Verano (OTCMKTS:VRNOF) Upgraded at Ventum Cap Mkts

Ventum Cap Mkts upgraded shares of Verano (OTCMKTS:VRNOF) to a strong-buy rating in a research note released on Tuesday, Zacks.com reports. Ventum Cap Mkts also issued estimates for Verano’s Q2 2024 earnings at ($0.04) EPS, Q3 2024 earnings at ($0.03) EPS, Q4 2024 earnings at ($0.02) EPS, FY2024 earnings at ($0.09) EPS and FY2025 earnings at ($0.04) EPS.

Separately, Needham & Company LLC reaffirmed a buy rating and issued a $7.00 price target on shares of Verano in a research note on Wednesday, May 8th.

Verano Stock Down 7.2 %

Shares of VRNOF opened at $3.62 on Tuesday. The firm has a market cap of $1.25 billion, a P/E ratio of -11.31 and a beta of 1.24. Verano has a 12 month low of $2.53 and a 12 month high of $7.08. The stock’s 50 day moving average is $3.78 and its two-hundred day moving average is $4.86. The company has a current ratio of 1.01, a quick ratio of 0.61 and a debt-to-equity ratio of 0.39.

Verano (OTCMKTS:VRNOF) last issued its quarterly earnings results on Wednesday, May 8th. The company reported ($0.01) EPS for the quarter, topping the consensus estimate of ($0.08) by $0.07. The company had revenue of $221.31 million during the quarter, compared to analyst estimates of $215.71 million. Verano had a negative net margin of 12.11% and a negative return on equity of 4.28%. Analysts predict that Verano will post -0.15 earnings per share 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.