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) Dips More Than Broader Market: What You Should Know
Read MoreHide Full Article
In the latest trading session, Canopy Growth Corporation (CGC - Free Report) closed at $1.19, marking a -2.87% move from the previous day. The stock's performance was behind the S&P 500's daily loss of 0.06%. Meanwhile, the Dow lost 0.17%, and the Nasdaq, a tech-heavy index, lost 0.06%.
Coming into today, shares of the company had lost 27.81% in the past month. In that same time, the Medical sector lost 0.79%, while the S&P 500 gained 1.99%.
The investment community will be paying close attention to the earnings performance of Canopy Growth Corporation in its upcoming release. The company's earnings per share (EPS) are projected to be -$0.03, reflecting a 96.05% increase from the same quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $50.59 million, indicating a 5.34% decline compared to the corresponding quarter of the prior year.
For the full year, the Zacks Consensus Estimates are projecting earnings of -$0.21 per share and revenue of $199.68 million, which would represent changes of +92.95% and +3.3%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Canopy Growth Corporation. These recent revisions tend to reflect the evolving nature of short-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. As of now, Canopy Growth Corporation holds a Zacks Rank of #3 (Hold).
The Medical - Products industry is part of the Medical sector. With its current Zacks Industry Rank of 162, this industry ranks in the bottom 34% of all industries, numbering over 250.
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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Canopy Growth Corporation (CGC) Dips More Than Broader Market: What You Should Know
In the latest trading session, Canopy Growth Corporation (CGC - Free Report) closed at $1.19, marking a -2.87% move from the previous day. The stock's performance was behind the S&P 500's daily loss of 0.06%. Meanwhile, the Dow lost 0.17%, and the Nasdaq, a tech-heavy index, lost 0.06%.
Coming into today, shares of the company had lost 27.81% in the past month. In that same time, the Medical sector lost 0.79%, while the S&P 500 gained 1.99%.
The investment community will be paying close attention to the earnings performance of Canopy Growth Corporation in its upcoming release. The company's earnings per share (EPS) are projected to be -$0.03, reflecting a 96.05% increase from the same quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $50.59 million, indicating a 5.34% decline compared to the corresponding quarter of the prior year.
For the full year, the Zacks Consensus Estimates are projecting earnings of -$0.21 per share and revenue of $199.68 million, which would represent changes of +92.95% and +3.3%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Canopy Growth Corporation. These recent revisions tend to reflect the evolving nature of short-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. As of now, Canopy Growth Corporation holds a Zacks Rank of #3 (Hold).
The Medical - Products industry is part of the Medical sector. With its current Zacks Industry Rank of 162, this industry ranks in the bottom 34% of all industries, numbering over 250.
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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.