OrganiGram Holdings Inc (OGI)

[FUNMAN]

OrganiGram Holdings Inc Expected to Earn FY2019 Earnings of $0.07 Per Share (NASDAQ:OGI)
Posted by Steve Reilly on Nov 17th, 2019

https://rivertonroll.com/news/2019/11/17/analysts-set-expectations-for-organigram-holdings-incs-fy2019-earnings-nasdaqogi-updated.html

OrganiGram Holdings Inc (NASDAQ:OGI) – Stock analysts at Cantor Fitzgerald issued their FY2019 earnings per share (EPS) estimates for shares of OrganiGram in a research report issued to clients and investors on Tuesday, November 5th, according to Zacks Investment Research. Cantor Fitzgerald analyst P. Zuanic forecasts that the company will post earnings per share of $0.07 for the year. Cantor Fitzgerald has a “Overweight” rating and a $17.10 price objective on the stock. Cantor Fitzgerald also issued estimates for OrganiGram’s FY2020 earnings at $0.06 EPS.

OGI has been the topic of several other reports. Paradigm Capital set a $8.50 target price on shares of OrganiGram and gave the stock a “buy” rating in a research report on Thursday, October 17th. Oppenheimer began coverage on shares of OrganiGram in a research report on Thursday, September 5th. They set a “market perform” rating on the stock. CIBC began coverage on shares of OrganiGram in a research report on Tuesday, September 24th. They set an “outperformer” rating and a $9.00 target price on the stock. BMO Capital Markets downgraded shares of OrganiGram from an “outperform” rating to a “market perform” rating in a research report on Tuesday, November 12th. Finally, Zacks Investment Research downgraded shares of OrganiGram from a “buy” rating to a “hold” rating in a research report on Thursday. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $9.80.

Shares of OGI opened at $2.29 on Friday. The company has a 50-day moving average of $3.40. The company has a debt-to-equity ratio of 0.14, a quick ratio of 4.61 and a current ratio of 9.05. OrganiGram has a fifty-two week low of $2.25 and a fifty-two week high of $8.44.

Institutional investors have recently added to or reduced their stakes in the business. Ardsley Advisory Partners LP bought a new position in OrganiGram during the 2nd quarter worth approximately $6,437,000. Ancora Advisors LLC bought a new position in OrganiGram during the 2nd quarter worth approximately $2,326,000. Royal Bank of Canada bought a new position in OrganiGram during the 2nd quarter worth approximately $2,116,000. Commonwealth Equity Services LLC bought a new position in OrganiGram during the 2nd quarter worth approximately $569,000. Finally, JW Asset Management LLC bought a new position in OrganiGram during the 2nd quarter worth approximately $7,311,000. Hedge funds and other institutional investors own 13.65% of the company’s stock.

About OrganiGram

OrganiGram Holdings Inc, through its subsidiaries, produces and sells dried cannabis and cannabis oil in Canada. It also offers wholesale shipping of cannabis plant cuttings, dried flowers, blends, pre-rolls, and cannabis oils to retailers and wholesalers. The company also exports its products. It sells its products online, as well as through phone orders.