TD Increases Cronos Group (TSE:CRON) Price Target to C$6.00

Cronos Group (TSE:CRON) had its price objective raised by TD from C$5.50 to C$6.00 in a report released on Monday,BayStreet.CA reports. The firm presently has a “buy” rating on the stock. TD’s price target would suggest a potential upside of 42.86% from the company’s previous close.

Cronos Group Trading Down 2.8%

TSE:CRON traded down C$0.12 during trading hours on Monday, hitting C$4.20. 177,015 shares of the stock were exchanged, compared to its average volume of 168,832. The company has a market capitalization of C$1.55 billion, a P/E ratio of 22.11, a price-to-earnings-growth ratio of 0.12 and a beta of 1.13. The company has a quick ratio of 24.01, a current ratio of 21.87 and a debt-to-equity ratio of 0.12. The company’s 50 day moving average is C$3.91 and its two-hundred day moving average is C$3.71. Cronos Group has a twelve month low of C$3.23 and a twelve month high of C$4.66.

Cronos Group (TSE:CRON) last released its earnings results on Monday, May 11th. The company reported C$0.06 EPS for the quarter. The company had revenue of C$62.86 million during the quarter. Cronos Group had a negative return on equity of 0.19% and a negative net margin of 1.29%. On average, sell-side analysts anticipate that Cronos Group will post -0.26 earnings per share for the current fiscal year.

Cronos Group Company Profile

Cronos Group, headquartered in Toronto, Canada cultivates and sells medicinal and recreational cannabis through its medicinal brand, Peace Naturals, and its two recreational brands, Cove and Spinach. Although it primarily operates in Canada, Cronos exports medical cannabis to Poland and Germany. In addition, it has entered joint ventures in Israel, Colombia, and Australia to drive further international cultivation and distribution growth. In the U.S. the company directly sells hemp-derived CBD and has an option to acquire 10.5% of U.S.