HEXO Corp. (NASDAQ:HEXO) Expected to Announce Quarterly Sales of $19.66 Million

Brokerages forecast that HEXO Corp. (NASDAQ:HEXO) will report $19.66 million in sales for the current quarter, Zacks Investment Research reports. Eight analysts have issued estimates for HEXO’s earnings. The lowest sales estimate is $18.04 million and the highest is $20.77 million. The business is expected to issue its next earnings results on Thursday, September 12th.

According to Zacks, analysts expect that HEXO will report full year sales of $45.07 million for the current fiscal year, with estimates ranging from $43.50 million to $47.93 million. For the next financial year, analysts anticipate that the company will report sales of $260.94 million, with estimates ranging from $138.58 million to $338.18 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 HEXO.

HEXO (NASDAQ:HEXO) last posted its quarterly earnings results on Thursday, June 13th. The company reported ($0.03) EPS for the quarter, beating the consensus estimate of ($0.04) by $0.01. The business had revenue of $11.98 million during the quarter, compared to analysts’ expectations of $10.96 million.

Several equities research analysts have commented on HEXO shares. AltaCorp Capital reaffirmed an “outperform” rating on shares of HEXO in a report on Thursday, April 4th. Desjardins reaffirmed a “buy” rating on shares of Horizons Enhcd Inc Eqy Cl E Unt Etf in a report on Thursday, April 25th. CIBC reaffirmed a “market perform” rating on shares of HEXO in a report on Tuesday, June 25th. Bank of America set a $10.00 price target on shares of HEXO and gave the company a “buy” rating in a report on Thursday, June 13th. Finally, Zacks Investment Research raised shares of HAYS PLC/ADR from a “sell” rating to a “hold” rating in a research note on Tuesday, June 18th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $8.63.

NASDAQ:HEXO traded up $0.20 during mid-day trading on Monday, hitting $5.05. The company’s stock had a trading volume of 2,995,951 shares, compared to its average volume of 3,488,974. HEXO has a 1 year low of $3.02 and a 1 year high of $8.40. The business’s fifty day moving average price is $5.84.

Several hedge funds have recently bought and sold shares of the company. FIL Ltd acquired a new stake in HEXO in the 1st quarter valued at about $4,691,000. Bank of Montreal Can acquired a new stake in shares of HEXO during the 1st quarter worth approximately $3,439,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp acquired a new stake in shares of HEXO during the 1st quarter worth approximately $2,949,000. CIBC World Markets Inc. acquired a new stake in shares of HEXO during the 1st quarter worth approximately $1,676,000. Finally, EP Wealth Advisors LLC acquired a new stake in shares of HEXO during the 1st quarter worth approximately $1,572,000.

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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