173.47 +0.24 (0.14%)
After hours: 5:41PM EDT
|Bid||170.00 x 900|
|Ask||173.47 x 1000|
|Day's Range||171.47 - 175.24|
|52 Week Range||104.28 - 212.00|
|Beta (5Y Monthly)||0.92|
|PE Ratio (TTM)||N/A|
|Earnings Date||Jun 26, 2020 - Jun 30, 2020|
|Forward Dividend & Yield||3.00 (1.74%)|
|Ex-Dividend Date||May 04, 2020|
|1y Target Est||184.89|
Despite recent troubles, Canopy Growth is optimistic its cannabis beverages can dwarf the growth of hard seltzers.
Shares of Canopy growth (CGC) are trading 30% lower since its latest quarterly results last week. However one analyst sees share as undervalued for the Canadian cannabis company which has shifted from medical to more recreational sales when that market was legalized in Canada almost two years ago. “Although we expect the medical market to shrink because of recreational legalization, we forecast more than 10% average annual growth for the entire Canadian market through 2030, driven by the conversion of black-market consumers into the legal market and new cannabis consumers,” analyst Kristoffer Inton wrote in a note to investors.
Canopy Growth (NYSE: CGC) shares aren't anywhere close to their levels in late 2018 and early 2019 as the Canadian adult-use recreational marijuana market was first launching. If Canopy can remain a top leader in the industry, it could be able to deliver more impressive gains in the future than it has in the past. There's no question that Canopy has plenty of growth opportunities.
Canopy Growth earnings were much worse than views. The Canadian marijuana producer said it'll now focus on "select priority markets." Marijuana stocks fell.
The latest 13F reporting period has come and gone, and Insider Monkey is again at the forefront when it comes to making use of this gold mine of data. We at Insider Monkey have plowed through 821 13F filings that hedge funds and well-known value investors are required to file by the SEC. The 13F […]
Closing the books on a humbling fiscal year, Canopy Growth, the cannabis industry leader, disclosed a loss of 1.3 billion Canadian dollars, but promises better times ahead.
Canopy Growth Reports Full Year and 4th Quarter Fiscal 2020 Financial Results; Provides Strategic Review Update
Constellation’s Mission Bell facility is excluded from the transaction in response to concerns related to the production of the brands excluded from the December 2019 revised agreement. The transaction price is revised to approximately $1.03 billion, of which $250 million is an earnout based on divested brand performance over a two-year period. The transaction is expected to close in the second quarter of fiscal 2021, subject to FTC review.
Having a stable source of income, even if it's not guaranteed, can give investors peace of mind during times of turmoil.
The pot stock's been struggling over the past year, but there are plenty of reasons to be optimistic about its future.
In the latest trading session, Constellation Brands (STZ) closed at $179.38, marking a +1.68% move from the previous day.
Headquartered in Victor, New York, Constellation Brands describes itself as the "fastest-growing, large consumer product goods company in the U.S. at retail." After a substantial investment in Canadian cannabis company Canopy Growth, Constellation is working toward being the leader in cannabis-infused beverages and other products. On April 3, Constellation Brands released fiscal-year 2020 results.
VICTOR, N.Y., May 20, 2020 -- Constellation Brands, Inc. (NYSE: STZ and STZ.B), a leading beverage alcohol company, announced today that Garth Hankinson, chief financial.
