Verano (OTCMKTS:VRNOF) Upgraded to Strong-Buy by Ventum Cap Mkts

Ventum Cap Mkts upgraded shares of Verano (OTCMKTS:VRNOF) to a strong-buy rating in a report released on Tuesday morning, 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 reissued a buy rating and issued a $7.00 target price on shares of Verano in a research note on Wednesday, May 8th.

Verano Stock Down 7.2 %

OTCMKTS:VRNOF opened at $3.62 on Tuesday. The company has a quick ratio of 0.61, a current ratio of 1.01 and a debt-to-equity ratio of 0.39. Verano has a 12-month low of $2.53 and a 12-month high of $7.08. The stock’s fifty day simple moving average is $3.78 and its 200-day simple moving average is $4.86. The firm has a market capitalization of $1.25 billion, a P/E ratio of -11.31 and a beta of 1.24.

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