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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 $27.53 in the latest trading session, marking a +0.44% move from the prior day. The stock outpaced the S&P 500's daily gain of 0.18%.
Prior to today's trading, shares of the company had lost 15.82% over the past month. This has lagged the Medical sector's gain of 1.44% and the S&P 500's gain of 6.99% in that time.
CGC will be looking to display strength as it nears its next earnings release. On that day, CGC is projected to report earnings of -$0.18 per share, which would represent year-over-year growth of 84.48%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $126.19 million, up 56.84% from the year-ago period.
Any recent changes to analyst estimates for CGC should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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 6.46% lower within the past month. 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 204, which puts it in the bottom 20% 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 $27.53 in the latest trading session, marking a +0.44% move from the prior day. The stock outpaced the S&P 500's daily gain of 0.18%.
Prior to today's trading, shares of the company had lost 15.82% over the past month. This has lagged the Medical sector's gain of 1.44% and the S&P 500's gain of 6.99% in that time.
CGC will be looking to display strength as it nears its next earnings release. On that day, CGC is projected to report earnings of -$0.18 per share, which would represent year-over-year growth of 84.48%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $126.19 million, up 56.84% from the year-ago period.
Any recent changes to analyst estimates for CGC should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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 6.46% lower within the past month. 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 204, which puts it in the bottom 20% 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.