Yahoo Finance Cronos Group (CRON) Gains But Lags Market: What You Should Know
Cronos Group (CRON) closed the most recent trading day at $16.02, moving +0.25% from the previous trading session. This change lagged the S&P 500's 0.77% gain on the day. Meanwhile, the Dow gained 0.44%, and the Nasdaq, a tech-heavy index, added 1.06%.
Heading into today, shares of the cannabis company had gained 7.25% over the past month, outpacing the Finance sector's gain of 4.26% and the S&P 500's gain of 5.12% in that time.
Wall Street will be looking for positivity from CRON as it approaches its next earnings report date. Our most recent consensus estimate is calling for quarterly revenue of $5.60 million, up 113.04% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $0.03 per share and revenue of $37.51 million, which would represent changes of +137.5% and +210.56%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for CRON. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 196.97% higher within the past month. CRON is currently a Zacks Rank #3 (Hold).
In terms of valuation, CRON is currently trading at a Forward P/E ratio of 599.25. This represents a premium compared to its industry's average Forward P/E of 12.23.
The Financial - Investment Management industry is part of the Finance sector. This group has a Zacks Industry Rank of 93, putting it in the top 37% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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