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Canopy Growth Corporation (CGC) Gains As Market Dips: What You Should Know
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Canopy Growth Corporation (CGC - Free Report) closed the latest trading day at $4.86, indicating a +1.46% change from the previous session's end. The stock outperformed the S&P 500, which registered a daily loss of 0.8%. Elsewhere, the Dow saw a downswing of 0.76%, while the tech-heavy Nasdaq depreciated by 1.18%.
Prior to today's trading, shares of the company had lost 28.1% over the past month. This has lagged the Medical sector's gain of 5.8% and the S&P 500's gain of 3.4% in that time.
Market participants will be closely following the financial results of Canopy Growth Corporation in its upcoming release. The company is forecasted to report an EPS of -$0.45, showcasing an 87.14% upward movement from the corresponding quarter of the prior year. Meanwhile, our latest consensus estimate is calling for revenue of $53.48 million, down 28.27% from the prior-year quarter.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of -$3.27 per share and a revenue of $236.73 million, indicating changes of +93.89% and -25.07%, respectively, from the former year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Canopy Growth Corporation. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable 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 last 30 days, the Zacks Consensus EPS estimate has witnessed a 1.47% decrease. Currently, Canopy Growth Corporation is carrying a Zacks Rank of #3 (Hold).
The Medical - Products industry is part of the Medical sector. With its current Zacks Industry Rank of 184, this industry ranks in the bottom 27% of all industries, numbering over 250.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Canopy Growth Corporation (CGC) Gains As Market Dips: What You Should Know
Canopy Growth Corporation (CGC - Free Report) closed the latest trading day at $4.86, indicating a +1.46% change from the previous session's end. The stock outperformed the S&P 500, which registered a daily loss of 0.8%. Elsewhere, the Dow saw a downswing of 0.76%, while the tech-heavy Nasdaq depreciated by 1.18%.
Prior to today's trading, shares of the company had lost 28.1% over the past month. This has lagged the Medical sector's gain of 5.8% and the S&P 500's gain of 3.4% in that time.
Market participants will be closely following the financial results of Canopy Growth Corporation in its upcoming release. The company is forecasted to report an EPS of -$0.45, showcasing an 87.14% upward movement from the corresponding quarter of the prior year. Meanwhile, our latest consensus estimate is calling for revenue of $53.48 million, down 28.27% from the prior-year quarter.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of -$3.27 per share and a revenue of $236.73 million, indicating changes of +93.89% and -25.07%, respectively, from the former year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Canopy Growth Corporation. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable 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 last 30 days, the Zacks Consensus EPS estimate has witnessed a 1.47% decrease. Currently, Canopy Growth Corporation is carrying a Zacks Rank of #3 (Hold).
The Medical - Products industry is part of the Medical sector. With its current Zacks Industry Rank of 184, this industry ranks in the bottom 27% of all industries, numbering over 250.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.