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Canopy Growth Corporation (CGC) Stock Moves -0.38%: What You Should Know
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Canopy Growth Corporation (CGC - Free Report) closed at $2.60 in the latest trading session, marking a -0.38% move from the prior day. This change was narrower than the S&P 500's 1.11% loss on the day. Meanwhile, the Dow lost 0.85%, and the Nasdaq, a tech-heavy index, added 0.1%.
Coming into today, shares of the company had lost 36.8% in the past month. In that same time, the Medical sector gained 3.73%, while the S&P 500 lost 2.19%.
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 -$0.13, up 40.91% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $84.9 million, down 24.09% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$3.61 per share and revenue of $336.91 million, which would represent changes of -1002.5% and -21.82%, respectively, from the prior year.
Any recent changes to analyst estimates for Canopy Growth Corporation should also be noted by investors. These revisions help to show the ever-changing nature of 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. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Canopy Growth Corporation is currently a Zacks Rank #3 (Hold).
The Medical - Products industry is part of the Medical sector. This group has a Zacks Industry Rank of 175, putting it in the bottom 31% 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) Stock Moves -0.38%: What You Should Know
Canopy Growth Corporation (CGC - Free Report) closed at $2.60 in the latest trading session, marking a -0.38% move from the prior day. This change was narrower than the S&P 500's 1.11% loss on the day. Meanwhile, the Dow lost 0.85%, and the Nasdaq, a tech-heavy index, added 0.1%.
Coming into today, shares of the company had lost 36.8% in the past month. In that same time, the Medical sector gained 3.73%, while the S&P 500 lost 2.19%.
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 -$0.13, up 40.91% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $84.9 million, down 24.09% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$3.61 per share and revenue of $336.91 million, which would represent changes of -1002.5% and -21.82%, respectively, from the prior year.
Any recent changes to analyst estimates for Canopy Growth Corporation should also be noted by investors. These revisions help to show the ever-changing nature of 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. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Canopy Growth Corporation is currently a Zacks Rank #3 (Hold).
The Medical - Products industry is part of the Medical sector. This group has a Zacks Industry Rank of 175, putting it in the bottom 31% 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.