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Canopy Growth Corporation (CGC) Registers a Bigger Fall Than the Market: Important Facts to Note
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Canopy Growth Corporation (CGC - Free Report) closed the most recent trading day at $1.10, moving -1.79% from the previous trading session. This move lagged the S&P 500's daily loss of 0.16%. Meanwhile, the Dow gained 0.11%, and the Nasdaq, a tech-heavy index, lost 0.71%.
Shares of the company witnessed a gain of 3.7% over the previous month, beating the performance of the Medical sector with its loss of 1.62%, and underperforming the S&P 500's gain of 8.81%.
The upcoming earnings release of Canopy Growth Corporation will be of great interest to investors. The company's earnings per share (EPS) are projected to be -$0.06, reflecting a 93.62% increase from the same quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $53.26 million, indicating a 17.56% upward movement from the same quarter last year.
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 take note of any recent adjustments to analyst estimates for Canopy Growth Corporation. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Currently, Canopy Growth Corporation is carrying a Zacks Rank of #2 (Buy).
The Medical - Products industry is part of the Medical sector. At present, this industry carries a Zacks Industry Rank of 154, placing it within the bottom 37% of over 250 industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these 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.
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Canopy Growth Corporation (CGC) Registers a Bigger Fall Than the Market: Important Facts to Note
Canopy Growth Corporation (CGC - Free Report) closed the most recent trading day at $1.10, moving -1.79% from the previous trading session. This move lagged the S&P 500's daily loss of 0.16%. Meanwhile, the Dow gained 0.11%, and the Nasdaq, a tech-heavy index, lost 0.71%.
Shares of the company witnessed a gain of 3.7% over the previous month, beating the performance of the Medical sector with its loss of 1.62%, and underperforming the S&P 500's gain of 8.81%.
The upcoming earnings release of Canopy Growth Corporation will be of great interest to investors. The company's earnings per share (EPS) are projected to be -$0.06, reflecting a 93.62% increase from the same quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $53.26 million, indicating a 17.56% upward movement from the same quarter last year.
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 take note of any recent adjustments to analyst estimates for Canopy Growth Corporation. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Currently, Canopy Growth Corporation is carrying a Zacks Rank of #2 (Buy).
The Medical - Products industry is part of the Medical sector. At present, this industry carries a Zacks Industry Rank of 154, placing it within the bottom 37% of over 250 industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these 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.