Wall Street analysts forecast that Greenlane Holdings, Inc. (NASDAQ:GNLN – Get Rating) will post sales of $51.39 million for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for Greenlane’s earnings. The highest sales estimate is $54.50 million and the lowest is $48.40 million. Greenlane reported sales of $34.01 million in the same quarter last year, which indicates a positive year over year growth rate of 51.1%. The business is expected to announce its next quarterly earnings report before the market opens on Monday, January 1st.
According to Zacks, analysts expect that Greenlane will report full year sales of $221.70 million for the current financial year, with estimates ranging from $208.60 million to $231.70 million. For the next year, analysts forecast that the business will report sales of $273.70 million, with estimates ranging from $255.40 million to $302.00 million. Zacks’ sales averages are an average based on a survey of sell-side research analysts that cover Greenlane.
Greenlane (NASDAQ:GNLN – Get Rating) last released its quarterly earnings data on Wednesday, March 30th. The company reported ($0.09) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.04. Greenlane had a negative return on equity of 18.79% and a negative net margin of 18.42%. The company had revenue of $56.02 million for the quarter, compared to the consensus estimate of $56.10 million. During the same period in the previous year, the business earned ($0.61) earnings per share.
Shares of NASDAQ:GNLN traded up $0.03 during trading on Wednesday, reaching $0.34. The stock had a trading volume of 1,023,526 shares, compared to its average volume of 1,016,187. Greenlane has a 52 week low of $0.28 and a 52 week high of $5.49. The business’s 50-day moving average price is $0.45 and its 200 day moving average price is $0.84. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.76 and a quick ratio of 0.81. The stock has a market capitalization of $41.57 million, a PE ratio of -0.36 and a beta of 2.34.
Institutional investors have recently modified their holdings of the business. HighTower Advisors LLC bought a new stake in shares of Greenlane during the 3rd quarter valued at $147,000. Marshall Wace LLP bought a new stake in shares of Greenlane during the 3rd quarter valued at $1,038,000. Vident Investment Advisory LLC bought a new stake in shares of Greenlane during the 3rd quarter valued at $47,000. BlackRock Inc. raised its position in shares of Greenlane by 5.0% during the 3rd quarter. BlackRock Inc. now owns 736,522 shares of the company’s stock valued at $1,746,000 after acquiring an additional 34,953 shares during the last quarter. Finally, Formidable Asset Management LLC bought a new stake in shares of Greenlane during the 3rd quarter valued at $132,000. Institutional investors own 14.51% of the company’s stock.
About Greenlane (Get Rating)
Greenlane Holdings, Inc develops and distributes cannabis accessories, child-resistant packaging, vape solutions, and lifestyle products in the United States, Canada, and Europe. It operates through two segments, Consumer Goods and Industrial Goods. The company provides consumption accessories, vaporizers, pipes, rolling papers and packaging, grinders, and apparel lines, as well as bubblers, rigs, and other smoking and vaporization related accessories and merchandise.
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