CannTrust’s earnings results
CannTrust (CNTTF) reported its earnings last week on November 14. The company reported revenue of 12.6 million Canadian dollars, which beat analysts’ estimate of 11.8 million Canadian dollars. The company also managed to report positive net income of 0.4 million Canadian dollars compared to analysts’ net loss estimate of 2.7 million Canadian dollars. The stock reacted positively to the earnings but continued to decline over the following days.
The consensus mean analyst price target for CannTrust after the earnings was raised to 20.3 Canadian dollars from 18.4 Canadian dollars a month ago in October. Similarly, the consensus median price target also increased to 15.5 Canadian dollars from 14.25 Canadian dollars over the same period. On November 19, CannTrust stock closed at 6 Canadian dollars, which would mean a return in excess of 100% if the stock were to hit the price targets.
While the price target was raised, the recommendations remained unchanged. In November, three analysts had a “strong buy” on the stock, which remained unchanged from a month ago. Similarly, six analysts had a “buy” recommendation, which also remained unchanged from a month ago.