Canopy Growth Corporation (CGC) ended the recent trading session at $0.96, demonstrating a -1.15% change from the preceding day's closing price. This move lagged the S&P 500's daily loss of 0.79%. Meanwhile, the Dow experienced a drop of 0.26%, and the technology-dominated Nasdaq saw a decrease of 1.55%.
Shares of the company have depreciated by 2.88% over the course of the past month, underperforming the Medical sector's gain of 5.5%, and the S&P 500's gain of 4.28%.
Analysts and investors alike will be keeping a close eye on the performance of Canopy Growth Corporation in its upcoming earnings disclosure. On that day, Canopy Growth Corporation is projected to report earnings of -$0.04 per share, which would represent year-over-year growth of 71.43%. Simultaneously, our latest consensus estimate expects the revenue to be $58.52 million, showing a 12.25% escalation compared to the year-ago quarter.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.11 per share and revenue of $243.57 million. These totals would mark changes of +75.56% and +18.26%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Canopy Growth Corporation. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
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, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 13.79% lower. Canopy Growth Corporation presently features a Zacks Rank of #3 (Hold).
The Medical - Products industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 186, which puts it in the bottom 25% 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 follow all of these stock-moving metrics, and many more, on Zacks.com.
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Canopy Growth Corporation (CGC): Free Stock Analysis Report
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