Cresco Labs Inc. (CRLBF) Flat As Market Sinks: What You Should Know

The latest trading session saw Cresco Labs Inc. (CRLBF) ending at $2, denoting no adjustment from its last day's close. This change was narrower than the S&P 500's daily loss of 1.2%. On the other hand, the Dow registered a loss of 0.65%, and the technology-centric Nasdaq decreased by 1.79%.

Shares of the company have appreciated by 5.82% over the course of the past month, outperforming the Medical sector's loss of 6.57% and the S&P 500's loss of 0.85%.

Market participants will be closely following the financial results of Cresco Labs Inc. in its upcoming release. On that day, Cresco Labs Inc. is projected to report earnings of -$0.02 per share, which would represent year-over-year growth of 77.78%. At the same time, our most recent consensus estimate is projecting a revenue of $183.31 million, reflecting a 5.61% fall from the equivalent quarter last year.

For the full year, the Zacks Consensus Estimates are projecting earnings of -$0.07 per share and revenue of $743.73 million, which would represent changes of +58.82% and -3.52%, respectively, from the prior year.

It's also important for investors to be aware of any recent modifications to analyst estimates for Cresco Labs Inc. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.

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. Over the last 30 days, the Zacks Consensus EPS estimate has moved 4.98% higher. Cresco Labs Inc. is holding a Zacks Rank of #2 (Buy) right now.

The Medical - Products industry is part of the Medical sector. This industry, currently bearing a Zacks Industry Rank of 152, finds itself in the bottom 40% echelons of all 250+ industries.

The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.

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Cresco Labs Inc. (CRLBF) : Free Stock Analysis Report

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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