Canopy Growth Corporation (CGC - Free Report) closed the most recent trading day at $25.59, moving +0.12% from the previous trading session. This move outpaced the S&P 500's daily loss of 0.01%. Meanwhile, the Dow gained 0.06%, and the Nasdaq, a tech-heavy index, lost 0.06%.
Prior to today's trading, shares of the company had gained 1.71% over the past month. This has outpaced the Medical sector's gain of 1.37% and lagged the S&P 500's gain of 3.23% in that time.
Wall Street will be looking for positivity from CGC as it approaches its next earnings report date. The company is expected to report EPS of -$0.27, up 64.47% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $91.05 million, up 410.06% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$2.09 per share and revenue of $445.40 million, which would represent changes of -31.45% and +159.68%, respectively, from the prior year.
Any recent changes to analyst estimates for CGC should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. 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. 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 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 7.75% lower. 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 71, putting it in the top 28% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. 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.