In the latest trading session, Cronos Group (CRON) closed at $8.96, marking a -0.99% move from the previous day. This move was narrower than the S&P 500's daily loss of 1.23%. Meanwhile, the Dow lost 1.28%, and the Nasdaq, a tech-heavy index, lost 1.13%.
Coming into today, shares of the cannabis company had lost 17.88% in the past month. In that same time, the Finance sector gained 3.72%, while the S&P 500 gained 1.95%.
Wall Street will be looking for positivity from CRON as it approaches its next earnings report date. In that report, analysts expect CRON to post earnings of -$0.03 per share. This would mark no growth from the year-ago period. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $10.44 million, up 262.57% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$0.07 per share and revenue of $41.44 million, which would represent changes of +12.5% and +243.07%, 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 a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. CRON is currently sporting a Zacks Rank of #3 (Hold).
The Financial - Investment Management industry is part of the Finance sector. This group has a Zacks Industry Rank of 115, putting it in the top 46% 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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