Sundial Growers Inc. (SNDL) Stock Sinks As Market Gains: What You Should Know
Sundial Growers Inc. (SNDL) closed at $0.91 in the latest trading session, marking a -1.09% move from the prior day. This move lagged the S&P 500's daily gain of 1.4%.
Prior to today's trading, shares of the company had gained 22.25% over the past month. This has outpaced the Medical sector's gain of 2.31% and the S&P 500's gain of 1.07% in that time.
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 $11.64 million, down 20.11% from the year-ago period.
SNDL's full-year Zacks Consensus Estimates are calling for earnings of $0.03 per share and revenue of $48.18 million. These results would represent year-over-year changes of +111.54% and -7.4%, respectively.
Investors might also notice recent changes to analyst estimates for SNDL. Recent revisions tend to reflect the latest near-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. 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. SNDL is holding a Zacks Rank of #3 (Hold) right now.
Digging into valuation, SNDL currently has a Forward P/E ratio of 30.77. This represents a premium compared to its industry's average Forward P/E of 15.99.
The Medical - Drugs industry is part of the Medical sector. This group has a Zacks Industry Rank of 230, putting it in the bottom 10% 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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