In the latest trading session, Canopy Growth Corporation (CGC - Free Report) closed at $28.23, marking a +0.43% move from the previous day. This move lagged the S&P 500's daily gain of 3.43%. At the same time, the Dow added 3.29%, and the tech-heavy Nasdaq gained 4.26%.
Prior to today's trading, shares of the company had lost 7.35% over the past month. This has was narrower than the Medical sector's loss of 11.69% and the S&P 500's loss of 12.15% 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. On that day, CGC is projected to report earnings of -$0.09 per share, which would represent year-over-year growth of 18.18%. Our most recent consensus estimate is calling for quarterly revenue of $73.90 million, up 332.42% from the year-ago period.
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 recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. CGC is currently sporting a Zacks Rank of #3 (Hold).
The Medical - Products industry is part of the Medical sector. This group has a Zacks Industry Rank of 109, putting it in the top 43% 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.