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Canopy Growth Corporation (CGC) Outperforms Broader Market: What You Need to Know
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In the latest market close, Canopy Growth Corporation (CGC - Free Report) reached $4.41, with a +0.92% movement compared to the previous day. The stock's performance was ahead of the S&P 500's daily gain of 0.22%. On the other hand, the Dow registered a gain of 0.36%, and the technology-centric Nasdaq increased by 0.32%.
Coming into today, shares of the company had lost 14.98% in the past month. In that same time, the Medical sector gained 2.3%, while the S&P 500 gained 1.61%.
Analysts and investors alike will be keeping a close eye on the performance of Canopy Growth Corporation in its upcoming earnings disclosure. The company's earnings per share (EPS) are projected to be -$0.45, reflecting an 87.14% increase from the same quarter last year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $53.48 million, down 28.27% from the year-ago period.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of -$3.27 per share and a revenue of $236.73 million, indicating changes of +93.89% and -25.07%, respectively, from the former year.
Investors should also note any recent changes to analyst estimates for Canopy Growth Corporation. These revisions typically reflect the latest short-term business trends, which can change frequently. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 1.47% lower. Canopy Growth Corporation presently features a Zacks Rank of #3 (Hold).
The Medical - Products industry is part of the Medical sector. Currently, this industry holds a Zacks Industry Rank of 163, positioning it in the bottom 36% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. 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.
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Canopy Growth Corporation (CGC) Outperforms Broader Market: What You Need to Know
In the latest market close, Canopy Growth Corporation (CGC - Free Report) reached $4.41, with a +0.92% movement compared to the previous day. The stock's performance was ahead of the S&P 500's daily gain of 0.22%. On the other hand, the Dow registered a gain of 0.36%, and the technology-centric Nasdaq increased by 0.32%.
Coming into today, shares of the company had lost 14.98% in the past month. In that same time, the Medical sector gained 2.3%, while the S&P 500 gained 1.61%.
Analysts and investors alike will be keeping a close eye on the performance of Canopy Growth Corporation in its upcoming earnings disclosure. The company's earnings per share (EPS) are projected to be -$0.45, reflecting an 87.14% increase from the same quarter last year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $53.48 million, down 28.27% from the year-ago period.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of -$3.27 per share and a revenue of $236.73 million, indicating changes of +93.89% and -25.07%, respectively, from the former year.
Investors should also note any recent changes to analyst estimates for Canopy Growth Corporation. These revisions typically reflect the latest short-term business trends, which can change frequently. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 1.47% lower. Canopy Growth Corporation presently features a Zacks Rank of #3 (Hold).
The Medical - Products industry is part of the Medical sector. Currently, this industry holds a Zacks Industry Rank of 163, positioning it in the bottom 36% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. 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.