Green Thumb Industries (OTCMKTS:GTBIF) Releases Earnings Results, Beats Estimates By $0.01 EPS

Green Thumb Industries (OTCMKTS:GTBIF) issued its earnings results on Tuesday. The company reported $0.02 earnings per share for the quarter, topping analysts’ consensus estimates of $0.01 by $0.01, Zacks reports. The firm had revenue of $306.68 million during the quarter, compared to analyst estimates of $298.99 million. Green Thumb Industries had a net margin of 10.48% and a return on equity of 6.02%.

Green Thumb Industries Price Performance

Shares of OTCMKTS:GTBIF traded up $0.15 during trading hours on Thursday, hitting $6.89. The company’s stock had a trading volume of 83,404 shares, compared to its average volume of 562,146. The company has a market capitalization of $1.35 billion, a price-to-earnings ratio of 12.77 and a beta of 1.26. The firm’s fifty day moving average price is $7.52 and its 200 day moving average price is $7.18. Green Thumb Industries has a 52 week low of $5.29 and a 52 week high of $10.43.

Analysts Set New Price Targets

Several analysts have commented on the stock. Benchmark reiterated a “buy” rating on shares of Green Thumb Industries in a research note on Thursday, May 7th. Roth Capital set a $18.00 target price on Green Thumb Industries in a report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $18.00.

About Green Thumb Industries

Green Thumb Industries is a diversified cannabis consumer packaged goods company and retailer with operations spanning cultivation, manufacturing and distribution. The company develops branded cannabis products across multiple formats, including dried flower, pre-rolls, oils, concentrates, edibles and vaporizers. Its product portfolio is marketed under well-known brand names tailored to the adult-use market, and the company works with licensed cultivators and partners to ensure consistent quality and compliance with state regulations.

In addition to its branded product lines, Green Thumb Industries maintains a network of wholly owned manufacturing facilities and distribution centers that supply its retail outlets as well as independent dispensaries.