We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Canopy Growth Corporation (CGC) Outpaces Stock Market Gains: What You Should Know
Read MoreHide Full Article
Canopy Growth Corporation (CGC - Free Report) closed the most recent trading day at $13.01, moving +1.76% from the previous trading session. This move outpaced the S&P 500's daily gain of 0.98%.
Prior to today's trading, shares of the company had lost 7.12% over the past month. This has lagged the Medical sector's loss of 1.47% and the S&P 500's gain of 2.57% in that time.
CGC will be looking to display strength as it nears its next earnings release, which is expected to be November 5, 2021. In that report, analysts expect CGC to post earnings of -$0.14 per share. This would mark a year-over-year decline of 187.5%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $116.96 million, up 3.33% from the year-ago period.
CGC's full-year Zacks Consensus Estimates are calling for earnings of -$0.05 per share and revenue of $530.27 million. These results would represent year-over-year changes of +97.69% and +22.36%, respectively.
Investors might also notice recent changes to analyst estimates for CGC. 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. Over the past month, the Zacks Consensus EPS estimate has moved 2.7% lower. CGC currently has a Zacks Rank of #3 (Hold).
The Medical - Products industry is part of the Medical sector. This group has a Zacks Industry Rank of 147, putting it in the bottom 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.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Canopy Growth Corporation (CGC) Outpaces Stock Market Gains: What You Should Know
Canopy Growth Corporation (CGC - Free Report) closed the most recent trading day at $13.01, moving +1.76% from the previous trading session. This move outpaced the S&P 500's daily gain of 0.98%.
Prior to today's trading, shares of the company had lost 7.12% over the past month. This has lagged the Medical sector's loss of 1.47% and the S&P 500's gain of 2.57% in that time.
CGC will be looking to display strength as it nears its next earnings release, which is expected to be November 5, 2021. In that report, analysts expect CGC to post earnings of -$0.14 per share. This would mark a year-over-year decline of 187.5%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $116.96 million, up 3.33% from the year-ago period.
CGC's full-year Zacks Consensus Estimates are calling for earnings of -$0.05 per share and revenue of $530.27 million. These results would represent year-over-year changes of +97.69% and +22.36%, respectively.
Investors might also notice recent changes to analyst estimates for CGC. 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. Over the past month, the Zacks Consensus EPS estimate has moved 2.7% lower. CGC currently has a Zacks Rank of #3 (Hold).
The Medical - Products industry is part of the Medical sector. This group has a Zacks Industry Rank of 147, putting it in the bottom 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.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.