Analysts Anticipate HEXO Corp. (NASDAQ:HEXO) Will Announce Quarterly Sales of $19.66 Million
Brokerages expect HEXO Corp. (NASDAQ:HEXO) to announce $19.66 million in sales for the current fiscal quarter, Zacks Investment Research reports. Eight analysts have made estimates for HEXO’s earnings, with estimates ranging from $18.04 million to $20.77 million. The firm is expected to issue its next quarterly earnings report on Thursday, September 12th.
According to Zacks, analysts expect that HEXO will report full year sales of $45.07 million for the current financial year, with estimates ranging from $43.50 million to $47.93 million. For the next financial year, analysts forecast that the business will report sales of $260.94 million, with estimates ranging from $138.58 million to $338.18 million. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that cover HEXO.
HEXO (NASDAQ:HEXO) last released its earnings results on Thursday, June 13th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.04) by $0.01. The business had revenue of $11.98 million for the quarter, compared to analyst estimates of $10.96 million.
Several large investors have recently made changes to their positions in HEXO. FIL Ltd purchased a new stake in shares of HEXO in the 1st quarter valued at approximately $4,691,000. Bank of Montreal Can purchased a new stake in shares of HEXO in the 1st quarter valued at approximately $3,439,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp purchased a new stake in shares of HEXO in the 1st quarter valued at approximately $2,949,000. CIBC World Markets Inc. purchased a new stake in shares of HEXO in the 1st quarter valued at approximately $1,676,000. Finally, EP Wealth Advisors LLC purchased a new stake in shares of HEXO in the 1st quarter valued at approximately $1,572,000.
HEXO stock traded down $0.30 during mid-day trading on Monday, reaching $4.85. 5,814,845 shares of the company’s stock were exchanged, compared to its average volume of 3,492,660. HEXO has a twelve month low of $3.02 and a twelve month high of $8.40. The stock’s fifty day simple moving average is $5.84.
HEXO Company Profile
HEXO Corp., through its subsidiary, HEXO Operations Inc, produces, markets, and sells cannabis in Canada. The company offers dried cannabis under the Time of Day and H2 lines; Elixir, a cannabis oil sublingual mist product line; and Decarb, an activated fine-milled cannabis powder product. It provides its products under the HEXO and Hydropothecary brand names.
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