HEXO (HEXO) Stock Moves -0.14%: What You Should Know
HEXO (HEXO) closed at $7.30 in the latest trading session, marking a -0.14% move from the prior day. This move was narrower than the S&P 500's daily loss of 0.81%. Elsewhere, the Dow lost 0.46%, while the tech-heavy Nasdaq lost 1.69%.
Coming into today, shares of the cannabis producer had gained 10.08% in the past month. In that same time, the Medical sector lost 1.05%, while the S&P 500 gained 3.56%.
HEXO will be looking to display strength as it nears its next earnings release. In that report, analysts expect HEXO to post earnings of -$0.03 per share. This would mark year-over-year growth of 90.63%. Meanwhile, our latest consensus estimate is calling for revenue of $25.46 million, up 97.53% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.09 per share and revenue of $105.25 million. These totals would mark changes of +90.63% and +74.69%, respectively, from last year.
Any recent changes to analyst estimates for HEXO should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 47.2% higher within the past month. HEXO is holding a Zacks Rank of #3 (Hold) right now.
The Medical - Products industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 157, which puts it in the bottom 39% of all 250+ industries.
The Zacks Industry Rank includes 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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