Verano (VRNOF) Expected to Announce Quarterly Earnings on Thursday

Key Points

• Verano (OTCMKTS: VRNOF) is set to announce its quarterly earnings on August 7th, with analysts predicting earnings of (−$0.05) per share and a revenue of $211.80 million for the quarter.
• In its previous quarterly report, Verano posted earnings of (−$0.03) per share and revenue of $209.81 million, which fell short of analysts' estimates.
• Following a recent research note, Cormark downgraded Verano's rating from "moderate buy" to "hold."

Verano (OTCMKTS:VRNOF - Get Free Report) is projected to announce its earnings results before the market opens on Thursday, August 7th. Analysts expect the company to announce earnings of ($0.05) per share and revenue of $211.80 million for the quarter.

Verano (OTCMKTS:VRNOF - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The company reported ($0.03) EPS for the quarter, beating the consensus estimate of ($0.05) by $0.02. Verano had a negative net margin of 40.20% and a negative return on equity of 8.06%. The firm had revenue of $209.81 million during the quarter, compared to analyst estimates of $213.84 million. On average, analysts expect Verano to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

Verano Stock Performance

VRNOF traded up $0.09 during trading on Friday, reaching $0.66. 1,076,455 shares of the company's stock were exchanged, compared to its average volume of 624,679. Verano has a 1 year low of $0.41 and a 1 year high of $4.34. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.15 and a quick ratio of 1.01. The stock has a market capitalization of $238.59 million, a P/E ratio of -0.67 and a beta of 0.74. The company's fifty day simple moving average is $0.56 and its 200-day simple moving average is $0.73.

Wall Street Analyst Weigh In

Separately, Cormark lowered Verano from a "moderate buy" rating to a "hold" rating in a research report on Monday, May 12th.

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.