Cronos Group (CRON) closed the most recent trading day at $13.81, moving -0.79% from the previous trading session. This change was narrower than the S&P 500's 1.09% loss on the day. Meanwhile, the Dow lost 1.23%, and the Nasdaq, a tech-heavy index, lost 1.19%.
Prior to today's trading, shares of the cannabis company had lost 10.25% over the past month. This has lagged the Finance sector's gain of 1.01% and the S&P 500's gain of 2.62% in that time.
CRON will be looking to display strength as it nears its next earnings release, which 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.
For the full year, our Zacks Consensus Estimates are projecting earnings of $0.03 per share and revenue of $36.74 million, which would represent changes of +137.5% and +204.21%, respectively, from the prior 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. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an 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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. CRON is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, CRON is currently trading at a Forward P/E ratio of 522. This represents a premium compared to its industry's average Forward P/E of 11.97.
The Financial - Investment Management industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 73, which puts it in the top 29% 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.
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