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Canopy Growth Corporation (CGC) Stock Drops Despite Market Gains: Important Facts to Note
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In the latest trading session, Canopy Growth Corporation (CGC - Free Report) closed at $1.32, marking a -3.65% move from the previous day. The stock trailed the S&P 500, which registered a daily gain of 0.44%. Elsewhere, the Dow gained 0.14%, while the tech-heavy Nasdaq added 0.7%.
The stock of company has risen by 7.87% in the past month, leading the Medical sector's gain of 1.25% and the S&P 500's gain of 4.03%.
Investors will be eagerly watching for the performance of Canopy Growth Corporation in its upcoming earnings disclosure. In that report, analysts expect Canopy Growth Corporation to post earnings of -$0.11 per share. This would mark year-over-year growth of 88.42%. Our most recent consensus estimate is calling for quarterly revenue of $52.34 million, up 13.34% from the year-ago period.
CGC's full-year Zacks Consensus Estimates are calling for earnings of -$0.5 per share and revenue of $219.38 million. These results would represent year-over-year changes of +83.22% and +13.49%, respectively.
Any recent changes to analyst estimates for Canopy Growth Corporation should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
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. Within the past 30 days, our consensus EPS projection remained stagnant. Canopy Growth Corporation is currently a Zacks Rank #3 (Hold).
The Medical - Products industry is part of the Medical sector. This industry, currently bearing a Zacks Industry Rank of 151, finds itself in the bottom 39% echelons 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.
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 Drops Despite Market Gains: Important Facts to Note
In the latest trading session, Canopy Growth Corporation (CGC - Free Report) closed at $1.32, marking a -3.65% move from the previous day. The stock trailed the S&P 500, which registered a daily gain of 0.44%. Elsewhere, the Dow gained 0.14%, while the tech-heavy Nasdaq added 0.7%.
The stock of company has risen by 7.87% in the past month, leading the Medical sector's gain of 1.25% and the S&P 500's gain of 4.03%.
Investors will be eagerly watching for the performance of Canopy Growth Corporation in its upcoming earnings disclosure. In that report, analysts expect Canopy Growth Corporation to post earnings of -$0.11 per share. This would mark year-over-year growth of 88.42%. Our most recent consensus estimate is calling for quarterly revenue of $52.34 million, up 13.34% from the year-ago period.
CGC's full-year Zacks Consensus Estimates are calling for earnings of -$0.5 per share and revenue of $219.38 million. These results would represent year-over-year changes of +83.22% and +13.49%, respectively.
Any recent changes to analyst estimates for Canopy Growth Corporation should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
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. Within the past 30 days, our consensus EPS projection remained stagnant. Canopy Growth Corporation is currently a Zacks Rank #3 (Hold).
The Medical - Products industry is part of the Medical sector. This industry, currently bearing a Zacks Industry Rank of 151, finds itself in the bottom 39% echelons 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.