Cresco Labs Inc. Forecasted to Earn Q2 2024 Earnings of ($0.04) Per Share (OTCMKTS:CRLBF)

Cresco Labs Inc. (OTCMKTS:CRLBF) – Equities research analysts at Wedbush decreased their Q2 2024 earnings estimates for shares of Cresco Labs in a research note issued on Thursday, May 16th. Wedbush analyst G. Pascarelli now expects that the company will earn ($0.04) per share for the quarter, down from their prior estimate of ($0.03). Wedbush has a “Outperform” rating and a $3.00 price target on the stock. The consensus estimate for Cresco Labs’ current full-year earnings is ($0.05) per share. Wedbush also issued estimates for Cresco Labs’ Q3 2024 earnings at ($0.04) EPS, Q4 2024 earnings at ($0.04) EPS, FY2024 earnings at ($0.12) EPS, Q1 2025 earnings at ($0.03) EPS, Q2 2025 earnings at ($0.03) EPS, Q3 2025 earnings at ($0.03) EPS, Q4 2025 earnings at ($0.03) EPS and FY2025 earnings at ($0.11) EPS.

Cresco Labs (OTCMKTS:CRLBF) last issued its quarterly earnings data on Wednesday, May 15th. The company reported ($0.02) EPS for the quarter, meeting analysts’ consensus estimates of ($0.02). The firm had revenue of $184.30 million for the quarter, compared to analysts’ expectations of $183.31 million. Cresco Labs had a negative net margin of 20.32% and a negative return on equity of 6.61%.

CRLBF has been the topic of a number of other reports. Needham & Company LLC reissued a “hold” rating on shares of Cresco Labs in a research note on Thursday, May 16th. Echelon Wealth Partners upgraded shares of Cresco Labs from a “hold” rating to a “buy” rating in a report on Wednesday, March 13th. Finally, Roth Mkm upped their target price on shares of Cresco Labs from $1.75 to $2.00 and gave the company a “neutral” rating in a report on Thursday, March 14th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, Cresco Labs has an average rating of “Moderate Buy” and a consensus target price of $2.63.

Cresco Labs Price Performance

Shares of OTCMKTS CRLBF opened at $2.13 on Monday. The stock has a market cap of $736.17 million, a price-to-earnings ratio of -4.53 and a beta of 2.08. Cresco Labs has a 52 week low of $1.00 and a 52 week high of $2.77. The company’s 50-day moving average price is $2.07 and its 200 day moving average price is $1.85. The company has a current ratio of 1.39, a quick ratio of 0.85 and a debt-to-equity ratio of 1.55.

Cresco Labs Company Profile

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.