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) Outpaces Stock Market Gains: What You Should Know
Read MoreHide Full Article
In the latest close session, Canopy Growth Corporation (CGC - Free Report) was up +2.27% at $1.35. This change outpaced the S&P 500's 0.79% gain on the day. Elsewhere, the Dow saw an upswing of 1.01%, while the tech-heavy Nasdaq appreciated by 1.15%.
The company's stock has dropped by 3.65% in the past month, falling short of the Medical sector's gain of 3.99% and the S&P 500's gain of 1.27%.
The investment community will be closely monitoring the performance of Canopy Growth Corporation in its forthcoming earnings report. 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%. Simultaneously, our latest consensus estimate expects the revenue to be $52.34 million, showing a 13.34% escalation compared to the year-ago quarter.
For the full year, the Zacks Consensus Estimates are projecting earnings of -$0.5 per share and revenue of $219.38 million, which would represent changes of +83.22% and +13.49%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Canopy Growth Corporation. These latest adjustments often mirror the shifting dynamics of short-term business patterns. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. Canopy Growth Corporation is holding a Zacks Rank of #3 (Hold) right now.
The Medical - Products industry is part of the Medical sector. This group has a Zacks Industry Rank of 149, putting it in the bottom 40% 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.
To follow CGC in the coming trading sessions, be sure to utilize Zacks.com.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Canopy Growth Corporation (CGC) Outpaces Stock Market Gains: What You Should Know
In the latest close session, Canopy Growth Corporation (CGC - Free Report) was up +2.27% at $1.35. This change outpaced the S&P 500's 0.79% gain on the day. Elsewhere, the Dow saw an upswing of 1.01%, while the tech-heavy Nasdaq appreciated by 1.15%.
The company's stock has dropped by 3.65% in the past month, falling short of the Medical sector's gain of 3.99% and the S&P 500's gain of 1.27%.
The investment community will be closely monitoring the performance of Canopy Growth Corporation in its forthcoming earnings report. 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%. Simultaneously, our latest consensus estimate expects the revenue to be $52.34 million, showing a 13.34% escalation compared to the year-ago quarter.
For the full year, the Zacks Consensus Estimates are projecting earnings of -$0.5 per share and revenue of $219.38 million, which would represent changes of +83.22% and +13.49%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Canopy Growth Corporation. These latest adjustments often mirror the shifting dynamics of short-term business patterns. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. Canopy Growth Corporation is holding a Zacks Rank of #3 (Hold) right now.
The Medical - Products industry is part of the Medical sector. This group has a Zacks Industry Rank of 149, putting it in the bottom 40% 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.
To follow CGC in the coming trading sessions, be sure to utilize Zacks.com.