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Canopy Growth Corporation (CGC) Stock Sinks As Market Gains: What You Should Know
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Canopy Growth Corporation (CGC - Free Report) closed at $5.23 in the latest trading session, marking a -1.32% move from the prior day. This move lagged the S&P 500's daily gain of 0.21%. Meanwhile, the Dow gained 0.19%, and the Nasdaq, a tech-heavy index, added 0.02%.
Prior to today's trading, shares of the company had lost 34% over the past month. This has lagged the Medical sector's loss of 4.72% and the S&P 500's loss of 8.08% in that time.
Canopy Growth Corporation will be looking to display strength as it nears its next earnings release. On that day, Canopy Growth Corporation is projected to report earnings of -$0.24 per share, which would represent year-over-year growth of 63.64%. Our most recent consensus estimate is calling for quarterly revenue of $105.99 million, down 9.58% from the year-ago period.
Investors might also notice recent changes to analyst estimates for Canopy Growth Corporation. 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.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.79% higher. Canopy Growth Corporation is currently a Zacks Rank #3 (Hold).
The Medical - Products industry is part of the Medical sector. This group has a Zacks Industry Rank of 182, putting it in the bottom 29% 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) Stock Sinks As Market Gains: What You Should Know
Canopy Growth Corporation (CGC - Free Report) closed at $5.23 in the latest trading session, marking a -1.32% move from the prior day. This move lagged the S&P 500's daily gain of 0.21%. Meanwhile, the Dow gained 0.19%, and the Nasdaq, a tech-heavy index, added 0.02%.
Prior to today's trading, shares of the company had lost 34% over the past month. This has lagged the Medical sector's loss of 4.72% and the S&P 500's loss of 8.08% in that time.
Canopy Growth Corporation will be looking to display strength as it nears its next earnings release. On that day, Canopy Growth Corporation is projected to report earnings of -$0.24 per share, which would represent year-over-year growth of 63.64%. Our most recent consensus estimate is calling for quarterly revenue of $105.99 million, down 9.58% from the year-ago period.
Investors might also notice recent changes to analyst estimates for Canopy Growth Corporation. 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.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.79% higher. Canopy Growth Corporation is currently a Zacks Rank #3 (Hold).
The Medical - Products industry is part of the Medical sector. This group has a Zacks Industry Rank of 182, putting it in the bottom 29% 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.