Canopy Growth Corporation (CGC - Free Report) closed the most recent trading day at $38.24, moving +1.84% from the previous trading session. This change outpaced the S&P 500's 0.02% loss on the day. At the same time, the Dow lost 0.03%, and the tech-heavy Nasdaq lost 0.21%.
Prior to today's trading, shares of the company had gained 21.84% over the past month. This has outpaced the Medical sector's loss of 3.97% and the S&P 500's loss of 1.4% 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. The company is expected to report EPS of -$0.07, up 36.36% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $78.97 million, up 362.08% from the year-ago period.
CGC's full-year Zacks Consensus Estimates are calling for earnings of -$0.87 per share and revenue of $221.12 million. These results would represent year-over-year changes of -171.88% and +262.77%, respectively.
Investors might also notice recent changes to analyst estimates for CGC. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an 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. Over the past month, the Zacks Consensus EPS estimate has moved 1.52% higher. CGC is currently a Zacks Rank #3 (Hold).
The Medical - Products industry is part of the Medical sector. This group has a Zacks Industry Rank of 110, 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.