CRON.TO - Cronos Group Inc.

Toronto - Toronto Delayed Price. Currency in CAD
9.61
-0.02 (-0.21%)
At close: 4:00PM EST
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Previous Close9.63
Open9.68
Bid9.58 x 0
Ask9.62 x 0
Day's Range9.45 - 9.96
52 Week Range7.97 - 32.95
Volume1454023
Avg. Volume944,070
Market Cap3.3B
Beta (5Y Monthly)3.77
PE Ratio (TTM)7.15
EPS (TTM)N/A
Earnings DateN/A
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateN/A
1y Target EstN/A
  • Yahoo Finance Video

    Cronos misses revenue estimates, hit by oversupply

    Cronos is under pressure after the company reported revenue that came in below analysts' expectations. Yahoo FInance's Akiko Fujita and Emily McCormick discuss on The Ticker.

  • Is Cronos Group Inc. (CRON) A Good Stock To Buy?
    Insider Monkey

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  • Cannabis Industry Introduction
    Investopedia

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  • Benzinga

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  • [video]Don't Fight the Trend on These 3 Cannabis Stocks
    TheStreet.com

    [video]Don't Fight the Trend on These 3 Cannabis Stocks

    Cannabis stocks have seen strong gains this week. On his Mad Money program Thursday night, Jim Cramer said he's not too sure. Everyone expected a lot from the cannabis industry, Cramer admitted, but after being legal in Canada for a year, the opportunity proved to be a lot smaller than many believed.

  • 3 Beaten-Up Cannabis Stocks That Could Rebound in 2020
    TipRanks

    3 Beaten-Up Cannabis Stocks That Could Rebound in 2020

    The vast majority of the Canadian cannabis sector gets beaten down almost every day. The Canadian cannabis sales aren’t living up to expectations after recreational cannabis legalization in October 2018 and the provinces over ordered product during Q2. The vast majority of the sector faced returns and allowances that crushed the sector during the recent Q3 reporting season.Despite a global market still forecasted to top $200 billion in annual sales in the distant future, investors need to focus on the present market conditions in the Canadian cannabis sector as the global opportunities are still mostly limited. The Canadian sector still has major catalysts in 2020 with the Cannabis 2.0 rollout and the eventual retail store expansion in key provinces like Ontario.On the recent earnings call, Canopy Growth forecast the potential for Ontario to open 40 retail stores a month during 2020 after operating with only 24 stores since early April. The big question remains whether the government will actually open up the market to such a large degree.The stock market has been mostly bad in 2019, but investors now need to look at the opportunities in beaten down cannabis stocks. We’ve delved into these three cannabis companies that missed the market in Q3 that investors need to watch for a rebound in 2020:Stock Comparison Tool | TipRanksOrganiGram (OGI)OrganiGram Holdings is down about 70% from the highs above $8 back in May. Last week, the company released a corporate update where revenues were set to miss the mark due to product returns and pricing adjustments.For the June quarter, OrganiGram generated revenues of $24.8 million setting the stage for a big year. Instead, the company forecasts FQ4 revenues of only $16.3 million. Not only did shipments decline sequentially to $20.0 million, but also the company was faced with $3.7 million in provisions.The end result was a Canadian cannabis LP proudly reporting adjusted EBITDA profits for FQ3 suddenly turning into a FQ4 loss. While OrganiGram suggests FQ1 sales are higher than the comparable period in FQ4, the company isn’t an expected leader in the initial rollout of Cannabis 2.0 products.The company forecasts only entering the market when open mid-December with vape pens. Chocolate infused-edibles aren’t expected until the March quarter with beverages not reaching the market until sometime in the June quarter.OrganiGram ended the August period with $47.9 million with an equal amount of debt. For this reason, the company filed a preliminary base-shelf prospectus for up to $175.0 million.The company has a listed market cap of $350 million with analysts now forecasting FY20 sales of $122 million. The valuation is very reasonable for the sector making the stock a buy as OrganiGram raises more cash and once the 2.0 rollout gets into full force around Q1 to Q2.If we step back and look at the analyst consensus, we can see that overall the stock has a ‘Strong Buy’ rating. In the last three months, the stock has received 7 "buy" ratings versus 7 "holds." With an average analyst price target of $8, analysts are projecting upside potential of 225% from the current share price. (See OrganiGram stock analysis on TipRanks)Cronos Group (CRON)The Cronos Group missed revenue estimates for Q3 by over $1.3 million, but the company still grew revenues sequentially. The stock still hit new lows as the cannabis company has failed to generate anything meaningful out of a large cash hoard.For Q3, Cronos generated $12.7 million in net revenues while the market cap is still up at $2.2 billion. The company has only generated $29.4 million in revenues for the nine-month period.Where the company really disappointed investors was selling 8x the kg in the September quarter at half the net revenue per gram. The company ramped up production at no real benefit to shareholders with rates dipping to $3.75 from $7.18 last year.The major catalyst for Cronos Group is a cash rich balance sheet. The company ended the quarter with C$1.5 billion on the balance sheet placing the enterprise value as only $0.7 billion.If the company can wisely use this cash balance to snap up competitors on the cheap and consolidate the industry, Cronos has the ability to invest while other players are cash strapped.CRON has a cautiously optimistic Moderate Buy consensus rating from the Street. This breaks down into 5 "buy," and 2 "hold" ratings in the last three months. We can also see from TipRanks that the average analyst price target is $13.45 - 96% upside from the current share price. (See Cronos stock analysis on TipRanks)Tilray (TLRY)Tilray is the wild card of the group. The company has long pointed towards Cannabis 2.0 via specifically a JV partnership with Anheuser-Busch InBev and their Fluent Beverage Company as a major catalyst for the stock.Due to the insane prices following the IPO where the stock surged over $300, the market is likely more bearish on the stock due to the negativity surrounding the large losses. Similar to Cronos Group, Tilray saw substantial increases in product sold without much of a revenue benefit.Kilogram equivalents sold in Q3 increased six-fold to 10,848 kg. Unfortunately, the average net selling price per gram collapsed to $3.25, down from $6.21 in the prior year period. The end result was a weak gross margin of 31% and the surging adjusted EBITDA loss of $23.5 million.The recently bought U.S. hemp business saw revenues decline sequentially again leading to the thought process of chasing far too many markets leading to under performance in the sector. The company ended the year with only $122 million in cash while burning substantial cash from operations.Tilray appears well positioned with High Park to release a board-based portfolio of cannabis products including CBD beverages, edibles and vape products to tackle the Cannabis 2.0 market. The combination with the InBev JV positions Tilray for catalysts in 2020.The issue is the valuation is actually still far off base. The stock is still worth $2.0 billion and 2020 revenue estimates are only at $316 million. Tilray reported Q3 revenues of $51 million so the market isn’t exactly forecasting substantial growth going forward, especially considering the large EBITDA losses need more revenues to elimiate.Overall, TLRY has drawn optimism mixed with caution when it comes to consensus opinion among sell-side analysts. Out of 9 analysts polled in the last 3 months, 3 are bullish on the stock, while 6 remain sidelined. Importantly, with a potential upside of over 40%, the stock-price forecast stands at $29.57. This suggests that by consensus expectations, for now, the bulls win on Tilray. (See Tilray stock analysis on TipRanks)

