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Why Canopy Growth Corporation (CGC) Dipped More Than Broader Market Today
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In the latest close session, Canopy Growth Corporation (CGC - Free Report) was down 1.87% at $0.87. The stock's performance was behind the S&P 500's daily loss of 0.22%. Elsewhere, the Dow saw a downswing of 0.66%, while the tech-heavy Nasdaq depreciated by 0.22%.
The company's shares have seen a decrease of 7.75% over the last month, not keeping up with the Medical sector's loss of 4.73% and the S&P 500's gain of 1.4%.
The investment community will be paying close attention to the earnings performance of Canopy Growth Corporation in its upcoming release. In that report, analysts expect Canopy Growth Corporation to post earnings of -$0.03 per share. This would mark a year-over-year decline of 200%. Alongside, our most recent consensus estimate is anticipating revenue of $59.12 million, indicating a 22.09% upward movement from the same quarter last year.
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.
Investors should also note any recent changes to analyst estimates for Canopy Growth Corporation. These revisions help to show the ever-changing nature of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Right now, Canopy Growth Corporation possesses a Zacks Rank of #3 (Hold).
The Medical - Products industry is part of the Medical sector. This industry, currently bearing a Zacks Industry Rank of 96, finds itself in the top 40% echelons of all 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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
View the Zacks #1 Rank List
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Why Canopy Growth Corporation (CGC) Dipped More Than Broader Market Today
In the latest close session, Canopy Growth Corporation (CGC - Free Report) was down 1.87% at $0.87. The stock's performance was behind the S&P 500's daily loss of 0.22%. Elsewhere, the Dow saw a downswing of 0.66%, while the tech-heavy Nasdaq depreciated by 0.22%.
The company's shares have seen a decrease of 7.75% over the last month, not keeping up with the Medical sector's loss of 4.73% and the S&P 500's gain of 1.4%.
The investment community will be paying close attention to the earnings performance of Canopy Growth Corporation in its upcoming release. In that report, analysts expect Canopy Growth Corporation to post earnings of -$0.03 per share. This would mark a year-over-year decline of 200%. Alongside, our most recent consensus estimate is anticipating revenue of $59.12 million, indicating a 22.09% upward movement from the same quarter last year.
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.
Investors should also note any recent changes to analyst estimates for Canopy Growth Corporation. These revisions help to show the ever-changing nature of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Right now, Canopy Growth Corporation possesses a Zacks Rank of #3 (Hold).
The Medical - Products industry is part of the Medical sector. This industry, currently bearing a Zacks Industry Rank of 96, finds itself in the top 40% echelons of all 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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.