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Canopy Growth Corporation (CGC) Outpaces Stock Market Gains: What You Should Know
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Canopy Growth Corporation (CGC - Free Report) closed the most recent trading day at $7.40, moving +1.51% from the previous trading session. This change outpaced the S&P 500's 0.28% gain on the day. Meanwhile, the Dow gained 0.29%, and the Nasdaq, a tech-heavy index, added 0.16%.
Heading into today, shares of the company had lost 24.22% over the past month, lagging the Medical sector's loss of 9.62% and the S&P 500's loss of 5.39% in that time.
Investors will be hoping for strength from Canopy Growth Corporation as it approaches its next earnings release. On that day, Canopy Growth Corporation is projected to report earnings of -$0.23 per share, which would represent year-over-year growth of 76.53%. Meanwhile, our latest consensus estimate is calling for revenue of $110.64 million, down 5.48% from the prior-year quarter.
CGC's full-year Zacks Consensus Estimates are calling for earnings of -$0.08 per share and revenue of $437.49 million. These results would represent year-over-year changes of +96.3% and +0.95%, respectively.
Any recent changes to analyst estimates for Canopy Growth Corporation should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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 347.83% lower. Canopy Growth Corporation 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 192, putting it in the bottom 25% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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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 $7.40, moving +1.51% from the previous trading session. This change outpaced the S&P 500's 0.28% gain on the day. Meanwhile, the Dow gained 0.29%, and the Nasdaq, a tech-heavy index, added 0.16%.
Heading into today, shares of the company had lost 24.22% over the past month, lagging the Medical sector's loss of 9.62% and the S&P 500's loss of 5.39% in that time.
Investors will be hoping for strength from Canopy Growth Corporation as it approaches its next earnings release. On that day, Canopy Growth Corporation is projected to report earnings of -$0.23 per share, which would represent year-over-year growth of 76.53%. Meanwhile, our latest consensus estimate is calling for revenue of $110.64 million, down 5.48% from the prior-year quarter.
CGC's full-year Zacks Consensus Estimates are calling for earnings of -$0.08 per share and revenue of $437.49 million. These results would represent year-over-year changes of +96.3% and +0.95%, respectively.
Any recent changes to analyst estimates for Canopy Growth Corporation should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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 347.83% lower. Canopy Growth Corporation 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 192, putting it in the bottom 25% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.