Cresco Labs (OTCMKTS:CRLBF) Announces Quarterly Earnings Results, Beats Estimates By $0.06 EPS

Cresco Labs (OTCMKTS:CRLBF) announced its quarterly earnings results on Thursday. The company reported $0.04 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.06, Zacks reports. Cresco Labs had a negative return on equity of 17.98% and a negative net margin of 20.90%.

Cresco Labs Trading Up 9.6%

OTCMKTS CRLBF traded up $0.06 during mid-day trading on Thursday, reaching $0.72. 663,256 shares of the stock were exchanged, compared to its average volume of 770,760. The stock has a market capitalization of $361.98 million, a PE ratio of -1.85 and a beta of 1.54. The company has a debt-to-equity ratio of 1.78, a quick ratio of 1.41 and a current ratio of 2.51. Cresco Labs has a 1-year low of $0.59 and a 1-year high of $2.30. The business’s fifty day simple moving average is $0.79 and its 200 day simple moving average is $0.92.

Analysts Set New Price Targets

Separately, Alliance Global Partners reiterated a “buy” rating on shares of Cresco Labs in a research report on Thursday. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Cresco Labs has a consensus rating of “Buy”.

Cresco Labs Company Profile

Cresco Labs is a vertically integrated, multi-state cannabis operator in the United States. The company engages in the cultivation, manufacturing and distribution of a broad range of cannabis products, including flower, pre-rolled joints, concentrates, vaporizers, edibles and tinctures. Cresco Labs’ operations span cultivation facilities, processing laboratories and a network of wholesale distribution centers that supply licensed dispensaries and retail outlets across key cannabis markets.

The company’s product portfolio is organized under several branded platforms, such as MÜV, Reserve and High Supply, each designed to address different segments of the adult-use and medical cannabis markets.