CannTrust (CTST) Posts Quarterly Earnings Results, Misses Estimates By $0.16 EPS

CannTrust (NYSE:CTST) issued its earnings results on Thursday, March 28th. The company reported C($0.20) EPS for the quarter, missing the Zacks’ consensus estimate of C($0.04) by C($0.16), Morningstar.com reports. CannTrust had a negative net margin of 28.09% and a negative return on equity of 7.34%. The business had revenue of C$16.20 million during the quarter, compared to analysts’ expectations of C$20.99 million. CannTrust’s revenue was up 131.4% on a year-over-year basis.

Shares of CTST stock traded down C$0.16 during midday trading on Friday, reaching C$7.11. 1,021,984 shares of the company were exchanged, compared to its average volume of 2,175,074. CannTrust has a 12 month low of C$4.35 and a 12 month high of C$11.97. The company has a market capitalization of $751.09 million, a price-to-earnings ratio of -64.64 and a beta of 4.40. The company has a current ratio of 7.65, a quick ratio of 5.54 and a debt-to-equity ratio of 0.06.

Several hedge funds have recently added to or reduced their stakes in the business. Paragon Capital Management LLC bought a new stake in shares of CannTrust in the 1st quarter worth approximately $54,000. Virtu Financial LLC bought a new stake in shares of CannTrust in the 1st quarter worth approximately $618,000. Legacy Advisors LLC bought a new stake in shares of CannTrust in the 1st quarter worth approximately $1,555,000. Finally, Davis Rea LTD. bought a new stake in shares of CannTrust in the 1st quarter worth approximately $3,846,000. Institutional investors own 0.27% of the company’s stock.

Several equities research analysts recently issued reports on the stock. Zacks Investment Research downgraded shares of CannTrust from a “buy” rating to a “hold” rating in a research note on Wednesday, April 3rd. Bloom Burton reaffirmed an “accumulate” rating on shares of CannTrust in a research note on Friday, March 29th.

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About CannTrust

CannTrust Holdings Inc produces and distributes pharmaceutical grade medical cannabis products in Canada. It sells dried cannabis and oil extractions to the client based on the medication document provided by health care practitioner. The company has a partnership with Gold Coast University Hospital.

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