Aurora Cannabis Inc.'s fiscal third-quarter numbers showed "encouraging signs, for a change," according to Cantor Fitzgerald analyst Pablo Zuanic, who reiterated his overweight rating and C$22 ($16) stock price target in a Friday note. The Canadian company posted sales that were 13% above FactSet consensus, with recreational weed up 24% from the prior quarter, "and began to show cost and cashflow improvements that give credence to the notion of positive EBITDA by the Sep quarter and positive cash flow by late FY21," said the note. The company also said that a new $250 million equity facility was a "backstop" and won't be needed if targets are met. Aurora, with 1.2 times net debt to current sales, is not in the same league as Canopy Growth Corp. or Cronos Inc. , which have bigger backstops thanks to investments from Constellation Brands Inc. in Canopy's case, and Altria Inc. in Cronos' case, said Zuanic. "That is why, we believe, ACB trades at a third of those stocks on EV/current sales, despite having similar or better growth prospects. It is in the "levered league." That said, this is not a company going bust, and we see value," the analyst wrote. Jefferies analyst Owen Bennett said the numbers offered reasons to be optimistic, but said that sales were never the issue for Aurora, but rather its cost structure. "To this, although a headline EBITDA miss today, we think consensus will warm to Aurora's chances of hitting their +ve adj. EBITDA target, especially given commentary around further levers to pull," Bennett wrote in a note. "As before, all eyes remain on 1Q as the big catalyst." Bennett rates the stock as hold with a C$1.00 price target. Aurora's U.S.-listed shares were up 23% premarket but are down 74% in the year to date, while the ETFMG Alternative Harvest ETF has fallen 35% and the S&P 500 has fallen 12%.
The first-quarter earnings season has revealed how quickly companies are embracing digital and automation strategies, as they shift to dealing with consumers who are complying with stay-at-home rules and other restrictions on movement during the coronavirus pandemic.
Top management changes are in the cards at Canopy Growth (NYSE: CGC). The company said that its chief operating officer Andre Fernandez and chief commercial officer Dave Bigioni are no longer employed there, after mutually agreeing with Canopy Growth to depart. Both Fernandez and Bigioni were veterans of the corporate world prior to their tenures at Canopy Growth.
Over the last 20 months, they have been impacted by valuation issues, a thriving black market, lower than expected demand, high inventory levels, mounting losses, health issues from the vaping scandals, and much more. The investor euphoria that surrounded cannabis stocks when Canada legalized marijuana for recreational use seems like a distant dream. The marijuana sector is still at a nascent stage and is expected to grow at a rapid pace in the upcoming decade.
In the latest trading session, Constellation Brands (STZ) closed at $164.68, marking a -0.83% move from the previous day.
U.S. inventories of the company’s imported Corona and Modelo beers will run out, because the Covid-19 pandemic has halted brewing in Mexico.
Welcome to the Cannabis Countdown. In This Week's Edition, We Recap and Countdown the Top 10 Marijuana and Psychedelic Stock News Stories for the Week of May 4th - 10th, 2020.Without further ado, let's get started.* Yahoo Finance readers, please click here to view full article.10\. Chairman and CEO of Profitable Cannabis Firm Joins Champignon Brands' Board of DirectorsChampignon Continues to Bolster its Impressive Team with the Company Appointing Pat McCutcheon to its BoardAs the Founder, CEO and Chairman of MediPharm Labs (OTCQX: MEDIF), McCutcheon was instrumental in creating one of the cannabis sector's only profitable Pot Stocks. McCutcheon's capital raising expertise, leadership skills and business acumen will be valuable assets for Champignon Brands (OTCQB: SHRMF) as it begins to accelerate its North American expansion of new Psychedelic clinics.READ FULL CHAMPIGNON ARTICLE9\. 