Cronos Group (CRON - Free Report) closed at $21.14 in the latest trading session, marking a -1.08% move from the prior day. This change lagged the S&P 500's 0.7% gain on the day. Meanwhile, the Dow gained 0.58%, and the Nasdaq, a tech-heavy index, added 0.69%.
Prior to today's trading, shares of the cannabis company had gained 8.64% over the past month. This has outpaced the Finance sector's gain of 0.56% and the S&P 500's gain of 1.95% in that time.
Wall Street will be looking for positivity from CRON as it approaches its next earnings report date. This is expected to be March 26, 2019. On that day, CRON is projected to report earnings of -$0.02 per share, which would represent a year-over-year decline of 300%. Meanwhile, our latest consensus estimate is calling for revenue of $6.70 million, up 427.56% from the prior-year quarter.
Any recent changes to analyst estimates for CRON should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 52.38% lower. CRON is currently a Zacks Rank #3 (Hold).
Investors should also note CRON's current valuation metrics, including its Forward P/E ratio of 427.4. This valuation marks a premium compared to its industry's average Forward P/E of 10.91.
The Financial - Investment Management industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 102, which puts it in the top 40% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.