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Canopy Growth Corporation (CGC) Stock Drops Despite Market Gains: Important Facts to Note
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Canopy Growth Corporation (CGC - Free Report) ended the recent trading session at $1.34, demonstrating a -2.19% change from the preceding day's closing price. This change lagged the S&P 500's daily gain of 0.59%. Meanwhile, the Dow gained 0.65%, and the Nasdaq, a tech-heavy index, added 0.44%.
Coming into today, shares of the company had lost 27.13% in the past month. In that same time, the Medical sector lost 0.94%, while the S&P 500 gained 2.72%.
Market participants will be closely following the financial results of Canopy Growth Corporation in its upcoming release. It is anticipated that the company will report an EPS of -$0.11, marking a 88.42% rise compared to the same quarter of the previous year. Meanwhile, our latest consensus estimate is calling for revenue of $52.34 million, up 13.34% from the prior-year quarter.
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.
Investors should also pay attention to any latest changes in analyst estimates for Canopy Growth Corporation. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. Canopy Growth Corporation presently features a Zacks Rank of #3 (Hold).
The Medical - Products industry is part of the Medical sector. This group has a Zacks Industry Rank of 147, putting it in the bottom 41% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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Canopy Growth Corporation (CGC) Stock Drops Despite Market Gains: Important Facts to Note
Canopy Growth Corporation (CGC - Free Report) ended the recent trading session at $1.34, demonstrating a -2.19% change from the preceding day's closing price. This change lagged the S&P 500's daily gain of 0.59%. Meanwhile, the Dow gained 0.65%, and the Nasdaq, a tech-heavy index, added 0.44%.
Coming into today, shares of the company had lost 27.13% in the past month. In that same time, the Medical sector lost 0.94%, while the S&P 500 gained 2.72%.
Market participants will be closely following the financial results of Canopy Growth Corporation in its upcoming release. It is anticipated that the company will report an EPS of -$0.11, marking a 88.42% rise compared to the same quarter of the previous year. Meanwhile, our latest consensus estimate is calling for revenue of $52.34 million, up 13.34% from the prior-year quarter.
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.
Investors should also pay attention to any latest changes in analyst estimates for Canopy Growth Corporation. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. Canopy Growth Corporation presently features a Zacks Rank of #3 (Hold).
The Medical - Products industry is part of the Medical sector. This group has a Zacks Industry Rank of 147, putting it in the bottom 41% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.