Zacks: Brokerages Expect Greenlane Holdings (NASDAQ:GNLN) Will Post Quarterly Sales of $49.35 Million
Brokerages predict that Greenlane Holdings (NASDAQ:GNLN) will post $49.35 million in sales for the current quarter, Zacks reports. Two analysts have made estimates for Greenlane’s earnings. The lowest sales estimate is $46.70 million and the highest is $52.00 million. The company is expected to announce its next earnings report on Monday, January 1st.
On average, analysts expect that Greenlane will report full year sales of $214.40 million for the current year, with estimates ranging from $210.20 million to $218.60 million. For the next financial year, analysts forecast that the firm will report sales of $281.65 million, with estimates ranging from $280.29 million to $283.00 million. Zacks’ sales calculations are an average based on a survey of sell-side analysts that cover Greenlane.
Several equities analysts recently weighed in on the company. Canaccord Genuity lowered Magellan Aerospace from a “buy” rating to a “hold” rating and cut their price target for the company from C$21.00 to C$20.00 in a research note on Monday, May 13th. LADENBURG THALM/SH SH lowered PennantPark Investment from a “buy” rating to a “neutral” rating in a research note on Monday, May 13th. Northland Securities initiated coverage on Greenlane in a research note on Monday, May 13th. They set an “outperform” rating and a $23.00 price objective for the company. Cowen reiterated a “buy” rating on shares of Alector in a research note on Monday, May 13th. Finally, Roth Capital set a $10.00 price objective on Savara and gave the stock a “hold” rating in a research note on Tuesday, May 14th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $22.10.
Shares of Greenlane stock traded down $0.23 on Friday, hitting $7.77. The company’s stock had a trading volume of 267,798 shares, compared to its average volume of 346,933. Greenlane has a 1 year low of $7.39 and a 1 year high of $29.00. The firm’s fifty day moving average is $12.20.
Greenlane Holdings, Inc distribute consumption accessories and vaporization products to wholesale and retail customers in the United States and Canada. The company offers vaporizers and parts, cleaning products, grinders and storage containers, pipes, rolling papers, and customized lines of specialty packaging.
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