CannTrust (CTST) Posts Quarterly Earnings Results, Beats Expectations By $0.14 EPS

CannTrust (NYSE:CTST) posted its quarterly earnings results on Tuesday. The company reported C$0.09 earnings per share for the quarter, topping the consensus estimate of C($0.05) by C$0.14, MarketWatch Earnings reports. The company had revenue of C$16.85 million for the quarter, compared to the consensus estimate of C$17.00 million. CannTrust had a negative return on equity of 7.34% and a negative net margin of 28.09%. The firm’s quarterly revenue was up 114.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.12 EPS.

CTST stock traded up C$0.64 during midday trading on Tuesday, hitting C$6.37. The company’s stock had a trading volume of 201,489 shares, compared to its average volume of 1,781,426. The stock has a market capitalization of $605.31 million, a PE ratio of -56.91 and a beta of 4.05. CannTrust has a 12 month low of C$4.35 and a 12 month high of C$11.97. The company has a current ratio of 7.65, a quick ratio of 5.54 and a debt-to-equity ratio of 0.06.

A number of hedge funds have recently added to or reduced their stakes in CTST. The Manufacturers Life Insurance Company bought a new position in CannTrust in the 1st quarter valued at approximately $11,874,000. JW Asset Management LLC bought a new position in CannTrust in the 1st quarter valued at approximately $10,863,000. Davis Rea LTD. bought a new position in CannTrust in the 1st quarter valued at approximately $3,846,000. Toronto Dominion Bank bought a new position in CannTrust in the 1st quarter valued at approximately $2,025,000. Finally, Legacy Advisors LLC bought a new position in CannTrust in the 1st quarter valued at approximately $1,555,000. 1.10% of the stock is currently owned by institutional investors and hedge funds.

Several research firms recently weighed in on CTST. Zacks Investment Research upgraded CannTrust from a “hold” rating to a “buy” rating and set a $9.00 price target on the stock in a research note on Tuesday, April 2nd. Bloom Burton restated an “accumulate” rating on shares of CannTrust in a research note on Friday, March 29th.

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About CannTrust

CannTrust Holdings Inc produces and sells medical and recreational cannabis in Canada. It sells dried cannabis and cannabis extracts to the medical patients. CannTrust Holdings Inc was incorporated in 2015 and is headquartered in Vaughan, Canada.

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Earnings History for CannTrust (NYSE:CTST)

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