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Canopy Growth Corporation (CGC - Free Report) ended the recent trading session at $6.67, demonstrating a +0.6% swing from the preceding day's closing price. This move outpaced the S&P 500's daily gain of 0.09%. Meanwhile, the Dow gained 0.09%, and the Nasdaq, a tech-heavy index, added 0.3%.
Prior to today's trading, shares of the company had lost 21.82% over the past month. This has lagged the Medical sector's gain of 1.69% and the S&P 500's gain of 3.38% in that time.
The investment community will be paying close attention to the earnings performance of Canopy Growth Corporation in its upcoming release. It is anticipated that the company will report an EPS of -$0.32, marking a 20% rise compared to the same quarter of the previous year. Simultaneously, our latest consensus estimate expects the revenue to be $53.69 million, showing a 33.67% drop compared to the year-ago quarter.
For the annual period, the Zacks Consensus Estimates anticipate earnings of -$1.08 per share and a revenue of $220.89 million, signifying shifts of +73.33% and -9.65%, respectively, from the last year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Canopy Growth Corporation. These revisions help to show the ever-changing nature of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
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 last 30 days, the Zacks Consensus EPS estimate has witnessed a 23.48% decrease. Canopy Growth Corporation currently has a Zacks Rank of #3 (Hold).
The Medical - Products industry is part of the Medical sector. With its current Zacks Industry Rank of 144, this industry ranks in the bottom 43% of all industries, numbering over 250.
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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Canopy Growth Corporation (CGC) Surpasses Market Returns: Some Facts Worth Knowing
Canopy Growth Corporation (CGC - Free Report) ended the recent trading session at $6.67, demonstrating a +0.6% swing from the preceding day's closing price. This move outpaced the S&P 500's daily gain of 0.09%. Meanwhile, the Dow gained 0.09%, and the Nasdaq, a tech-heavy index, added 0.3%.
Prior to today's trading, shares of the company had lost 21.82% over the past month. This has lagged the Medical sector's gain of 1.69% and the S&P 500's gain of 3.38% in that time.
The investment community will be paying close attention to the earnings performance of Canopy Growth Corporation in its upcoming release. It is anticipated that the company will report an EPS of -$0.32, marking a 20% rise compared to the same quarter of the previous year. Simultaneously, our latest consensus estimate expects the revenue to be $53.69 million, showing a 33.67% drop compared to the year-ago quarter.
For the annual period, the Zacks Consensus Estimates anticipate earnings of -$1.08 per share and a revenue of $220.89 million, signifying shifts of +73.33% and -9.65%, respectively, from the last year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Canopy Growth Corporation. These revisions help to show the ever-changing nature of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
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 last 30 days, the Zacks Consensus EPS estimate has witnessed a 23.48% decrease. Canopy Growth Corporation currently has a Zacks Rank of #3 (Hold).
The Medical - Products industry is part of the Medical sector. With its current Zacks Industry Rank of 144, this industry ranks in the bottom 43% of all industries, numbering over 250.
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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.