Investing

Earnings Previews: Airbnb, Fisker, Nikola, Salesforce, Cinemark, Cronos and DraftKings

Cinemark shares traded at around $24.20 at the noon hour Wednesday, in a 52-week range of $5.71 to $29.03. The consensus price target on the stock is $19.67, well below the current trading price.

The company is expected to post a full-year loss of $2.80 per share in 2022 before reporting EPS of $0.82 in 2023.

Cronos

Also reporting results before markets open Friday is Cronos Group Inc. (NASDAQ: CRON). Like most other publicly traded marijuana growers, the company’s stock got a boost from the U.S. elections in November, and shares have jumped 63% since January, after closing 2020 essentially flat.

The company expects to have lab-grown cannabis products available later this year, a development that would reduce the costs of producing both psychotropic marijuana and cannabidiol (CBD) for pennies per gram instead of farmed costs of more than $1.00 per gram.

Analysts expect Cronos to post a net loss per share of $0.06 for the quarter and EPS of $0.03 for the full year. Both are much worse than year-ago totals of $0.13 in fourth-quarter EPS and full-year earnings of $2.66 per share. Revenue is forecast up nearly 80% in the quarter and about 81% for the year. Cronos is expected to post a loss of $0.23 per share in 2021.

DraftKings

In late April last year, DraftKings Inc. (NASDAQ: DKNG) came public through a reverse merger with a blank-check company. Since the completion of the merger, the stock has added nearly 210% to its value. DraftKings is a pure-play online gambling stock, and it was included in our January review of online gambling stocks.

Analysts expect the company to post a fourth-quarter net loss of $0.47 per share on revenue of $232.4 million. For the year, analysts believe the company will lose $1.95 per share on revenue of $552.8 million. The outlook for the current fiscal year calls for a loss per share of $1.29 and $870 million in revenue.

The stock traded about $3 below its consensus price target of $63.44 on Wednesday, implying an upside potential of around 4.7%. Using the high price target of $100 per share, the upside is around 37%. DraftKings is not expected to post a profit in 2022 either.