Canopy Growth Corporation (CGC - Free Report) closed the most recent trading day at $31.70, moving +0.48% from the previous trading session. This move outpaced the S&P 500's daily gain of 0.33%. Meanwhile, the Dow gained 0.44%, and the Nasdaq, a tech-heavy index, added 0.01%.
Coming into today, shares of the company had lost 4.6% in the past month. In that same time, the Medical sector gained 3.15%, while the S&P 500 gained 0.89%.
CGC will be looking to display strength as it nears its next earnings release, which is expected to be February 13, 2019. The company is expected to report EPS of -$0.09, up 18.18% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $73.90 million, up 332.42% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$0.88 per share and revenue of $218.90 million, which would represent changes of -175% and +259.13%, respectively, from the prior 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. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 131.58% lower. CGC is holding a Zacks Rank of #3 (Hold) right now.
The Medical - Products industry is part of the Medical sector. This group has a Zacks Industry Rank of 103, putting it in the top 40% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.