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Canopy Growth Corporation (CGC) Rises Higher Than Market: Key Facts
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Canopy Growth Corporation (CGC - Free Report) ended the recent trading session at $0.94, demonstrating a +1.45% change from the preceding day's closing price. The stock outperformed the S&P 500, which registered a daily gain of 0.51%. Meanwhile, the Dow gained 0.93%, and the Nasdaq, a tech-heavy index, added 0.48%.
The company's shares have seen a decrease of 8.02% over the last month, not keeping up with the Medical sector's loss of 3.38% and the S&P 500's gain of 0.74%.
Analysts and investors alike will be keeping a close eye on the performance of Canopy Growth Corporation in its upcoming earnings disclosure. The company's earnings per share (EPS) are projected to be -$0.03, reflecting a 200% decrease from the same quarter last year. At the same time, our most recent consensus estimate is projecting a revenue of $59.12 million, reflecting a 22.09% rise from the equivalent quarter last year.
For the full year, the Zacks Consensus Estimates are projecting earnings of -$0.1 per share and revenue of $243.53 million, which would represent changes of +77.78% and +18.24%, respectively, from the prior year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Canopy Growth Corporation. These revisions help to show the ever-changing nature of near-term business trends. 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 take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. Canopy Growth Corporation is holding a Zacks Rank of #3 (Hold) right now.
The Medical - Products industry is part of the Medical sector. This industry, currently bearing a Zacks Industry Rank of 154, finds itself in the bottom 38% echelons of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming 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.
View the Zacks #1 Rank List
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Canopy Growth Corporation (CGC) Rises Higher Than Market: Key Facts
Canopy Growth Corporation (CGC - Free Report) ended the recent trading session at $0.94, demonstrating a +1.45% change from the preceding day's closing price. The stock outperformed the S&P 500, which registered a daily gain of 0.51%. Meanwhile, the Dow gained 0.93%, and the Nasdaq, a tech-heavy index, added 0.48%.
The company's shares have seen a decrease of 8.02% over the last month, not keeping up with the Medical sector's loss of 3.38% and the S&P 500's gain of 0.74%.
Analysts and investors alike will be keeping a close eye on the performance of Canopy Growth Corporation in its upcoming earnings disclosure. The company's earnings per share (EPS) are projected to be -$0.03, reflecting a 200% decrease from the same quarter last year. At the same time, our most recent consensus estimate is projecting a revenue of $59.12 million, reflecting a 22.09% rise from the equivalent quarter last year.
For the full year, the Zacks Consensus Estimates are projecting earnings of -$0.1 per share and revenue of $243.53 million, which would represent changes of +77.78% and +18.24%, respectively, from the prior year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Canopy Growth Corporation. These revisions help to show the ever-changing nature of near-term business trends. 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 take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. Canopy Growth Corporation is holding a Zacks Rank of #3 (Hold) right now.
The Medical - Products industry is part of the Medical sector. This industry, currently bearing a Zacks Industry Rank of 154, finds itself in the bottom 38% echelons of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming 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.