HEXO Corp. (HEXO) Expected to Announce Quarterly Sales of $10.86 Million

Wall Street analysts forecast that HEXO Corp. (NASDAQ:HEXO) will report sales of $10.86 million for the current fiscal quarter, according to Zacks. Six analysts have provided estimates for HEXO’s earnings. The lowest sales estimate is $9.22 million and the highest is $13.24 million. The firm is scheduled to announce its next earnings results on Wednesday, June 12th.

According to Zacks, analysts expect that HEXO will report full-year sales of $48.48 million for the current fiscal year, with estimates ranging from $44.28 million to $58.25 million. For the next financial year, analysts expect that the company will report sales of $267.13 million, with estimates ranging from $166.47 million to $362.68 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that follow HEXO.

HEXO (NASDAQ:HEXO) last announced its earnings results on Wednesday, March 13th. The company reported ($0.02) EPS for the quarter, beating the consensus estimate of ($0.04) by $0.02. The company had revenue of $10.09 million for the quarter, compared to analysts’ expectations of $10.01 million.

A number of equities research analysts have weighed in on HEXO shares. CIBC started coverage on HEXO in a research note on Tuesday, February 19th. They set an “outperform” rating and a $7.00 price objective for the company. Oppenheimer started coverage on HEXO in a research note on Tuesday, February 19th. They set an “outperform” rating and a $7.00 price objective for the company. Seaport Global Securities started coverage on HEXO in a research note on Thursday, February 21st. They set a “buy” rating and a $12.00 price objective for the company. Beacon Securities restated a “buy” rating on shares of HEXO in a research note on Tuesday, February 19th. Finally, Jefferies Financial Group started coverage on HEXO in a research note on Monday, February 25th. They set an “underperform” rating for the company. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $8.67.

NASDAQ HEXO traded down $0.31 during mid-day trading on Monday, reaching $5.99. 3,807,645 shares of the company’s stock traded hands, compared to its average volume of 2,485,821. HEXO has a 1-year low of $3.02 and a 1-year high of $7.33.

About HEXO

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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