We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Will Product Innovations Aid Canopy Growth (CGC) in Q2?
Read MoreHide Full Article
Canopy Growth Corporation (CGC - Free Report) is expected to report second-quarter fiscal 2019 results on Nov 14, before the market opens.
In the last reported quarter, the company’s loss per share of 31 cents was wider than the Zacks Consensus Estimate of a loss of 12 cents.
Let’s see, how things are shaping up prior to this announcement.
Factors at Play
Canopy Growth once again is likely to generate a strong top-line contribution from the medical cannabis market in Canada and around the world wherein it holds a leading position. Notably, the company’sSpectrum Cannabis operations are spread in 11 countries across five continents. Of late, the company made a series of strategic acquisitions in Columbia, Lesotho and Czech Republic, which in turn, should help drive its top line.
The company is currently trying to establish cannabis in the world medical market by focusing on research, product development and innovative production capabilities. We are currently looking forward to the company’s progress with its major cannabinoid CBD and THC. Per the company, it is producing cannabis oil products with different ratios of THC and CBD in order to meet the customers’ unique medical needs. Canopy Growth is currently in the process of seeking provisional patents for several areas ranging from insomnia to fibromyalgia pain.
Among its recent developments, the company in the second quarter, launched a brand for the recreational market in Canada called LBS. It boasts a globally recognized family of brands, both in-house and built through partnerships as well with icons in the cannabis space. LBS is the company’s latest addition to this line-up. This brand, while positioning itself as the gold standard in the cannabis industry, should help accelerating sales in Canada. Moreover, this should get reflected in the company’s second-quarter numbers.
Here’s What Our Quantitative Model Predicts
Our proven Zacks model clearly indicates that a company with a favorable Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) has good chances of beating estimates if it also has a positive Earnings ESP. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Canopy Growth has a Zacks Rank #3 (Hold), which increases the predictive power of ESP. However, the company’s Earnings ESP of -47.80% makes surprise prediction difficult. Thus, this combination fails to forecast a positive surprise for the stock this reporting cycle.
Stocks Worth a Look
Following are a few stocks worth considering with the right combination of elements to beat on earnings in the upcoming quarterly results:
CalAmp Corp. (CAMP - Free Report) has an Earnings ESP of +2.28% and a Zacks Rank of 3.
Adobe Inc. (ADBE - Free Report) has an Earnings ESP of +0.19% and a Zacks Rank of 2.
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2020.
Image: Bigstock
Will Product Innovations Aid Canopy Growth (CGC) in Q2?
Canopy Growth Corporation (CGC - Free Report) is expected to report second-quarter fiscal 2019 results on Nov 14, before the market opens.
In the last reported quarter, the company’s loss per share of 31 cents was wider than the Zacks Consensus Estimate of a loss of 12 cents.
Let’s see, how things are shaping up prior to this announcement.
Factors at Play
Canopy Growth once again is likely to generate a strong top-line contribution from the medical cannabis market in Canada and around the world wherein it holds a leading position. Notably, the company’sSpectrum Cannabis operations are spread in 11 countries across five continents. Of late, the company made a series of strategic acquisitions in Columbia, Lesotho and Czech Republic, which in turn, should help drive its top line.
Canopy Growth Corporation Price and EPS Surprise
Canopy Growth Corporation Price and EPS Surprise | Canopy Growth Corporation Quote
The company is currently trying to establish cannabis in the world medical market by focusing on research, product development and innovative production capabilities. We are currently looking forward to the company’s progress with its major cannabinoid CBD and THC. Per the company, it is producing cannabis oil products with different ratios of THC and CBD in order to meet the customers’ unique medical needs. Canopy Growth is currently in the process of seeking provisional patents for several areas ranging from insomnia to fibromyalgia pain.
Among its recent developments, the company in the second quarter, launched a brand for the recreational market in Canada called LBS. It boasts a globally recognized family of brands, both in-house and built through partnerships as well with icons in the cannabis space. LBS is the company’s latest addition to this line-up. This brand, while positioning itself as the gold standard in the cannabis industry, should help accelerating sales in Canada. Moreover, this should get reflected in the company’s second-quarter numbers.
Here’s What Our Quantitative Model Predicts
Our proven Zacks model clearly indicates that a company with a favorable Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) has good chances of beating estimates if it also has a positive Earnings ESP. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Canopy Growth has a Zacks Rank #3 (Hold), which increases the predictive power of ESP. However, the company’s Earnings ESP of -47.80% makes surprise prediction difficult. Thus, this combination fails to forecast a positive surprise for the stock this reporting cycle.
Stocks Worth a Look
Following are a few stocks worth considering with the right combination of elements to beat on earnings in the upcoming quarterly results:
Burlington Stores, Inc. (BURL - Free Report) has an Earnings ESP of +2.38% and a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.
CalAmp Corp. (CAMP - Free Report) has an Earnings ESP of +2.28% and a Zacks Rank of 3.
Adobe Inc. (ADBE - Free Report) has an Earnings ESP of +0.19% and a Zacks Rank of 2.
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2020.
Click here for the 6 trades >>