Sundial Growers Inc. (SNDL) closed at $1.35 in the latest trading session, marking a +1.5% move from the prior day. The stock lagged the S&P 500's daily gain of 2.38%. Meanwhile, the Dow gained 1.95%, and the Nasdaq, a tech-heavy index, added 3.01%.
Coming into today, shares of the company had gained 121.37% in the past month. In that same time, the Medical sector lost 4.82%, while the S&P 500 lost 0.91%.
Wall Street will be looking for positivity from SNDL as it approaches its next earnings report date. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $12.7 million, down 41.07% from the year-ago period.
Any recent changes to analyst estimates for SNDL should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 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 500% higher within the past month. SNDL is holding a Zacks Rank of #3 (Hold) right now.
Valuation is also important, so investors should note that SNDL has a Forward P/E ratio of 33.25 right now. This valuation marks a premium compared to its industry's average Forward P/E of 16.29.
The Medical - Drugs industry is part of the Medical sector. This group has a Zacks Industry Rank of 191, putting it in the bottom 26% 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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