OrganiGram Holdings Inc to Post FY2019 Earnings of $0.04 Per Share, Oppenheimer Forecasts (NASDAQ:OGI)

OrganiGram Holdings Inc (NASDAQ:OGI) – Oppenheimer dropped their FY2019 earnings per share (EPS) estimates for shares of OrganiGram in a note issued to investors on Tuesday, November 12th. Oppenheimer analyst R. Parikh now expects that the company will post earnings per share of $0.04 for the year, down from their prior forecast of $0.08. Oppenheimer currently has a “Market Perform” rating on the stock.

A number of other research analysts have also recently weighed in on the stock. Zacks Investment Research cut shares of OrganiGram from a “buy” rating to a “hold” rating in a research report on Thursday. CIBC assumed coverage on shares of OrganiGram in a research report on Tuesday, September 24th. They set an “outperformer” rating and a $9.00 price objective on the stock. Jefferies Financial Group upgraded shares of OrganiGram from a “hold” rating to a “buy” rating and set a $8.20 price objective on the stock in a research report on Friday, October 11th. BMO Capital Markets cut shares of OrganiGram from an “outperform” rating to a “market perform” rating in a research report on Tuesday. Finally, Cantor Fitzgerald assumed coverage on shares of OrganiGram in a research report on Tuesday, November 5th. They set an “overweight” rating and a $17.10 price objective on the stock. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $9.80.

Shares of OGI opened at $2.47 on Wednesday. The company has a current ratio of 9.05, a quick ratio of 4.61 and a debt-to-equity ratio of 0.14. OrganiGram has a fifty-two week low of $2.29 and a fifty-two week high of $8.44. The stock has a fifty day simple moving average of $3.43.

A number of hedge funds have recently bought and sold shares of OGI. Davis Rea LTD. bought a new position in OrganiGram during the second quarter valued at $73,000. Ingalls & Snyder LLC purchased a new stake in shares of OrganiGram during the second quarter valued at $113,000. Rothschild Investment Corp IL purchased a new stake in shares of OrganiGram during the second quarter valued at $175,000. Exane Derivatives purchased a new stake in shares of OrganiGram during the second quarter valued at $258,000. Finally, Truvestments Capital LLC purchased a new stake in shares of OrganiGram during the second quarter valued at $29,000. Institutional investors and hedge funds own 13.65% of the company’s stock.

OrganiGram Company Profile

OrganiGram Holdings Inc, through its subsidiaries, produces and sells dried cannabis and cannabis oil in Canada. It also offers wholesale shipping of cannabis plant cuttings, dried flowers, blends, pre-rolls, and cannabis oils to retailers and wholesalers. The company also exports its products. It sells its products online, as well as through phone orders.

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Earnings History and Estimates for OrganiGram (NASDAQ:OGI)

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