Cronos Group (NASDAQ:CRON) closed the most recent trading day at $18.15, dropping 1.79% from the previous trading session. This change lagged the S&P 500’s 0.15% loss on the day. Elsewhere, the Dow Jones Industrial Average gained 0.21%, while the tech-heavy Nasdaq Composite lost 0.81%.
At the start of Jan. 29, CRON stock had gained 77.86% over the past month, outpacing the Finance sector’s gain of 8.81% and the S&P 500’s gain of 6.55% in that time.
Investors will be hoping for strength from CRON stock as it approaches its next earnings release, which is expected to be April 29, 2019. The company is expected to report an earnings-per-share loss of 1 cent, down 200% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $7.46 million, up 487.4% from the year-ago period.
Investors should also note any recent changes to analyst estimates for Cronos stock. 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.
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 No. 1 (Strong Buy) to No. 5 (Strong Sell), has an impressive outside-audited track record of outperformance, with No. 1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 110% higher. CRON stock is currently sporting a Zacks Rank of No. 5 (Strong Sell).
Bottom Line on CRON Stock
Investors should also note Cronos stock’s current valuation metrics, including its forward price-to-earnings ratio of 176. This valuation marks a premium compared to its industry’s average forward P/E of 10.25.
The Financial – Investment Management industry is part of the Finance sector. This group has a Zacks Industry Rank of 238, putting it in the bottom 8% of all 250+ industries.
The Zacks Industry Rank is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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