Yahoo Finance HEXO (HEXO) Flat As Market Gains: What You Should Know
HEXO (HEXO) closed at $2.19 in the latest trading session, marking no change from the prior day. This move lagged the S&P 500's daily gain of 0.29%. Elsewhere, the Dow gained 0.11%, while the tech-heavy Nasdaq added 0.44%.
Heading into today, shares of the cannabis producer had gained 3.3% over the past month, lagging the Medical sector's gain of 5.29% and outpacing the S&P 500's gain of 1.51% in that time.
Investors will be hoping for strength from HEXO as it approaches its next earnings release, which is expected to be December 16, 2019.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.24 per share and revenue of $83.74 million. These totals would mark changes of -26.32% and +86.74%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for HEXO. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 2.25% lower 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 143, which puts it in the bottom 44% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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