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Canopy Growth Corporation (CGC) Suffers a Larger Drop Than the General Market: Key Insights
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In the latest trading session, Canopy Growth Corporation (CGC - Free Report) closed at $1.14, marking a -5% move from the previous day. The stock's performance was behind the S&P 500's daily loss of 0.64%. On the other hand, the Dow registered a loss of 0.59%, and the technology-centric Nasdaq decreased by 0.59%.
The company's shares have seen an increase of 24.16% over the last month, surpassing the Medical sector's gain of 1.59% and the S&P 500's gain of 9.33%.
Market participants will be closely following the financial results of Canopy Growth Corporation in its upcoming release. In that report, analysts expect Canopy Growth Corporation to post earnings of -$0.06 per share. This would mark year-over-year growth of 93.62%. Simultaneously, our latest consensus estimate expects the revenue to be $53.26 million, showing a 17.56% escalation compared to the year-ago quarter.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.36 per share and revenue of $210.58 million. These totals would mark changes of +87.92% and +8.94%, respectively, from last year.
Investors should also take note of any recent adjustments to analyst estimates for Canopy Growth Corporation. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, 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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Canopy Growth Corporation is holding a Zacks Rank of #2 (Buy) right now.
The Medical - Products industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 174, which puts it in the bottom 29% 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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Canopy Growth Corporation (CGC) Suffers a Larger Drop Than the General Market: Key Insights
In the latest trading session, Canopy Growth Corporation (CGC - Free Report) closed at $1.14, marking a -5% move from the previous day. The stock's performance was behind the S&P 500's daily loss of 0.64%. On the other hand, the Dow registered a loss of 0.59%, and the technology-centric Nasdaq decreased by 0.59%.
The company's shares have seen an increase of 24.16% over the last month, surpassing the Medical sector's gain of 1.59% and the S&P 500's gain of 9.33%.
Market participants will be closely following the financial results of Canopy Growth Corporation in its upcoming release. In that report, analysts expect Canopy Growth Corporation to post earnings of -$0.06 per share. This would mark year-over-year growth of 93.62%. Simultaneously, our latest consensus estimate expects the revenue to be $53.26 million, showing a 17.56% escalation compared to the year-ago quarter.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.36 per share and revenue of $210.58 million. These totals would mark changes of +87.92% and +8.94%, respectively, from last year.
Investors should also take note of any recent adjustments to analyst estimates for Canopy Growth Corporation. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, 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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Canopy Growth Corporation is holding a Zacks Rank of #2 (Buy) right now.
The Medical - Products industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 174, which puts it in the bottom 29% 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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.