Verano (OTCMKTS:VRNOF) Posts Quarterly Earnings Results, Beats Expectations By $0.07 EPS

Verano (OTCMKTS:VRNOF) announced its earnings results on Wednesday. The company reported ($0.01) EPS for the quarter, topping the consensus estimate of ($0.08) by $0.07, reports. The company had revenue of $221.31 million for the quarter, compared to analysts’ expectations of $215.71 million. Verano had a negative return on equity of 4.49% and a negative net margin of 12.50%.

Verano Price Performance

Verano stock opened at $5.06 on Friday. The business’s 50-day simple moving average is $5.26 and its 200 day simple moving average is $4.95. The stock has a market cap of $1.74 billion, a price-to-earnings ratio of -14.41 and a beta of 1.49. Verano has a 12-month low of $2.53 and a 12-month high of $7.08. The company has a quick ratio of 0.62, a current ratio of 0.96 and a debt-to-equity ratio of 0.39.

Analyst Upgrades and Downgrades

Separately, Needham & Company LLC restated a “buy” rating and set a $7.00 target price on shares of Verano in a report on Wednesday.

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.