Verano (VRNOF) Expected to Announce Earnings on Wednesday

Key Points

• Verano Holdings Corp. is set to announce its quarterly earnings on October 29th, with analysts expecting a loss of ($0.04) per share and revenue of $203.10 million.
• In the previous quarter, Verano reported a revenue of $202.27 million while meeting earnings per share estimates, although it fell short of revenue expectations.
• Verano's stock price experienced a decline of 7.2%, and the company currently holds a consensus rating of "Strong Buy" from analysts.

Verano (OTCMKTS:VRNOF - Get Free Report) is expected to release its results before the market opens on Wednesday, October 29th. Analysts expect Verano to post earnings of ($0.04) per share and revenue of $203.10 million for the quarter.

Verano (OTCMKTS:VRNOF - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The company reported ($0.05) earnings per share for the quarter, meeting analysts' consensus estimates of ($0.05). The company had revenue of $202.27 million for the quarter, compared to analyst estimates of $211.80 million. Verano had a negative net margin of 40.84% and a negative return on equity of 8.63%. On average, analysts expect Verano to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

Verano Stock Down 7.2%

Shares of VRNOF opened at $1.42 on Wednesday. The company has a quick ratio of 1.06, a current ratio of 2.51 and a debt-to-equity ratio of 0.53. The firm has a market cap of $513.78 million, a PE ratio of -1.45 and a beta of 0.88. The company's fifty day moving average is $1.42 and its two-hundred day moving average is $0.91. Verano has a fifty-two week low of $0.41 and a fifty-two week high of $3.97.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Cormark upgraded shares of Verano from a "hold" rating to a "moderate buy" rating in a report on Monday, August 11th. Canaccord Genuity Group upgraded shares of Verano to a "strong-buy" rating in a report on Thursday, October 9th. Two investment analysts have rated the stock with a Strong Buy rating, Based on data from MarketBeat, Verano presently has a consensus rating of "Strong Buy".

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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