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Canopy Growth Corporation (CGC) Stock Declines While Market Improves: Some Information for Investors
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Canopy Growth Corporation (CGC - Free Report) closed the most recent trading day at $1.19, moving -4.03% from the previous trading session. This move lagged the S&P 500's daily gain of 0.96%. Elsewhere, the Dow gained 0.89%, while the tech-heavy Nasdaq added 0.94%.
The company's stock has dropped by 32.24% in the past month, falling short of the Medical sector's loss of 0.85% and the S&P 500's gain of 0.5%.
The investment community will be paying close attention to the earnings performance of Canopy Growth Corporation in its upcoming release. The company's earnings per share (EPS) are projected to be -$0.1, reflecting a 72.97% increase from the same quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $48.08 million, indicating a 0.64% downward movement from the same quarter last year.
For the full year, the Zacks Consensus Estimates project earnings of -$0.41 per share and a revenue of $199.33 million, demonstrating changes of +86.24% and +3.12%, respectively, from the preceding year.
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. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 22.27% higher. As of now, Canopy Growth Corporation holds a Zacks Rank of #3 (Hold).
The Medical - Products industry is part of the Medical sector. This industry, currently bearing a Zacks Industry Rank of 164, finds itself in the bottom 34% echelons of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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Canopy Growth Corporation (CGC) Stock Declines While Market Improves: Some Information for Investors
Canopy Growth Corporation (CGC - Free Report) closed the most recent trading day at $1.19, moving -4.03% from the previous trading session. This move lagged the S&P 500's daily gain of 0.96%. Elsewhere, the Dow gained 0.89%, while the tech-heavy Nasdaq added 0.94%.
The company's stock has dropped by 32.24% in the past month, falling short of the Medical sector's loss of 0.85% and the S&P 500's gain of 0.5%.
The investment community will be paying close attention to the earnings performance of Canopy Growth Corporation in its upcoming release. The company's earnings per share (EPS) are projected to be -$0.1, reflecting a 72.97% increase from the same quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $48.08 million, indicating a 0.64% downward movement from the same quarter last year.
For the full year, the Zacks Consensus Estimates project earnings of -$0.41 per share and a revenue of $199.33 million, demonstrating changes of +86.24% and +3.12%, respectively, from the preceding year.
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. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 22.27% higher. As of now, Canopy Growth Corporation holds a Zacks Rank of #3 (Hold).
The Medical - Products industry is part of the Medical sector. This industry, currently bearing a Zacks Industry Rank of 164, finds itself in the bottom 34% echelons of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.