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Canopy Growth Corporation (CGC) Dips More Than Broader Markets: What You Should Know
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In the latest trading session, Canopy Growth Corporation (CGC - Free Report) closed at $41.01, marking a -1.42% move from the previous day. This move lagged the S&P 500's daily loss of 0.55%. Elsewhere, the Dow lost 0.5%, while the tech-heavy Nasdaq lost 0.42%.
Prior to today's trading, shares of the company had lost 20.76% over the past month. This has lagged the Medical sector's loss of 6.09% and the S&P 500's loss of 5.71% in that time.
Wall Street will be looking for positivity from CGC as it approaches its next earnings report date. This is expected to be November 14, 2018. On that day, CGC is projected to report earnings of -$0.09 per share, which would represent a year-over-year decline of 800%. Our most recent consensus estimate is calling for quarterly revenue of $109.90 million, up 683.88% from the year-ago period.
CGC's full-year Zacks Consensus Estimates are calling for earnings of -$0.38 per share and revenue of $356.29 million. These results would represent year-over-year changes of -18.75% and +484.53%, respectively.
Any recent changes to analyst estimates for CGC should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable 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 past month, the Zacks Consensus EPS estimate has moved 4.11% lower. CGC is currently a Zacks Rank #3 (Hold).
The Medical - Products industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 106, which puts it in the top 42% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Canopy Growth Corporation (CGC) Dips More Than Broader Markets: What You Should Know
In the latest trading session, Canopy Growth Corporation (CGC - Free Report) closed at $41.01, marking a -1.42% move from the previous day. This move lagged the S&P 500's daily loss of 0.55%. Elsewhere, the Dow lost 0.5%, while the tech-heavy Nasdaq lost 0.42%.
Prior to today's trading, shares of the company had lost 20.76% over the past month. This has lagged the Medical sector's loss of 6.09% and the S&P 500's loss of 5.71% in that time.
Wall Street will be looking for positivity from CGC as it approaches its next earnings report date. This is expected to be November 14, 2018. On that day, CGC is projected to report earnings of -$0.09 per share, which would represent a year-over-year decline of 800%. Our most recent consensus estimate is calling for quarterly revenue of $109.90 million, up 683.88% from the year-ago period.
CGC's full-year Zacks Consensus Estimates are calling for earnings of -$0.38 per share and revenue of $356.29 million. These results would represent year-over-year changes of -18.75% and +484.53%, respectively.
Any recent changes to analyst estimates for CGC should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable 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 past month, the Zacks Consensus EPS estimate has moved 4.11% lower. CGC is currently a Zacks Rank #3 (Hold).
The Medical - Products industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 106, which puts it in the top 42% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
You can find more information on all of these metrics, and much more, on Zacks.com.