In the latest trading session, Canopy Growth Corporation (CGC - Free Report) closed at $15.76, marking a +0.13% move from the previous day. This move lagged the S&P 500's daily gain of 0.9%. Meanwhile, the Dow gained 0.56%, and the Nasdaq, a tech-heavy index, added 1.13%.
Prior to today's trading, shares of the company had gained 9.76% over the past month. This has lagged the Medical sector's gain of 14.19% and the S&P 500's gain of 14.3% in that time.
CGC will be looking to display strength as it nears its next earnings release. In that report, analysts expect CGC to post earnings of -$0.27 per share. This would mark year-over-year growth of 59.7%. Our most recent consensus estimate is calling for quarterly revenue of $97.14 million, up 37.33% from the year-ago period.
Any recent changes to analyst estimates for CGC should also be noted by investors. Recent revisions tend to reflect the latest 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. Within the past 30 days, our consensus EPS projection has moved 0.17% higher. CGC currently has a Zacks Rank of #2 (Buy).
The Medical - Products industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 33, which puts it in the top 13% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.