Sundial Growers Inc. (SNDL) Outpaces Stock Market Gains: What You Should Know
In the latest trading session, Sundial Growers Inc. (SNDL) closed at $0.52, marking a +1.53% move from the previous day. The stock outpaced the S&P 500's daily gain of 1.5%. Elsewhere, the Dow gained 0.28%, while the tech-heavy Nasdaq added 0.52%.
Heading into today, shares of the company had gained 11.21% over the past month, outpacing the Medical sector's loss of 2.09% and the S&P 500's loss of 3.75% in that time.
Sundial Growers Inc. will be looking to display strength as it nears its next earnings release.
Investors should also note any recent changes to analyst estimates for Sundial Growers Inc.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.
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. The Zacks Consensus EPS estimate remained stagnant within the past month. Sundial Growers Inc. is currently a Zacks Rank #3 (Hold).
Digging into valuation, Sundial Growers Inc. currently has a Forward P/E ratio of 51.01. For comparison, its industry has an average Forward P/E of 15.69, which means Sundial Growers Inc. is trading at a premium to the group.
The Medical - Drugs industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 159, which puts it in the bottom 38% 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 SNDL in the coming trading sessions, be sure to utilize Zacks.com.
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