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    MarketWatch

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  • Cronos Group Falls After Being Latest Marijuana Stock To Miss Sales Views
    Investor's Business Daily

    Cronos Group Falls After Being Latest Marijuana Stock To Miss Sales Views

    Cronos earnings were positive, but may not be comparable. Sales jumped but missed views, a common problem for the industry.

  • Tilray Stock Choppy On Mixed Earnings, Continuing Bumpy Day For Marijuana Stocks
    Investor's Business Daily

    Tilray Stock Choppy On Mixed Earnings, Continuing Bumpy Day For Marijuana Stocks

    Tilray earnings are on tap late, after mixed Cronos Group earnings. Tilray and Cronos fell while other marijuana stocks were mixed.

  • Benzinga

    BofA: Cronos Group Has Potential To Be Long-Term Cannabis Leader

    Over the last six months, Cronos Group Inc. (NASDAQ: CRON ) shares have fallen by  43.3%. The Analyst Bank of America Merrill Lynch’s Christopher Carey maintained a Buy rating on Cronos Group with a $13 ...

  • Benzinga

    Analyst: Big Cannabis Earnings Week Off To 'Rough Start'

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  • Benzinga

    PreMarket Prep Recap: Earnings From CBS And Cronos, Street's Reaction To Disney+ Launch

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  • Benzinga

    Cronos Group Posts Q3 Revenue of CA$12.7 Million, Launches New CBD Brand PEACE+

    Cronos Group Inc. (NASDAQ: CRON) (TSX: CRON) posted third-quarter net revenue of CA$12.7 million ($9.6 million) Tuesday, up by 238% from CA$3.8 million in the same quarter of 2018. Cronos Group disclosed quarterly basic earnings per share of CA$2.33 and diluted earnings per share of CA$0.53 compared to a loss per basic and diluted share of CA$0.04 in the same quarter of last year.

  • Benzinga

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    TheStreet.com

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  • UPDATE 2-Pot producers Cronos and Tilray report lower prices, soaring expenses
    Reuters

    UPDATE 2-Pot producers Cronos and Tilray report lower prices, soaring expenses

    Cronos Group Inc and Tilray Inc both reported selling prices that nearly halved, while expenses for both the Canadian pot producers soared in the third quarter. Prices for weed have taken a hit in Canada as demand has lagged expectations set last year, when the nation became the first among G7 countries to legalise recreational marijuana. The cannabis industry in the country is also facing a supply glut as companies ramp up production to dominate the nascent industry.

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    Investor's Business Daily

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    A resilient stock market awaits President Trump's speech Tuesday for China trade deal hints. Cronos reports early, with fellow marijuana stock Tilray due late.

  • Reuters

    Pot producers Cronos and Tilray report lower prices, soaring expenses

    Prices for weed have taken a hit in Canada as demand has lagged expectations set last year, when the nation became the first among G7 countries to legalize recreational marijuana. The cannabis industry in the country is also facing a supply glut as companies ramp up production to dominate the nascent industry. Cronos' net product revenue per gram sold outside the United States fell to C$3.75 in the third quarter, while Tilray's average net selling price per gram also nearly halved to $3.25.

  • Pot company Cronos Group posts bigger quarterly loss
    Reuters

    Pot company Cronos Group posts bigger quarterly loss

    Nov 12 (Reuters) - Cronos Group Inc reported a bigger quarterly loss on Tuesday, as the Canadian marijuana producer was weighed down by lower margins and surge in expenses.