Canopy Growth Corporation (CGC - Free Report) closed the most recent trading day at $52.70, moving +0.46% from the previous trading session. This move outpaced the S&P 500's daily loss of 0.13%. Meanwhile, the Dow lost 0.26%, and the Nasdaq, a tech-heavy index, added 0.18%.
Heading into today, shares of the company had gained 13.34% over the past month, outpacing the Medical sector's gain of 2.32% and the S&P 500's gain of 1.71% in that time.
CGC will be looking to display strength as it nears its next earnings release, which is expected to be November 13, 2018. In that report, analysts expect CGC to post earnings of -$0.09 per share. This would mark a year-over-year decline of 800%. Meanwhile, our latest consensus estimate is calling for revenue of $109.90 million, up 683.88% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.37 per share and revenue of $356.29 million. These totals would mark changes of -15.63% and +484.53%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for CGC. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. CGC is holding a Zacks Rank of #3 (Hold) right now.
The Medical - Products industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 184, which puts it in the bottom 28% of all 250+ industries.
The Zacks Industry Rank includes is listed in order 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.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.