In the latest trading session, Cronos Group (CRON - Free Report) closed at $15.29, marking a -1.55% move from the previous day. This change lagged the S&P 500's daily gain of 0.45%. At the same time, the Dow added 0.29%, and the tech-heavy Nasdaq gained 0.75%.
Prior to today's trading, shares of the cannabis company had lost 8.49% over the past month. This has lagged the Finance sector's gain of 3.37% and the S&P 500's gain of 3.84% 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 August 8, 2019. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $5.64 million, up 114.56% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $0.03 per share and revenue of $36.74 million. These totals would mark changes of +137.5% and +204.21%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for CRON. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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. The Zacks Consensus EPS estimate remained stagnant within the past month. CRON is currently a Zacks Rank #3 (Hold).
Investors should also note CRON's current valuation metrics, including its Forward P/E ratio of 582.38. This valuation marks a premium compared to its industry's average Forward P/E of 12.38.
The Financial - Investment Management industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 91, which puts it in the top 36% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.