Harrow Health (HROW) Dips More Than Broader Markets: What You Should Know
Harrow Health (HROW) closed at $18.68 in the latest trading session, marking a -1.01% move from the prior day. This change lagged the S&P 500's daily loss of 0.37%. Meanwhile, the Dow lost 0.32%, and the Nasdaq, a tech-heavy index, lost 1.18%.
Prior to today's trading, shares of the pharmaceutical and drug compounding company had lost 9.93% over the past month. This has lagged the Medical sector's loss of 0.17% and the S&P 500's gain of 7.18% in that time.
Harrow Health will be looking to display strength as it nears its next earnings release. On that day, Harrow Health is projected to report earnings of -$0.01 per share, which would represent a year-over-year decline of 200%. Our most recent consensus estimate is calling for quarterly revenue of $29.32 million, up 25.73% from the year-ago period.
HROW's full-year Zacks Consensus Estimates are calling for earnings of $0.06 per share and revenue of $140.6 million. These results would represent year-over-year changes of +20% and +58.7%, respectively.
Investors might also notice recent changes to analyst estimates for Harrow Health. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Harrow Health currently has a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Harrow Health has a Forward P/E ratio of 314.5 right now. Its industry sports an average Forward P/E of 23.24, so we one might conclude that Harrow Health is trading at a premium comparatively.
The Medical Services industry is part of the Medical sector. This group has a Zacks Industry Rank of 117, putting it in the top 47% 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.
To follow HROW in the coming trading sessions, be sure to utilize Zacks.com.
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Harrow Health, Inc. (HROW) : Free Stock Analysis Report
