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Canopy Growth Corporation (CGC) Dips More Than Broader Markets: What You Should Know
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In the latest trading session, Canopy Growth Corporation (CGC - Free Report) closed at $25.54, marking a -1.66% move from the previous day. This change lagged the S&P 500's daily loss of 0.39%. At the same time, the Dow added 0.12%, and the tech-heavy Nasdaq lost 0.1%.
Heading into today, shares of the company had gained 8.8% over the past month, outpacing the Medical sector's gain of 5.94% and the S&P 500's gain of 4.06% in that time.
CGC will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of -$0.21, up 22.22% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $115.75 million, up 23.44% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.86 per share and revenue of $430.47 million. These totals would mark changes of +28.33% and +43.53%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for CGC. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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.
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 remained stagnant. CGC is currently sporting 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 118, which puts it in the top 47% 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.
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Canopy Growth Corporation (CGC) Dips More Than Broader Markets: What You Should Know
In the latest trading session, Canopy Growth Corporation (CGC - Free Report) closed at $25.54, marking a -1.66% move from the previous day. This change lagged the S&P 500's daily loss of 0.39%. At the same time, the Dow added 0.12%, and the tech-heavy Nasdaq lost 0.1%.
Heading into today, shares of the company had gained 8.8% over the past month, outpacing the Medical sector's gain of 5.94% and the S&P 500's gain of 4.06% in that time.
CGC will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of -$0.21, up 22.22% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $115.75 million, up 23.44% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.86 per share and revenue of $430.47 million. These totals would mark changes of +28.33% and +43.53%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for CGC. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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.
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 remained stagnant. CGC is currently sporting 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 118, which puts it in the top 47% 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.