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Cronos Group (CRON) Stock Sinks As Market Gains: What You Should Know

Zacks Equity Research

In the latest trading session, Cronos Group (CRON) closed at $10.96, marking a -1.7% move from the previous day. This change lagged the S&P 500's 0.03% gain on the day. Meanwhile, the Dow gained 0.13%, and the Nasdaq, a tech-heavy index, lost 0.11%.

Coming into today, shares of the cannabis company had lost 5.11% in the past month. In that same time, the Finance sector gained 5.13%, while the S&P 500 gained 4.17%.

Investors will be hoping for strength from CRON as it approaches its next earnings release. The company is expected to report EPS of -$0.03, unchanged from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $10.44 million, up 262.57% from the prior-year quarter.

Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.07 per share and revenue of $41.44 million. These totals would mark changes of +12.5% and +243.07%, respectively, from last year.

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Investors might also notice recent changes to analyst estimates for CRON. 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.

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. CRON is currently a Zacks Rank #3 (Hold).

The Financial - Investment Management industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 76, which puts it in the top 30% 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.

You can find more information on all of these metrics, and much more, on Zacks.com.


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