Cormark Upgrades Verano (OTCMKTS:VRNOF) to "Moderate Buy"

Key Points

• Cormark has upgraded Verano (OTCMKTS:VRNOF) from a "hold" rating to a "moderate buy," indicating increased confidence in the company's potential.
• Verano's stock has risen by 31.3%, opening at $1.26, following the analyst upgrade.
• Despite a revenue report of $202.27 million for the quarter, Verano's earnings per share matched expectations at ($0.05), signaling ongoing financial challenges.

Verano (OTCMKTS:VRNOF - Get Free Report) was upgraded by stock analysts at Cormark from a "hold" rating to a "moderate buy" rating in a note issued to investors on Monday,Zacks.com reports.

Verano Stock Up 31.3%

VRNOF stock opened at $1.26 on Monday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.06 and a current ratio of 2.51. The company has a market capitalization of $455.84 million, a price-to-earnings ratio of -1.29 and a beta of 0.74. Verano has a fifty-two week low of $0.41 and a fifty-two week high of $4.34. The stock has a fifty day moving average of $0.59 and a 200-day moving average of $0.72.

Verano (OTCMKTS:VRNOF - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The company reported ($0.05) earnings per share for the quarter, hitting the consensus estimate of ($0.05). The company had revenue of $202.27 million during the quarter, compared to the consensus estimate of $211.80 million. Verano had a negative return on equity of 8.63% and a negative net margin of 40.84%. As a group, equities research analysts predict that Verano will post -0.18 earnings per share for the current year.

About Verano

Verano Holdings Corp. operates as a vertically integrated multi-state cannabis operator in the United States. The company engages in the cultivation, processing, wholesale, and retail distribution of cannabis in Arizona, Arkansas, Connecticut, Florida, Illinois, Maryland, Massachusetts, Michigan, Nevada, New Jersey, Ohio, Pennsylvania, and West Virginia.

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