Verano (OTCMKTS:VRNOF) Rating Increased to Moderate Buy at Cormark

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 investment analysts at Cormark from a "hold" rating to a "moderate buy" rating in a research report issued on Monday,Zacks.com reports.

Verano Stock Down 19.3%

OTCMKTS:VRNOF traded down $0.29 during trading hours on Monday, reaching $1.21. The company's stock had a trading volume of 1,353,804 shares, compared to its average volume of 1,278,815. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.51 and a quick ratio of 1.06. Verano has a one year low of $0.41 and a one year high of $4.34. The business's 50-day moving average is $0.65 and its 200-day moving average is $0.73. The company has a market cap of $437.75 million, a price-to-earnings ratio of -1.23 and a beta of 0.74.

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

Verano Company Profile

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.