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Canopy Growth Corporation (CGC) Gains As Market Dips: What You Should Know
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Canopy Growth Corporation (CGC - Free Report) closed the most recent trading day at $2.31, moving +1.32% from the previous trading session. This change outpaced the S&P 500's 0.25% loss on the day. Meanwhile, the Dow lost 0.22%, and the Nasdaq, a tech-heavy index, added 5.91%.
Prior to today's trading, shares of the company had lost 41.99% over the past month. This has lagged the Medical sector's gain of 1.77% and the S&P 500's loss of 2.59% in that time.
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 -$0.13 per share, which would represent year-over-year growth of 40.91%. Meanwhile, our latest consensus estimate is calling for revenue of $84.9 million, down 24.09% from the prior-year quarter.
CGC's full-year Zacks Consensus Estimates are calling for earnings of -$3.61 per share and revenue of $336.91 million. These results would represent year-over-year changes of -1002.5% and -21.82%, respectively.
Investors should also note any recent changes to analyst estimates for Canopy Growth Corporation. 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.
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 remained stagnant. 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 180, putting it in the bottom 29% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Canopy Growth Corporation (CGC) Gains As Market Dips: What You Should Know
Canopy Growth Corporation (CGC - Free Report) closed the most recent trading day at $2.31, moving +1.32% from the previous trading session. This change outpaced the S&P 500's 0.25% loss on the day. Meanwhile, the Dow lost 0.22%, and the Nasdaq, a tech-heavy index, added 5.91%.
Prior to today's trading, shares of the company had lost 41.99% over the past month. This has lagged the Medical sector's gain of 1.77% and the S&P 500's loss of 2.59% in that time.
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 -$0.13 per share, which would represent year-over-year growth of 40.91%. Meanwhile, our latest consensus estimate is calling for revenue of $84.9 million, down 24.09% from the prior-year quarter.
CGC's full-year Zacks Consensus Estimates are calling for earnings of -$3.61 per share and revenue of $336.91 million. These results would represent year-over-year changes of -1002.5% and -21.82%, respectively.
Investors should also note any recent changes to analyst estimates for Canopy Growth Corporation. 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.
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 remained stagnant. 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 180, putting it in the bottom 29% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.