Verano (OTCMKTS:VRNOF) Upgraded by Canaccord Genuity Group to "Strong-Buy" Rating

Key Points

• Verano (OTCMKTS:VRNOF) has been upgraded to a "strong-buy" rating by Canaccord Genuity Group, highlighting increasing confidence in the company's stock performance.
• Despite the optimistic ratings, Verano's stock is currently down 0.6% and has a reported PE ratio of -1.58.
• In its latest earnings report, Verano reported revenue of $202.27 million for the quarter, which was below analysts' expectations of $211.80 million.

Verano (OTCMKTS:VRNOF - Get Free Report) was upgraded by equities researchers at Canaccord Genuity Group to a "strong-buy" rating in a report released on Thursday,Zacks.com reports.

Separately, Cormark raised Verano from a "hold" rating to a "moderate buy" rating in a research note on Monday, August 11th. Two equities research analysts have rated the stock with a Strong Buy rating, Based on data from MarketBeat, the company has an average rating of "Strong Buy".

Verano Stock Down 0.6%

VRNOF opened at $1.55 on Thursday. Verano has a one year low of $0.41 and a one year high of $3.97. 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 stock's fifty day moving average is $1.32 and its 200-day moving average is $0.86. The company has a market capitalization of $560.82 million, a PE ratio of -1.58 and a beta of 0.88.

Verano (OTCMKTS:VRNOF - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The company reported ($0.05) EPS for the quarter, hitting analysts' consensus estimates of ($0.05). Verano had a negative return on equity of 8.63% and a negative net margin of 40.84%.The company had revenue of $202.27 million for the quarter, compared to the consensus estimate of $211.80 million. On average, equities analysts predict that Verano will post -0.18 EPS for the current fiscal 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.

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