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Canopy Growth Corporation (CGC) Outpaces Stock Market Gains: What You Should Know
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In the latest trading session, Canopy Growth Corporation (CGC - Free Report) closed at $2.33, marking a +1.75% move from the previous day. This move outpaced the S&P 500's daily gain of 0.59%. Meanwhile, the Dow gained 0.53%, and the Nasdaq, a tech-heavy index, added 0.45%.
Coming into today, shares of the company had lost 34.57% in the past month. In that same time, the Medical sector gained 2.22%, while the S&P 500 lost 4.33%.
Investors will be hoping for strength from Canopy Growth Corporation as it approaches its next earnings release. On that day, Canopy Growth Corporation is projected to report earnings of -$0.13 per share, which would represent year-over-year growth of 40.91%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $84.9 million, down 24.09% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$3.61 per share and revenue of $336.91 million, which would represent changes of -1002.5% and -21.82%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Canopy Growth Corporation. 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.
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.
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. Within the past 30 days, our consensus EPS projection remained stagnant. Canopy Growth Corporation currently has a Zacks Rank of #3 (Hold).
The Medical - Products industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 189, which puts it in the bottom 25% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Canopy Growth Corporation (CGC) Outpaces Stock Market Gains: What You Should Know
In the latest trading session, Canopy Growth Corporation (CGC - Free Report) closed at $2.33, marking a +1.75% move from the previous day. This move outpaced the S&P 500's daily gain of 0.59%. Meanwhile, the Dow gained 0.53%, and the Nasdaq, a tech-heavy index, added 0.45%.
Coming into today, shares of the company had lost 34.57% in the past month. In that same time, the Medical sector gained 2.22%, while the S&P 500 lost 4.33%.
Investors will be hoping for strength from Canopy Growth Corporation as it approaches its next earnings release. On that day, Canopy Growth Corporation is projected to report earnings of -$0.13 per share, which would represent year-over-year growth of 40.91%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $84.9 million, down 24.09% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$3.61 per share and revenue of $336.91 million, which would represent changes of -1002.5% and -21.82%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Canopy Growth Corporation. 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.
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.
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. Within the past 30 days, our consensus EPS projection remained stagnant. Canopy Growth Corporation currently has a Zacks Rank of #3 (Hold).
The Medical - Products industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 189, which puts it in the bottom 25% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.