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Canopy Growth Corporation (CGC) closed at $40.07 in the latest trading session, marking a -0.64% move from the prior day. This change was narrower than the S&P 500's daily loss of 1.93%. Elsewhere, the Dow lost 2.03%, while the tech-heavy Nasdaq lost 2%.
Coming into today, shares of the company had gained 49.82% in the past month. In that same time, the Medical sector gained 2.12%, while the S&P 500 gained 1.48%.
Investors will be hoping for strength from CGC as it approaches its next earnings release, which is expected to be February 9, 2021. In that report, analysts expect CGC to post earnings of -$0.21 per share. This would mark year-over-year growth of 22.22%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $115.75 million, up 23.44% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.86 per share and revenue of $430.47 million. These totals would mark changes of +28.33% and +43.53%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for CGC. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an 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. The Zacks Consensus EPS estimate has moved 0.51% lower within the past month. CGC is holding a Zacks Rank of #4 (Sell) right now.
The Medical - Products industry is part of the Medical sector. This group has a Zacks Industry Rank of 220, putting it in the bottom 14% of all 250+ industries.
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.
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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