$5.64 Million in Sales Expected for Cronos Group Inc (NASDAQ:CRON) This Quarter

Wall Street brokerages expect Cronos Group Inc (NASDAQ:CRON) to post $5.64 million in sales for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for Cronos Group’s earnings. The highest sales estimate is $6.57 million and the lowest is $5.02 million. Cronos Group reported sales of $2.63 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 114.4%. The firm is scheduled to announce its next earnings report before the market opens on Thursday, August 8th.

According to Zacks, analysts expect that Cronos Group will report full-year sales of $36.74 million for the current year, with estimates ranging from $29.77 million to $45.93 million. For the next financial year, analysts forecast that the company will report sales of $128.07 million, with estimates ranging from $114.50 million to $150.29 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Cronos Group.

Cronos Group (NASDAQ:CRON) last released its quarterly earnings results on Thursday, May 9th. The company reported $0.36 earnings per share for the quarter, topping the consensus estimate of ($0.02) by $0.38. The business had revenue of $6.47 million for the quarter, compared to analysts’ expectations of $6.87 million. Cronos Group had a net margin of 2,107.83% and a return on equity of 99.44%. The firm’s revenue for the quarter was up 119.3% on a year-over-year basis.

A number of brokerages recently issued reports on CRON. Pi Financial reissued a “neutral” rating and set a $24.00 price objective on shares of Cronos Group in a research report on Tuesday, March 26th. Consumer Edge initiated coverage on Canopy Growth in a report on Friday, June 28th. They set an “equal weight” rating on the stock. CIBC set a $30.00 target price on Cronos Group and gave the company a “buy” rating in a report on Wednesday, March 27th. Stifel Nicolaus cut their target price on MacroGenics from $36.00 to $29.00 and set a “buy” rating on the stock in a report on Wednesday, June 5th. Finally, Bank of America set a $4.00 target price on GameStop and gave the company a “sell” rating in a report on Wednesday, June 5th. Four research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $19.28.

CRON stock traded down $0.99 during midday trading on Friday, reaching $14.16. The stock had a trading volume of 6,411,995 shares, compared to its average volume of 3,682,712. The firm has a fifty day moving average price of $15.59. The stock has a market cap of $5.02 billion, a P/E ratio of -177.00 and a beta of 3.47. Cronos Group has a 52-week low of $5.61 and a 52-week high of $25.10.

Several large investors have recently modified their holdings of the stock. RPG Investment Advisory LLC boosted its holdings in shares of Cronos Group by 237.5% during the 1st quarter. RPG Investment Advisory LLC now owns 1,350 shares of the company’s stock valued at $25,000 after buying an additional 950 shares in the last quarter. Advisory Services Network LLC increased its holdings in Cronos Group by 800.0% in the 4th quarter. Advisory Services Network LLC now owns 2,700 shares of the company’s stock worth $28,000 after acquiring an additional 2,400 shares in the last quarter. Oakworth Capital Inc. purchased a new stake in Cronos Group in the 1st quarter worth approximately $30,000. Kistler Tiffany Companies LLC increased its holdings in Cronos Group by 125.0% in the 1st quarter. Kistler Tiffany Companies LLC now owns 1,755 shares of the company’s stock worth $32,000 after acquiring an additional 975 shares in the last quarter. Finally, Focused Wealth Management Inc increased its holdings in Cronos Group by 48.5% in the 1st quarter. Focused Wealth Management Inc now owns 1,849 shares of the company’s stock worth $34,000 after acquiring an additional 604 shares in the last quarter. Institutional investors and hedge funds own 8.33% of the company’s stock.

Cronos Group Company Profile

Cronos Group Inc, formerly known as PharmaCan Capital Corp., is a principal investment firm. The firm seeks to invest in companies either licensed, or actively seeking a license, to produce medical marijuana pursuant to Canada's Marihuana for Medical Purposes Regulations “MMPR”. The firm typically invests in companies based in Canada.

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