $184.36 million for the quarter, compared to analysts' expectations of $184.26 million. Equities analysts anticipate that Cresco Labs will post -0.03 EPS for the current fiscal year.

About Cresco Labs

(Get Free Report
  • Cresco Labs OTCMKTS: CRLBF Accelerates To Profits In Q3

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.

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