$26.57 Million in Sales Expected for OrganiGram Holdings Inc. (NASDAQ:OGI) This Quarter

Wall Street analysts expect OrganiGram Holdings Inc. (NASDAQ:OGIGet Rating) to post $26.57 million in sales for the current fiscal quarter, according to Zacks. Six analysts have made estimates for OrganiGram’s earnings, with the lowest sales estimate coming in at $25.44 million and the highest estimate coming in at $27.51 million. OrganiGram reported sales of $16.55 million in the same quarter last year, which would indicate a positive year over year growth rate of 60.5%. The firm is expected to report its next earnings results on Monday, January 1st.

According to Zacks, analysts expect that OrganiGram will report full year sales of $102.99 million for the current year, with estimates ranging from $94.81 million to $107.26 million. For the next fiscal year, analysts forecast that the firm will post sales of $143.62 million, with estimates ranging from $124.84 million to $157.94 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for OrganiGram.

OrganiGram (NASDAQ:OGIGet Rating) last issued its earnings results on Tuesday, April 12th. The company reported ($0.01) earnings per share for the quarter, topping the consensus estimate of ($0.03) by $0.02. OrganiGram had a negative return on equity of 12.28% and a negative net margin of 32.87%. During the same period last year, the company posted ($0.09) EPS.

(Ad)

Searching for the next Microcap stocks with disruptive potential? These companies will release their quarterly earnings very soon… And we have found 5 microcap stocks that could see a spike in share price.

A number of brokerages have recently commented on OGI. Stifel Nicolaus lowered their price objective on OrganiGram from C$2.75 to C$2.25 in a report on Thursday, January 13th. Canaccord Genuity Group raised OrganiGram from a “hold” rating to a “speculative buy” rating and increased their price objective for the company from $3.00 to $3.25 in a report on Wednesday, January 12th. Zacks Investment Research raised OrganiGram from a “sell” rating to a “hold” rating in a report on Wednesday, March 30th. Atb Cap Markets raised OrganiGram from a “sector perform” rating to an “outperform” rating in a report on Tuesday, April 12th. Finally, Cantor Fitzgerald lowered their price objective on OrganiGram from $5.70 to $5.30 and set an “overweight” rating on the stock in a report on Wednesday, January 12th. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, OrganiGram has an average rating of “Hold” and an average target price of $3.36.

Hedge funds have recently made changes to their positions in the business. PCG Wealth Advisors LLC bought a new position in shares of OrganiGram during the 4th quarter worth approximately $25,000. Two Sigma Securities LLC bought a new position in shares of OrganiGram during the 3rd quarter worth approximately $35,000. Invesco Ltd. bought a new position in shares of OrganiGram during the 2nd quarter worth approximately $51,000. Gotham Asset Management LLC bought a new position in shares of OrganiGram during the 4th quarter worth approximately $33,000. Finally, Bridgewater Associates LP bought a new position in shares of OrganiGram during the 4th quarter worth approximately $36,000. Institutional investors own 11.78% of the company’s stock.

Shares of OGI stock opened at $1.41 on Friday. OrganiGram has a fifty-two week low of $1.27 and a fifty-two week high of $3.52. The stock’s 50-day moving average is $1.53 and its two-hundred day moving average is $1.77. The firm has a market cap of $442.30 million, a P/E ratio of -15.67 and a beta of 0.26.

OrganiGram Company Profile (Get Rating)

Organigram Holdings Inc, through its subsidiaries, produces and sells cannabis and cannabis-derived products in Canada. It offers medical cannabis products, including cannabis flowers, cannabis oils, and vaporizers for civilian patients and veterans; adult use recreational cannabis under the Edison Cannabis Co, Trail Blazer, SHRED, SHRED’ems, Big Bag O’ Buds, and Monjour brands; and cannabis edibles products and concentrates.

Further Reading

Get a free copy of the Zacks research report on OrganiGram (OGI)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for OrganiGram (NASDAQ:OGI)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to [email protected]

Should you invest $1,000 in OrganiGram right now?

Before you consider OrganiGram, you’ll want to hear this.

MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and OrganiGram wasn’t on the list.

While OrganiGram currently has a “Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.

View The 5 Stocks Here

 


Source link

Leave a Reply

Your email address will not be published.