uploads///green _

CannTrust Gets Downgraded after Its 4Q Earnings

By

Apr. 1 2019, Published 8:04 a.m. ET

CannTrust disappoints

Analysts downgraded CannTrust (CTST) after its fourth-quarter earnings. Analysts had high expectations for the company. The company’s sales were estimated to be 21.2 million Canadian dollars at the time of the earnings report. However, CannTrust fell short with actual sales of 16.2 million Canadian dollars—a negative 23% surprise. The company was also expected to report an EPS of 0.03 Canadian dollars per share. CannTrust reported a loss per share of 0.08 Canadian dollars per share.

Article continues below advertisement

Analysts’ downgrades

Analysts weren’t happy with CannTrust’s performance. As a result, the stock received downgrades. Cormark Securities cut CannTrust’s rating to “market perform” from its previous “buy” rating. A “market perform” rating is similar to a “neutral” or “hold” recommendation. In the above chart, you can see that in the current month, two analysts have a “hold” recommendation on CannTrust. None of the analysts had a “hold” recommendations the previous month.

Among the 12 analysts covering the stock, the overall recommendation for CannTrust was still a “buy.” Six analysts had a “buy” recommendation for CannTrust. Four analysts maintained their “strong buy” recommendation month-over-month.

CannTrust’s peers (HMMJ) including Aurora Cannabis (ACB), Canopy Growth (WEED), and Aphria (APHA) all had a “buy” recommendation in March.

Advertisement

More From Market Realist

  • CONNECT with Market Realist
  • Link to Facebook
  • Link to Twitter
  • Link to Instagram
  • Link to Email Subscribe
Market Realist Logo
Do Not Sell My Personal Information

© Copyright 2021 Market Realist. Market Realist is a registered trademark. All Rights Reserved. People may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.