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Canopy Growth Corporation (CGC) Stock Sinks As Market Gains: What You Should Know
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In the latest trading session, Canopy Growth Corporation (CGC - Free Report) closed at $2.38, marking a -0.42% move from the previous day. This change lagged the S&P 500's 2.28% gain on the day. Elsewhere, the Dow gained 2.13%, while the tech-heavy Nasdaq added 5.02%.
Coming into today, shares of the company had lost 22.65% in the past month. In that same time, the Medical sector gained 0.62%, while the S&P 500 lost 4.61%.
Wall Street will be looking for positivity from Canopy Growth Corporation as it approaches its next earnings report date. The company is expected to report EPS of -$0.13, up 40.91% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $84.9 million, down 24.09% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$3.61 per share and revenue of $336.91 million. These totals would mark changes of -1002.5% and -21.82%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for Canopy Growth Corporation. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Canopy Growth Corporation currently has a Zacks Rank of #3 (Hold).
The Medical - Products industry is part of the Medical sector. This group has a Zacks Industry Rank of 152, putting it in the bottom 40% 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) Stock Sinks As Market Gains: What You Should Know
In the latest trading session, Canopy Growth Corporation (CGC - Free Report) closed at $2.38, marking a -0.42% move from the previous day. This change lagged the S&P 500's 2.28% gain on the day. Elsewhere, the Dow gained 2.13%, while the tech-heavy Nasdaq added 5.02%.
Coming into today, shares of the company had lost 22.65% in the past month. In that same time, the Medical sector gained 0.62%, while the S&P 500 lost 4.61%.
Wall Street will be looking for positivity from Canopy Growth Corporation as it approaches its next earnings report date. The company is expected to report EPS of -$0.13, up 40.91% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $84.9 million, down 24.09% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$3.61 per share and revenue of $336.91 million. These totals would mark changes of -1002.5% and -21.82%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for Canopy Growth Corporation. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Canopy Growth Corporation currently has a Zacks Rank of #3 (Hold).
The Medical - Products industry is part of the Medical sector. This group has a Zacks Industry Rank of 152, putting it in the bottom 40% 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.