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Canopy Growth Corporation (CGC) Advances While Market Declines: Some Information for Investors
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Canopy Growth Corporation (CGC - Free Report) closed at $0.94 in the latest trading session, marking a +1.15% move from the prior day. The stock outpaced the S&P 500's daily loss of 0.48%. On the other hand, the Dow registered a loss of 0.29%, and the technology-centric Nasdaq decreased by 0.56%.
Heading into today, shares of the company had lost 9.05% over the past month, lagging the Medical sector's loss of 2.01% and the S&P 500's loss of 0.82%.
The investment community will be paying close attention to the earnings performance of Canopy Growth Corporation in its upcoming release. On that day, Canopy Growth Corporation is projected to report earnings of -$0.03 per share, which would represent a year-over-year decline of 200%. Meanwhile, our latest consensus estimate is calling for revenue of $59.12 million, up 22.09% from the prior-year quarter.
For the annual period, the Zacks Consensus Estimates anticipate earnings of -$0.1 per share and a revenue of $243.53 million, signifying shifts of +77.78% and +18.24%, respectively, from the last year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Canopy Growth Corporation. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Canopy Growth Corporation currently has a Zacks Rank of #3 (Hold).
The Medical - Products industry is part of the Medical sector. At present, this industry carries a Zacks Industry Rank of 103, placing it within the top 42% of over 250 industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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.
View the Zacks #1 Rank List
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Canopy Growth Corporation (CGC) Advances While Market Declines: Some Information for Investors
Canopy Growth Corporation (CGC - Free Report) closed at $0.94 in the latest trading session, marking a +1.15% move from the prior day. The stock outpaced the S&P 500's daily loss of 0.48%. On the other hand, the Dow registered a loss of 0.29%, and the technology-centric Nasdaq decreased by 0.56%.
Heading into today, shares of the company had lost 9.05% over the past month, lagging the Medical sector's loss of 2.01% and the S&P 500's loss of 0.82%.
The investment community will be paying close attention to the earnings performance of Canopy Growth Corporation in its upcoming release. On that day, Canopy Growth Corporation is projected to report earnings of -$0.03 per share, which would represent a year-over-year decline of 200%. Meanwhile, our latest consensus estimate is calling for revenue of $59.12 million, up 22.09% from the prior-year quarter.
For the annual period, the Zacks Consensus Estimates anticipate earnings of -$0.1 per share and a revenue of $243.53 million, signifying shifts of +77.78% and +18.24%, respectively, from the last year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Canopy Growth Corporation. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Canopy Growth Corporation currently has a Zacks Rank of #3 (Hold).
The Medical - Products industry is part of the Medical sector. At present, this industry carries a Zacks Industry Rank of 103, placing it within the top 42% of over 250 industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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.