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Verano Holdings Corp. (VRNOF) Surges 6.5%: Is This an Indication of Further Gains?
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Verano Holdings Corp. (VRNOF - Free Report) shares rallied 6.5% in the last trading session to close at $5.16. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 30.6% gain over the past four weeks.
The company has been rising since Jan 5 following announcement of broadening retail footprint by opening of a new dispensary in Florida.
This company is expected to post quarterly loss of $0.04 per share in its upcoming report, which represents a year-over-year change of -200%. Revenues are expected to be $233.22 million, up 3.2% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Verano Holdings Corp., the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on VRNOF going forward to see if this recent jump can turn into more strength down the road.
Verano Holdings Corp. belongs to the Zacks Medical - Products industry. Another stock from the same industry, Prestige Consumer Healthcare (PBH - Free Report) , closed the last trading session 1.3% higher at $59.53. Over the past month, PBH has returned -4.8%.
Prestige Consumer Healthcare's consensus EPS estimate for the upcoming report has changed +0.6% over the past month to $1.04. Compared to the company's year-ago EPS, this represents no change. Prestige Consumer Healthcare currently boasts a Zacks Rank of #2 (Buy).
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Verano Holdings Corp. (VRNOF) Surges 6.5%: Is This an Indication of Further Gains?
Verano Holdings Corp. (VRNOF - Free Report) shares rallied 6.5% in the last trading session to close at $5.16. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 30.6% gain over the past four weeks.
The company has been rising since Jan 5 following announcement of broadening retail footprint by opening of a new dispensary in Florida.
This company is expected to post quarterly loss of $0.04 per share in its upcoming report, which represents a year-over-year change of -200%. Revenues are expected to be $233.22 million, up 3.2% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Verano Holdings Corp., the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on VRNOF going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Verano Holdings Corp. belongs to the Zacks Medical - Products industry. Another stock from the same industry, Prestige Consumer Healthcare (PBH - Free Report) , closed the last trading session 1.3% higher at $59.53. Over the past month, PBH has returned -4.8%.
Prestige Consumer Healthcare's consensus EPS estimate for the upcoming report has changed +0.6% over the past month to $1.04. Compared to the company's year-ago EPS, this represents no change. Prestige Consumer Healthcare currently boasts a Zacks Rank of #2 (Buy).