Cronos Group (CRON) closed at $15.79 in the latest trading session, marking a -1.86% move from the prior day. This change lagged the S&P 500’s 0.95% loss on the day. Elsewhere, the Dow lost 0.67%, while the tech-heavy Nasdaq lost 1.51%.
Coming into today, shares of the cannabis company had gained 4.62% in the past month. In that same time, the Finance sector gained 2.3%, while the S&P 500 gained 4.32%.
CRON will be looking to display strength as it nears its next earnings release. Our most recent consensus estimate is calling for quarterly revenue of $5.60 million, up 113.04% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $0.03 per share and revenue of $37.51 million. These totals would mark changes of +137.5% and +210.56%, respectively, from last year.
Any recent changes to analyst estimates for CRON should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company’s business outlook.
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, 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. The Zacks Consensus EPS estimate has moved 196.97% higher within the past month. CRON is currently sporting a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that CRON has a Forward P/E ratio of 603.38 right now. For comparison, its industry has an average Forward P/E of 12.18, which means CRON is trading at a premium to the group.
The Financial – Investment Management industry is part of the Finance sector. This group has a Zacks Industry Rank of 104, putting it in the top 41% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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