Canopy Growth Corporation (CGC - Free Report) closed at $19.80 in the latest trading session, marking a -1.39% move from the prior day. This move lagged the S&P 500's daily loss of 0.28%. Meanwhile, the Dow lost 0.42%, and the Nasdaq, a tech-heavy index, lost 0.03%.
Coming into today, shares of the company had lost 5.68% in the past month. In that same time, the Medical sector gained 1.32%, while the S&P 500 gained 3.31%.
CGC will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of -$0.36, up 46.27% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $79.20 million, up 26.01% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$3.88 per share and revenue of $303.78 million, which would represent changes of -144.03% and +77.11%, 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.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 11.97% lower. 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 103, which puts it in the top 41% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.