Cronos Group Inc. (NASDAQ:CRON) Expected to Post Quarterly Sales of $18.43 Million

Equities analysts expect that Cronos Group Inc. (NASDAQ:CRON) will announce sales of $18.43 million for the current quarter, Zacks Investment Research reports. Four analysts have made estimates for Cronos Group’s earnings, with estimates ranging from $16.10 million to $20.00 million. Cronos Group reported sales of $11.36 million during the same quarter last year, which indicates a positive year-over-year growth rate of 62.2%. The business is expected to announce its next earnings results on Thursday, November 4th.

On average, analysts expect that Cronos Group will report full year sales of $70.33 million for the current financial year, with estimates ranging from $64.80 million to $78.00 million. For the next year, analysts anticipate that the company will post sales of $153.70 million, with estimates ranging from $144.90 million to $163.00 million. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that cover Cronos Group.

Cronos Group (NASDAQ:CRON) last issued its quarterly earnings results on Thursday, August 5th. The company reported $0.15 earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.07) by $0.22. Cronos Group had a negative net margin of 258.59% and a negative return on equity of 9.48%. The company had revenue of $15.60 million during the quarter, compared to the consensus estimate of $18.48 million. During the same period in the prior year, the company earned ($0.31) EPS. Cronos Group’s revenue was up 57.6% on a year-over-year basis.

Several research firms have issued reports on CRON. Canaccord Genuity cut their price objective on Cronos Group from C$7.50 to C$7.00 and set a “sell” rating on the stock in a report on Monday, August 9th. Zacks Investment Research downgraded Cronos Group from a “hold” rating to a “sell” rating in a report on Tuesday, August 3rd. Raymond James set a $11.00 price objective on Cronos Group and gave the stock an “outperform” rating in a report on Tuesday, August 24th. Finally, TheStreet downgraded Cronos Group from a “c” rating to a “d+” rating in a report on Tuesday, May 25th. Four research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $8.92.

NASDAQ CRON traded down $0.25 on Monday, hitting $5.72. 2,216,601 shares of the company were exchanged, compared to its average volume of 3,662,428. The company’s 50 day moving average price is $6.76 and its 200-day moving average price is $7.95. The firm has a market capitalization of $2.14 billion, a P/E ratio of -13.95 and a beta of 1.75. Cronos Group has a twelve month low of $4.91 and a twelve month high of $15.83.

Several institutional investors and hedge funds have recently modified their holdings of CRON. Vanguard Group Inc. grew its stake in shares of Cronos Group by 3.5% in the 2nd quarter. Vanguard Group Inc. now owns 5,670,485 shares of the company’s stock valued at $48,766,000 after buying an additional 189,328 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Cronos Group by 205.2% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,270,639 shares of the company’s stock valued at $12,010,000 after buying an additional 854,262 shares in the last quarter. Morgan Stanley grew its stake in shares of Cronos Group by 128.9% in the 1st quarter. Morgan Stanley now owns 1,252,895 shares of the company’s stock valued at $11,853,000 after buying an additional 705,640 shares in the last quarter. TD Asset Management Inc. grew its stake in shares of Cronos Group by 23.9% in the 1st quarter. TD Asset Management Inc. now owns 1,193,301 shares of the company’s stock valued at $11,279,000 after buying an additional 230,077 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in shares of Cronos Group by 140.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,053,096 shares of the company’s stock valued at $9,046,000 after buying an additional 614,794 shares in the last quarter. Institutional investors own 13.91% of the company’s stock.

About Cronos Group

Cronos Group, Inc engages in the production and distribution of cannabis. Its brands include PEACE NATURALS, COVE, Spinach, Lord Jones, and PEACE+. The company was founded by Lorne Michael Gertner and Paul Rosen on August 21, 2012 and is headquartered in Toronto, Canada.

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Earnings History and Estimates for Cronos Group (NASDAQ:CRON)

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