Cronos Group Inc. (NASDAQ:CRON) Receives Consensus Recommendation of "Moderate Buy" from Brokerages

Key Points

• Cronos Group received a consensus “Moderate Buy” rating from five covering brokerages, with three buys and two holds. Analysts’ average 12-month price target is $2.30.
• Cronos reported quarterly EPS of $0.09, exceeding the $0.01 consensus estimate, while revenue reached $53.01 million versus expectations of $44.20 million.
• The stock opened at $3.29, with a $1.21 billion market capitalization and a 52-week range of $2.28 to $3.61; institutional investors own 8.71% of outstanding shares.

Shares of Cronos Group Inc. (NASDAQ:CRON - Get Free Report) have earned a consensus rating of "Moderate Buy" from the five ratings firms that are presently covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $2.30.

Several analysts have recently weighed in on the company. Wall Street Zen downgraded Cronos Group from a "buy" rating to a "hold" rating in a research note on Saturday, August 15th. Weiss Ratings raised Cronos Group from a "hold (c+)" rating to a "buy (b-)" rating in a report on Tuesday, September 22nd. Finally, TD Securities restated a "buy" rating on shares of Cronos Group in a research note on Monday, September 28th.

Cronos Group Stock Up 1.2%

NASDAQ CRON opened at $3.29 on Wednesday. The stock has a market cap of $1.21 billion, a PE ratio of 16.45 and a beta of 0.90. Cronos Group has a fifty-two week low of $2.28 and a fifty-two week high of $3.61. The business has a 50 day moving average price of $3.22 and a two-hundred day moving average price of $2.87.

Cronos Group (NASDAQ:CRON - Get Free Report) last posted its earnings results on Thursday, August 6th. The company reported $0.09 EPS for the quarter, topping analysts' consensus estimates of $0.01 by $0.08. Cronos Group had a net margin of 39.08% and a return on equity of 4.85%. The business had revenue of $53.01 million for the quarter, compared to analysts' expectations of $44.20 million. Sell-side analysts anticipate that Cronos Group will post 0.11 EPS for the current fiscal year.

Hedge Funds Weigh In On Cronos Group

Large investors have recently modified their holdings of the stock. Cibc World Market Inc. bought a new stake in shares of Cronos Group during the 2nd quarter worth about $3,820,000. Oasis Management Co Ltd. bought a new position in Cronos Group during the 4th quarter valued at $2,409,000. Pillsbury Lake Capital LLC acquired a new position in shares of Cronos Group during the 2nd quarter valued at $2,252,253. Parallax Volatility Advisers L.P. acquired a new position in shares of Cronos Group during the 2nd quarter valued at $834,000. Finally, Corient Private Wealth LP bought a new stake in shares of Cronos Group in the 2nd quarter worth $595,000. Institutional investors own 8.71% of the company's stock.

About Cronos Group

Cronos Group Inc is a Toronto-based cannabis company that develops, produces and distributes cannabis and cannabis-derived products. The company focuses on branded consumer products, including dried cannabis flower, pre-rolls, vaporizers, edibles and extracts.

Cronos markets products under brands such as Spinach, PEACE NATURALS and Lord Jones. Brand availability varies by market and product category, with the company serving regulated cannabis markets in Canada and pursuing international opportunities where permitted by local laws.

Founded in 2013, Cronos has expanded through brand development, acquisitions and strategic investments.

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