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) Falls More Steeply Than Broader Market: What Investors Need to Know
Read MoreHide Full Article
Canopy Growth Corporation (CGC - Free Report) closed at $1.09 in the latest trading session, marking a -1.8% move from the prior day. This change lagged the S&P 500's 0.01% loss on the day. Meanwhile, the Dow lost 0.32%, and the Nasdaq, a tech-heavy index, added 0.05%.
Prior to today's trading, shares of the company had lost 13.95% lagged the Medical sector's loss of 1.59% and the S&P 500's gain of 5.37%.
Analysts and investors alike will be keeping a close eye on the performance of Canopy Growth Corporation in its upcoming earnings disclosure. The company is expected to report EPS of -$0.11, up 70.27% from the prior-year quarter. 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 -$0.43 per share and a revenue of $199.33 million, demonstrating changes of +85.57% and +3.12%, respectively, from the preceding year.
It's also important for investors to be aware of any recent modifications 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 business operations and its ability to generate profits.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 5.69% downward. 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 169, putting it in the bottom 32% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Canopy Growth Corporation (CGC) Falls More Steeply Than Broader Market: What Investors Need to Know
Canopy Growth Corporation (CGC - Free Report) closed at $1.09 in the latest trading session, marking a -1.8% move from the prior day. This change lagged the S&P 500's 0.01% loss on the day. Meanwhile, the Dow lost 0.32%, and the Nasdaq, a tech-heavy index, added 0.05%.
Prior to today's trading, shares of the company had lost 13.95% lagged the Medical sector's loss of 1.59% and the S&P 500's gain of 5.37%.
Analysts and investors alike will be keeping a close eye on the performance of Canopy Growth Corporation in its upcoming earnings disclosure. The company is expected to report EPS of -$0.11, up 70.27% from the prior-year quarter. 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 -$0.43 per share and a revenue of $199.33 million, demonstrating changes of +85.57% and +3.12%, respectively, from the preceding year.
It's also important for investors to be aware of any recent modifications 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 business operations and its ability to generate profits.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 5.69% downward. 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 169, putting it in the bottom 32% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.