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Canopy Growth Corporation (CGC) Stock Falls Amid Market Uptick: What Investors Need to Know
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Canopy Growth Corporation (CGC - Free Report) closed the most recent trading day at $1.11, moving -5.13% from the previous trading session. The stock's performance was behind the S&P 500's daily gain of 0.07%. At the same time, the Dow lost 0.7%, and the tech-heavy Nasdaq gained 0.18%.
Heading into today, shares of the company had lost 4.88% over the past month, lagging the Medical sector's gain of 2.39% and the S&P 500's gain of 5.71%.
Investors will be eagerly watching for 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. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $48.08 million, down 0.64% from the year-ago period.
For the annual period, the Zacks Consensus Estimates anticipate earnings of -$0.43 per share and a revenue of $199.33 million, signifying shifts of +85.57% and +3.12%, respectively, from the last year.
It is also important to note the recent changes to analyst estimates for Canopy Growth Corporation. Such recent modifications usually signify the changing landscape of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable 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. The Zacks Consensus EPS estimate has moved 5.69% lower within the past month. Right now, Canopy Growth Corporation possesses a Zacks Rank of #4 (Sell).
The Medical - Products industry is part of the Medical sector. Currently, this industry holds a Zacks Industry Rank of 186, positioning it in the bottom 25% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Canopy Growth Corporation (CGC) Stock Falls Amid Market Uptick: What Investors Need to Know
Canopy Growth Corporation (CGC - Free Report) closed the most recent trading day at $1.11, moving -5.13% from the previous trading session. The stock's performance was behind the S&P 500's daily gain of 0.07%. At the same time, the Dow lost 0.7%, and the tech-heavy Nasdaq gained 0.18%.
Heading into today, shares of the company had lost 4.88% over the past month, lagging the Medical sector's gain of 2.39% and the S&P 500's gain of 5.71%.
Investors will be eagerly watching for 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. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $48.08 million, down 0.64% from the year-ago period.
For the annual period, the Zacks Consensus Estimates anticipate earnings of -$0.43 per share and a revenue of $199.33 million, signifying shifts of +85.57% and +3.12%, respectively, from the last year.
It is also important to note the recent changes to analyst estimates for Canopy Growth Corporation. Such recent modifications usually signify the changing landscape of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable 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. The Zacks Consensus EPS estimate has moved 5.69% lower within the past month. Right now, Canopy Growth Corporation possesses a Zacks Rank of #4 (Sell).
The Medical - Products industry is part of the Medical sector. Currently, this industry holds a Zacks Industry Rank of 186, positioning it in the bottom 25% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.