Green Thumb Industries (GTI) has been making waves in the US market recently, with the company’s stock showing a great deal of promise. The cannabis-focused firm opened at $7.99 on Friday, amidst a volatile climate, but a closer look reveals that it represents an interesting investment opportunity.
With a total market cap of $1.89 billion, GTI boasts a PE ratio of 32.09 and beta of 1.94. These numbers indicate that despite recent fluctuations in the stock market, GTI is still firmly positioned for growth going forward.
Furthermore, the company’s 12-month low of $6.60 and 12-month high of $16.50 reveal impressive improvement in overall performance over the last year.
Other equities research analysts have also shown confidence in GTI’s potential, with Benchmark reaffirming their “buy” rating and setting a target price of $18 on shares of Green Thumb Industries.
Despite some setbacks amongst investors following Piper Sandler lowering shares to “neutral” from an “overweight” rating and Wedbush dropping their price objective substantially from $18 to just $12, most experts are still confident in GTI’s ability to succeed going forward.
In fact, Bloomberg.com ranks its average rating as “Moderate Buy,” indicating optimism amongst industry professionals regarding this particular stock.
Only time will tell whether Green Thumb Industries can continue to attain such impressive gains throughout the coming months- however based on recent indicators and expert analysis alike- it appears that this company could represent one smart investment option in today’s landscape for interested parties willing to take advantage of this unique opportunity.
Cormark Report Highlights Concerns for Green Thumb Industries’ FY2024 EPS Estimates
Green Thumb Industries Inc. has recently received some concerning news from Cormark, one of the leading research and trading firms in North America. In a research report issued to clients and investors on Thursday, May 4th, Cormark reduced their FY2024 EPS estimates for shares of Green Thumb Industries. This information is sure to make potential investors take note before considering investing in this company.
According to Cormark analyst J. Pytlak, he now anticipates that Green Thumb Industries will post earnings per share of $0.32 for the year, down from their previous estimate of $0.36. This reduction in earnings estimates is quite significant, indicating that something may be amiss within the company.
The cannabis industry has already faced various challenges with legal restrictions as it attempts to find its footing in today’s market. While some companies have been able to navigate these challenges and become successful, others have faltered. It remains unclear what factors could be driving this decline in earnings estimates for Green Thumb Industries.
Regardless, this should not negate the fact that Green Thumb Industries aims to manufacture, distribute and sell various cannabis products for medical and adult-use consumers across America. The company offers a range of high-quality cannabis products under recognizable brand names like Beboe, Dogwalkers, Doctor Solomon’s and Good Green.
Investing can often be a daunting task requiring a careful evaluation of all available information relating to a particular company before making any decisions. As such, investors must pay attention to every financial analysis report given on well-established firms like Green Thumb Industries Inc.
Despite concerns raised by Cormark’s report regarding upcoming FY2024 EPS estimates for shares of Green Thumb Industries Inc., it is important to keep an eye out for upcoming reports on the company’s performance that could provide better insight into its current state and future growth potential.
Anyone considering investing in cannabis would be wise indeed first to examine all available facts about Green Thumb Industries before deciding whether to invest in this organization or another within the same market.
