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Canopy Growth Corporation (CGC) Rises Higher Than Market: Key Facts
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Canopy Growth Corporation (CGC - Free Report) closed the most recent trading day at $9.18, moving +0.77% from the previous trading session. The stock outpaced the S&P 500's daily gain of 0.7%. Elsewhere, the Dow gained 0.01%, while the tech-heavy Nasdaq added 1.1%.
The company's stock has climbed by 4.71% in the past month, exceeding the Medical sector's gain of 3.27% and the S&P 500's gain of 4.03%.
Market participants will be closely following the financial results of Canopy Growth Corporation in its upcoming release. The company plans to announce its earnings on May 30, 2024. The company is predicted to post an EPS of -$0.33, indicating an 85.65% growth compared to the equivalent quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $52.71 million, indicating a 18.58% decline compared to the corresponding quarter of the prior year.
Investors should also take note of any recent adjustments to analyst estimates for Canopy Growth Corporation. These revisions help to show the ever-changing nature of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 30.03% upward. Canopy Growth Corporation is holding a Zacks Rank of #2 (Buy) right now.
The Medical - Products industry is part of the Medical sector. With its current Zacks Industry Rank of 95, this industry ranks in the top 38% of all industries, numbering over 250.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow CGC in the coming trading sessions, be sure to utilize Zacks.com.
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Canopy Growth Corporation (CGC) Rises Higher Than Market: Key Facts
Canopy Growth Corporation (CGC - Free Report) closed the most recent trading day at $9.18, moving +0.77% from the previous trading session. The stock outpaced the S&P 500's daily gain of 0.7%. Elsewhere, the Dow gained 0.01%, while the tech-heavy Nasdaq added 1.1%.
The company's stock has climbed by 4.71% in the past month, exceeding the Medical sector's gain of 3.27% and the S&P 500's gain of 4.03%.
Market participants will be closely following the financial results of Canopy Growth Corporation in its upcoming release. The company plans to announce its earnings on May 30, 2024. The company is predicted to post an EPS of -$0.33, indicating an 85.65% growth compared to the equivalent quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $52.71 million, indicating a 18.58% decline compared to the corresponding quarter of the prior year.
Investors should also take note of any recent adjustments to analyst estimates for Canopy Growth Corporation. These revisions help to show the ever-changing nature of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 30.03% upward. Canopy Growth Corporation is holding a Zacks Rank of #2 (Buy) right now.
The Medical - Products industry is part of the Medical sector. With its current Zacks Industry Rank of 95, this industry ranks in the top 38% of all industries, numbering over 250.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow CGC in the coming trading sessions, be sure to utilize Zacks.com.