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Canopy Growth Corporation (CGC) Outpaces Stock Market Gains: What You Should Know
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Canopy Growth Corporation (CGC - Free Report) closed at $48.03 in the latest trading session, marking a +1.91% move from the prior day. The stock outpaced the S&P 500's daily gain of 1.56%. Elsewhere, the Dow gained 1.77%, while the tech-heavy Nasdaq added 2.2%.
Coming into today, shares of the company had gained 75.4% in the past month. In that same time, the Medical sector gained 3.07%, while the S&P 500 gained 6.41%.
Investors will be hoping for strength from CGC as it approaches its next earnings release, which is expected to be February 14, 2019. In that report, analysts expect CGC to post earnings of -$0.14 per share. This would mark a year-over-year decline of 27.27%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $66.09 million, up 286.72% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$1.13 per share and revenue of $200.11 million. These totals would mark changes of -253.13% and +228.29%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for CGC. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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.
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. Over the past month, the Zacks Consensus EPS estimate has moved 28.03% lower. CGC is currently a Zacks Rank #3 (Hold).
The Medical - Products industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 95, which puts it in the top 38% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Canopy Growth Corporation (CGC) Outpaces Stock Market Gains: What You Should Know
Canopy Growth Corporation (CGC - Free Report) closed at $48.03 in the latest trading session, marking a +1.91% move from the prior day. The stock outpaced the S&P 500's daily gain of 1.56%. Elsewhere, the Dow gained 1.77%, while the tech-heavy Nasdaq added 2.2%.
Coming into today, shares of the company had gained 75.4% in the past month. In that same time, the Medical sector gained 3.07%, while the S&P 500 gained 6.41%.
Investors will be hoping for strength from CGC as it approaches its next earnings release, which is expected to be February 14, 2019. In that report, analysts expect CGC to post earnings of -$0.14 per share. This would mark a year-over-year decline of 27.27%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $66.09 million, up 286.72% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$1.13 per share and revenue of $200.11 million. These totals would mark changes of -253.13% and +228.29%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for CGC. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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.
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. Over the past month, the Zacks Consensus EPS estimate has moved 28.03% lower. CGC is currently a Zacks Rank #3 (Hold).
The Medical - Products industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 95, which puts it in the top 38% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.