Brokerages Expect HEXO Corp. (NASDAQ:HEXO) to Announce -$0.04 EPS

Wall Street brokerages expect that HEXO Corp. (NASDAQ:HEXO) will post ($0.04) earnings per share for the current fiscal quarter, according to Zacks Investment Research. Six analysts have issued estimates for HEXO’s earnings, with the lowest EPS estimate coming in at ($0.06) and the highest estimate coming in at ($0.03). HEXO posted earnings of ($0.03) per share in the same quarter last year, which would suggest a negative year over year growth rate of 33.3%. The business is scheduled to issue its next quarterly earnings report on Thursday, June 11th.

According to Zacks, analysts expect that HEXO will report full year earnings of ($0.82) per share for the current fiscal year, with EPS estimates ranging from ($1.00) to ($0.29). For the next financial year, analysts forecast that the business will report earnings of ($0.11) per share, with EPS estimates ranging from ($0.21) to ($0.03). Zacks’ earnings per share averages are an average based on a survey of research analysts that cover HEXO.

HEXO (NASDAQ:HEXO) last posted its earnings results on Monday, March 30th. The company reported ($0.08) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.06) by ($0.02). The firm had revenue of $12.89 million for the quarter, compared to the consensus estimate of $12.21 million.

A number of research analysts recently weighed in on HEXO shares. Stifel Nicolaus assumed coverage on shares of HEXO in a research note on Monday, March 9th. They set a “sell” rating and a $1.15 target price on the stock. Roth Capital reduced their price target on shares of HEXO from $1.30 to $1.00 and set a “neutral” rating on the stock in a report on Tuesday, March 31st. Bank of America assumed coverage on shares of HEXO in a report on Tuesday, March 31st. They issued an “underperform” rating on the stock. Zacks Investment Research downgraded shares of HEXO from a “buy” rating to a “hold” rating in a report on Tuesday, May 19th. Finally, MKM Partners reiterated a “hold” rating and issued a $1.00 price target on shares of HEXO in a report on Tuesday, March 31st. Ten equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the stock. HEXO has an average rating of “Hold” and a consensus target price of $1.60.

HEXO traded down $0.05 on Friday, hitting $0.63. The company had a trading volume of 11,988,758 shares, compared to its average volume of 8,321,899. The stock has a fifty day simple moving average of $0.52 and a 200-day simple moving average of $1.24. HEXO has a 52-week low of $0.35 and a 52-week high of $7.03.

Large investors have recently modified their holdings of the stock. ETF Managers Group LLC boosted its position in HEXO by 40.9% in the 1st quarter. ETF Managers Group LLC now owns 20,714,793 shares of the company’s stock valued at $17,336,000 after buying an additional 6,013,180 shares during the period. Morgan Stanley boosted its position in HEXO by 143.4% in the 1st quarter. Morgan Stanley now owns 2,478,918 shares of the company’s stock valued at $2,075,000 after buying an additional 1,460,501 shares during the period. Renaissance Technologies LLC boosted its position in HEXO by 3,990.0% in the 4th quarter. Renaissance Technologies LLC now owns 1,431,500 shares of the company’s stock valued at $2,283,000 after buying an additional 1,396,500 shares during the period. AdvisorShares Investments LLC purchased a new stake in HEXO in the 4th quarter valued at about $438,000. Finally, Jane Street Group LLC purchased a new stake in HEXO in the 4th quarter valued at about $279,000.

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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Earnings History and Estimates for HEXO (NASDAQ:HEXO)

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