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Canopy Growth Corporation (CGC) Stock Moves -0.87%: What You Should Know
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Canopy Growth Corporation (CGC - Free Report) closed the most recent trading day at $2.29, moving -0.87% from the previous trading session. This change was narrower than the S&P 500's daily loss of 0.92%. Meanwhile, the Dow lost 0.62%, and the Nasdaq, a tech-heavy index, added 0.05%.
Heading into today, shares of the company had lost 29.57% over the past month, lagging the Medical sector's gain of 3.13% and the S&P 500's loss of 1% in that time.
Investors will be hoping for strength from Canopy Growth Corporation as it approaches its next earnings release. The company is expected to report EPS of -$0.19, down 46.15% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $88.17 million, down 30.32% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.70 per share and revenue of $393.77 million. These totals would mark changes of -275% and -8.63%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for Canopy Growth Corporation. 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.
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 3.92% higher. Canopy Growth Corporation is currently a Zacks Rank #3 (Hold).
The Medical - Products industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 144, which puts it in the bottom 43% 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.
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Canopy Growth Corporation (CGC) Stock Moves -0.87%: What You Should Know
Canopy Growth Corporation (CGC - Free Report) closed the most recent trading day at $2.29, moving -0.87% from the previous trading session. This change was narrower than the S&P 500's daily loss of 0.92%. Meanwhile, the Dow lost 0.62%, and the Nasdaq, a tech-heavy index, added 0.05%.
Heading into today, shares of the company had lost 29.57% over the past month, lagging the Medical sector's gain of 3.13% and the S&P 500's loss of 1% in that time.
Investors will be hoping for strength from Canopy Growth Corporation as it approaches its next earnings release. The company is expected to report EPS of -$0.19, down 46.15% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $88.17 million, down 30.32% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.70 per share and revenue of $393.77 million. These totals would mark changes of -275% and -8.63%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for Canopy Growth Corporation. 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.
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 3.92% higher. Canopy Growth Corporation is currently a Zacks Rank #3 (Hold).
The Medical - Products industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 144, which puts it in the bottom 43% 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.