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Canopy Growth Corporation (CGC) Beats Stock Market Upswing: What Investors Need to Know
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In the latest trading session, Canopy Growth Corporation (CGC - Free Report) closed at $1.11, marking a +1.83% move from the previous day. The stock's change was more than the S&P 500's daily gain of 1.02%. Elsewhere, the Dow saw an upswing of 1.62%, while the tech-heavy Nasdaq appreciated by 0.89%.
Heading into today, shares of the company had gained 11.86% over the past month, outpacing the Medical sector's loss of 1.69% and lagging the S&P 500's gain of 12.23%.
The upcoming earnings release of Canopy Growth Corporation will be of great interest to investors. The company's upcoming EPS is projected at -$0.06, signifying a 93.62% increase compared to the same quarter of the previous year. Our most recent consensus estimate is calling for quarterly revenue of $53.26 million, up 17.56% from the year-ago period.
For the full year, the Zacks Consensus Estimates are projecting earnings of -$0.36 per share and revenue of $210.58 million, which would represent changes of +87.92% and +8.94%, respectively, from the prior year.
Investors should also pay attention to any latest changes in analyst estimates for Canopy Growth Corporation. Recent revisions tend to reflect the latest near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical 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 remained stagnant. As of now, Canopy Growth Corporation holds a Zacks Rank of #2 (Buy).
The Medical - Products industry is part of the Medical sector. This industry, currently bearing a Zacks Industry Rank of 179, finds itself in the bottom 27% echelons of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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Canopy Growth Corporation (CGC) Beats Stock Market Upswing: What Investors Need to Know
In the latest trading session, Canopy Growth Corporation (CGC - Free Report) closed at $1.11, marking a +1.83% move from the previous day. The stock's change was more than the S&P 500's daily gain of 1.02%. Elsewhere, the Dow saw an upswing of 1.62%, while the tech-heavy Nasdaq appreciated by 0.89%.
Heading into today, shares of the company had gained 11.86% over the past month, outpacing the Medical sector's loss of 1.69% and lagging the S&P 500's gain of 12.23%.
The upcoming earnings release of Canopy Growth Corporation will be of great interest to investors. The company's upcoming EPS is projected at -$0.06, signifying a 93.62% increase compared to the same quarter of the previous year. Our most recent consensus estimate is calling for quarterly revenue of $53.26 million, up 17.56% from the year-ago period.
For the full year, the Zacks Consensus Estimates are projecting earnings of -$0.36 per share and revenue of $210.58 million, which would represent changes of +87.92% and +8.94%, respectively, from the prior year.
Investors should also pay attention to any latest changes in analyst estimates for Canopy Growth Corporation. Recent revisions tend to reflect the latest near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical 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 remained stagnant. As of now, Canopy Growth Corporation holds a Zacks Rank of #2 (Buy).
The Medical - Products industry is part of the Medical sector. This industry, currently bearing a Zacks Industry Rank of 179, finds itself in the bottom 27% echelons of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.