Cronos Group (CRON) closed the most recent trading day at $16.59, moving +1.9% from the previous trading session. This change outpaced the S&P 500's 0.22% loss on the day. Elsewhere, the Dow lost 0.22%, while the tech-heavy Nasdaq lost 0.23%.
Prior to today's trading, shares of the cannabis company had lost 19.57% over the past month. This has lagged the Finance sector's gain of 5.18% and the S&P 500's gain of 4.87% in that time.
Wall Street will be looking for positivity from CRON as it approaches its nex t earnings report date. This is expected to be May 9, 2019. The company is expected to report EPS of -$0.03, down 200% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $4.90 million, up 110.3% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$0.03 per share and revenue of $53.56 million, which would represent changes of +62.5% and +343.41%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for CRON. These revisions typically reflect the latest short-term business trends, which can change frequently. 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. 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. Within the past 30 days, our consensus EPS projection has moved 165% lower. CRON currently has a Zacks Rank of #5 (Strong Sell).
The Financial - Investment Management industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 33, which puts it in the top 13% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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