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Canopy Growth Corporation (CGC) Registers a Bigger Fall Than the Market: Important Facts to Note
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In the latest trading session, Canopy Growth Corporation (CGC - Free Report) closed at $7.13, marking a -1.25% move from the previous day. The stock fell short of the S&P 500, which registered a loss of 0.71% for the day. Elsewhere, the Dow saw a downswing of 0.93%, while the tech-heavy Nasdaq depreciated by 0.81%.
Shares of the company have appreciated by 1.4% over the course of the past month, outperforming the Medical sector's loss of 0.16% and the S&P 500's gain of 1.08%.
Analysts and investors alike will be keeping a close eye on the performance of Canopy Growth Corporation in its upcoming earnings disclosure. The company is forecasted to report an EPS of -$0.32, showcasing a 20% upward movement from the corresponding quarter of the prior year. At the same time, our most recent consensus estimate is projecting a revenue of $52.67 million, reflecting a 34.94% fall from the equivalent quarter last year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of -$1.07 per share and a revenue of $219.95 million, indicating changes of +73.58% and -10.04%, respectively, from the former year.
It is also important to note the recent changes to analyst estimates for Canopy Growth Corporation. These revisions help to show the ever-changing nature of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional 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 past month, the Zacks Consensus EPS estimate has moved 0.92% higher. Canopy Growth Corporation is currently a Zacks Rank #3 (Hold).
The Medical - Products industry is part of the Medical sector. Currently, this industry holds a Zacks Industry Rank of 95, positioning it in the top 38% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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Canopy Growth Corporation (CGC) Registers a Bigger Fall Than the Market: Important Facts to Note
In the latest trading session, Canopy Growth Corporation (CGC - Free Report) closed at $7.13, marking a -1.25% move from the previous day. The stock fell short of the S&P 500, which registered a loss of 0.71% for the day. Elsewhere, the Dow saw a downswing of 0.93%, while the tech-heavy Nasdaq depreciated by 0.81%.
Shares of the company have appreciated by 1.4% over the course of the past month, outperforming the Medical sector's loss of 0.16% and the S&P 500's gain of 1.08%.
Analysts and investors alike will be keeping a close eye on the performance of Canopy Growth Corporation in its upcoming earnings disclosure. The company is forecasted to report an EPS of -$0.32, showcasing a 20% upward movement from the corresponding quarter of the prior year. At the same time, our most recent consensus estimate is projecting a revenue of $52.67 million, reflecting a 34.94% fall from the equivalent quarter last year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of -$1.07 per share and a revenue of $219.95 million, indicating changes of +73.58% and -10.04%, respectively, from the former year.
It is also important to note the recent changes to analyst estimates for Canopy Growth Corporation. These revisions help to show the ever-changing nature of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional 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 past month, the Zacks Consensus EPS estimate has moved 0.92% higher. Canopy Growth Corporation is currently a Zacks Rank #3 (Hold).
The Medical - Products industry is part of the Medical sector. Currently, this industry holds a Zacks Industry Rank of 95, positioning it in the top 38% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.