Alliance Global Partners Comments on Verano FY2024 Earnings

Verano Holdings Corp. (OTCMKTS:VRNOF) – Stock analysts at Alliance Global Partners cut their FY2024 earnings estimates for shares of Verano in a research note issued to investors on Thursday, November 7th. Alliance Global Partners analyst A. Grey now expects that the company will earn ($0.25) per share for the year, down from their prior forecast of ($0.20). The consensus estimate for Verano’s current full-year earnings is ($0.18) per share. Alliance Global Partners also issued estimates for Verano’s Q4 2024 earnings at ($0.05) EPS, Q1 2025 earnings at ($0.05) EPS, Q2 2025 earnings at ($0.05) EPS, Q3 2025 earnings at ($0.05) EPS, Q4 2025 earnings at ($0.04) EPS and FY2025 earnings at ($0.19) EPS.

Several other research analysts also recently commented on the stock. Ventum Cap Mkts raised shares of Verano to a “strong-buy” rating in a research note on Tuesday, July 30th. Roth Capital upgraded shares of Verano to a “strong-buy” rating in a research report on Sunday.

Verano Price Performance

Shares of Verano stock opened at $1.90 on Monday. The business’s 50-day moving average price is $3.21 and its 200-day moving average price is $3.75. The firm has a market capitalization of $678.16 million, a PE ratio of -4.63 and a beta of 1.21. Verano has a 12 month low of $1.42 and a 12 month high of $7.08. The company has a current ratio of 0.99, a quick ratio of 0.52 and a debt-to-equity ratio of 0.39.

Verano (OTCMKTS:VRNOF) last released its earnings results on Thursday, November 7th. The company reported ($0.12) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.09). Verano had a negative net margin of 16.31% and a negative return on equity of 7.48%. The firm had revenue of $216.68 million during the quarter, compared to the consensus estimate of $226.64 million.

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.