We use cookies to understand how you use our site and to improve your experience.
This includes personalizing content and advertising.
By pressing "Accept All" or closing out of this banner, you consent to the use of all cookies and similar technologies and the sharing of information they collect with third parties.
You can reject marketing cookies by pressing "Deny Optional," but we still use essential, performance, and functional cookies.
In addition, whether you "Accept All," Deny Optional," click the X or otherwise continue to use the site, you accept our Privacy Policy and Terms of Service, revised from time to time.
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.
Canopy Growth Corporation (CGC) Gains But Lags Market: What You Should Know
Read MoreHide Full Article
Canopy Growth Corporation (CGC - Free Report) closed at $2.61 in the latest trading session, marking a +0.77% move from the prior day. The stock lagged the S&P 500's daily gain of 2.76%. At the same time, the Dow added 2.43%, and the tech-heavy Nasdaq gained 0.13%.
Coming into today, shares of the company had lost 23.15% in the past month. In that same time, the Medical sector gained 5.69%, while the S&P 500 gained 4.44%.
Wall Street will be looking for positivity from Canopy Growth Corporation as it approaches its next earnings report date. On that day, Canopy Growth Corporation is projected to report earnings of -$0.19 per share, which would represent a year-over-year decline of 46.15%. Our most recent consensus estimate is calling for quarterly revenue of $88.17 million, down 30.32% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.70 per share and revenue of $393.77 million. These totals would mark changes of -275% and -8.63%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for Canopy Growth Corporation. 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.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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.
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 3.92% higher. Canopy Growth Corporation is currently sporting a Zacks Rank of #3 (Hold).
The Medical - Products industry is part of the Medical sector. This group has a Zacks Industry Rank of 89, putting it in the top 36% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow CGC in the coming trading sessions, be sure to utilize Zacks.com.
View the Zacks #1 Rank List
Image: Bigstock
Canopy Growth Corporation (CGC) Gains But Lags Market: What You Should Know
Canopy Growth Corporation (CGC - Free Report) closed at $2.61 in the latest trading session, marking a +0.77% move from the prior day. The stock lagged the S&P 500's daily gain of 2.76%. At the same time, the Dow added 2.43%, and the tech-heavy Nasdaq gained 0.13%.
Coming into today, shares of the company had lost 23.15% in the past month. In that same time, the Medical sector gained 5.69%, while the S&P 500 gained 4.44%.
Wall Street will be looking for positivity from Canopy Growth Corporation as it approaches its next earnings report date. On that day, Canopy Growth Corporation is projected to report earnings of -$0.19 per share, which would represent a year-over-year decline of 46.15%. Our most recent consensus estimate is calling for quarterly revenue of $88.17 million, down 30.32% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.70 per share and revenue of $393.77 million. These totals would mark changes of -275% and -8.63%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for Canopy Growth Corporation. 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.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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.
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 3.92% higher. Canopy Growth Corporation is currently sporting a Zacks Rank of #3 (Hold).
The Medical - Products industry is part of the Medical sector. This group has a Zacks Industry Rank of 89, putting it in the top 36% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow CGC in the coming trading sessions, be sure to utilize Zacks.com.