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Canopy Growth Corporation (CGC) Falls More Steeply Than Broader Market: What Investors Need to Know
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Canopy Growth Corporation (CGC - Free Report) closed at $1.37 in the latest trading session, marking a -16.97% move from the prior day. This change lagged the S&P 500's 2.71% loss on the day. Elsewhere, the Dow saw a downswing of 1.9%, while the tech-heavy Nasdaq depreciated by 3.56%.
Coming into today, shares of the company had gained 18.7% in the past month. In that same time, the Medical sector gained 2.6%, while the S&P 500 gained 3.5%.
The investment community will be paying close attention to the earnings performance of Canopy Growth Corporation in its upcoming release. The company's upcoming EPS is projected at -$0.11, signifying a 88.42% increase compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $52.34 million, indicating a 13.34% upward movement from the same quarter last year.
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.
It's also important for investors to be aware of any recent modifications to analyst estimates for Canopy Growth Corporation. Such recent modifications usually signify the changing landscape of near-term business trends. 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. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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, there's been no change in the Zacks Consensus EPS estimate. Canopy Growth Corporation presently features a Zacks Rank of #3 (Hold).
The Medical - Products industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 67, which puts it in the top 28% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. 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) Falls More Steeply Than Broader Market: What Investors Need to Know
Canopy Growth Corporation (CGC - Free Report) closed at $1.37 in the latest trading session, marking a -16.97% move from the prior day. This change lagged the S&P 500's 2.71% loss on the day. Elsewhere, the Dow saw a downswing of 1.9%, while the tech-heavy Nasdaq depreciated by 3.56%.
Coming into today, shares of the company had gained 18.7% in the past month. In that same time, the Medical sector gained 2.6%, while the S&P 500 gained 3.5%.
The investment community will be paying close attention to the earnings performance of Canopy Growth Corporation in its upcoming release. The company's upcoming EPS is projected at -$0.11, signifying a 88.42% increase compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $52.34 million, indicating a 13.34% upward movement from the same quarter last year.
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.
It's also important for investors to be aware of any recent modifications to analyst estimates for Canopy Growth Corporation. Such recent modifications usually signify the changing landscape of near-term business trends. 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. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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, there's been no change in the Zacks Consensus EPS estimate. Canopy Growth Corporation presently features a Zacks Rank of #3 (Hold).
The Medical - Products industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 67, which puts it in the top 28% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. 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.