In the latest trading session, Canopy Growth Corporation (CGC - Free Report) closed at $27.34, marking a +1.98% move from the previous day. This change outpaced the S&P 500's 0.12% loss on the day. Elsewhere, the Dow lost 0.33%, while the tech-heavy Nasdaq added 0.08%.
Heading into today, shares of the company had lost 19.2% over the past month, lagging the Medical sector's loss of 6.93% and the S&P 500's loss of 6.96% in that time.
Wall Street will be looking for positivity from CGC as it approaches its next earnings report date. This is expected to be February 13, 2019. In that report, analysts expect CGC to post earnings of -$0.09 per share. This would mark year-over-year growth of 18.18%. Meanwhile, our latest consensus estimate is calling for revenue of $73.90 million, up 332.42% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.88 per share and revenue of $218.90 million. These totals would mark changes of -175% and +259.13%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for CGC. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
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 remained stagnant. CGC currently has a Zacks Rank of #3 (Hold).
The Medical - Products industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 100, which puts it in the top 39% 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.
To follow CGC in the coming trading sessions, be sure to utilize Zacks.com.