3 Top Cannabis Stocks to Buy in MayThere Are Still Promising Picks in the Cannabis Sector for Long-Term InvestorsThere are three Marijuana Stocks that look especially appealing right now. Here's why Innovative Industrial Properties (NYSE: IIPR), Green Thumb (OTCQX: GTBIF) and Scotts Miracle-Gro (NYSE: SMG) are top cannabis stocks to buy in May.READ FULL MAY CANNABIS STOCKS ARTICLE8\. Aurora Cannabis Keeps Price Target at PI FinancialBeleaguered Cannabis Name Aurora Has Seen its Share Price Destroyed Over the Past Year, Dropping from to Ahead of quarterly Earnings from Aurora Cannabis (NYSE: ACB) due next week, PI Financial's Jason Zandberg said to be prepared for a COVID-19-inspired negative impact on the company's finances. In an update to clients on Wednesday, Zandberg maintained his "Neutral" rating and $2 target price, which at press time represented a projected 12-month return of 102%.READ FULL AURORA CANNABIS ARTICLE7\. Canopy Growth Receives Massive Cash Injection as Constellation Ups Stake in the Top Canadian LPAs a Result of Constellation's Warrant Exercise, Canopy Growth Added 5 Million to the Company's CoffersConstellation Brands (NYSE: STZ) exercised nearly 19 million warrants boosting its ownership position in Canopy Growth (NYSE: CGC) to over 142 million shares. After acquiring the new shares, here's what Constellation Brands' Canopy Growth position looks like now.READ FULL CANOPY CONSTELLATION ARTICLE6\. MindMed Announces Million Bought DealMindMed Plans to Use the Proceeds From the Equity Financing to Fund its University Hospital Basel CollaborationMindMed (OTC: MMEDF) announced that it has entered into a letter of engagement to conduct a bought deal with Eight Capital as the sole bookrunner and lead underwriter. The Psychedelics firm priced its financing at $0.53 per share for gross proceeds of $10,000,040.READ FULL MINDMED ARTICLE5\. Aphria Settles .8 Million in Convertible Debt with Share IssuanceIn Total, Aphria Will Be Repurchasing .8 Million of its Outstanding Debt Issued in April 2019Aphria (NYSE: APHA) announced that it has entered into an agreement with certain convertible debt holders to repurchase outstanding debt at a significant discount to the face value of that debt. What's more, is that the majority of the debt repurchase is being settled via the issuance of common shares with a small cash component involved.READ FULL APHRIA ARTICLE4\. Aleafia Health Secures Health Canada Licence Amendments for Paris Production and Extraction Facility Phase II ExpansionAleafia is Now in a Position to Accelerate its Cannabis 2.0 Strategy While Exponentially Increasing its Extraction, Production and Packaging CapacityAleafia Health's (OTCQX: ALEAF) wholly-owned subsidiary Emblem Cannabis has secured a Health Canada licence amendment for its Paris Facility's 30,000 sq. ft. Phase II expansion, entirely dedicated to the extraction, production, packaging and distribution of finished cannabis products.READ FULL ALEAFIA HEALTH ARTICLE3\. Cannabis Innovator Cronos Group Sees Revenue Jump 181% During Q1Cronos, Like Other Cannabis Companies, Has Been Dealing with the Effects of the Coronavirus OutbreakCronos Group (NASDAQ: CRON) saw its revenue spike 181% during the first quarter of 2020. The Canadian licensed producer (LP) revealed the number in its latest Earnings report on Friday.READ FULL CRONOS GROUP ARTICLE2\. Champignon Brands Assembles Task Force to Accelerate Expansion of New Psychedelic ClinicsThe Newly Formed Expansion Committee Plans to Accelerate Champignon's Entry into the Vast U.S. MarketBuilding off the recent AltMed deal, which saw Champignon Brands (OTCQB: SHRMF) acquire the Health Canada licensed CRTCE clinic, Champignon intends to open/acquire at least 5 new clinics in 2020. The Psychedelics leader disclosed that it continues to hold discussions with revenue-generating clinics in New York, California, Florida, Pennsylvania, Texas and Missouri.READ FULL CHAMPIGNON BRANDS ARTICLE1\. A Billion Market Valuation for Psychedelics May be Too LowPsychedelics Have Gone Mainstream, All Thanks to a Wide Range of Research That Points to Success in Treating a Range of Mental and Other Health-Related IssuesIn short, Psychedelics may change the way we look at medicine - and significantly help improve the health and mental state of millions of people around the world. If that's the case, a market value estimate of $5 billion may be at the very low end. As the growth story unfolds, some of the companies to keep an eye on include: Champignon Brands (OTCQB: SHRMF), MindMed (OTC: MMEDF), GW Pharma (NASDAQ: GWPH), Revive Therapeutics (OTCPK: RVVTF) and The Yield Growth (OTCQB: BOSQF).READ FULL PSYCHEDELICS SECTOR ARTICLEPhoto by Esteban Lopez on UnsplashSee more from Benzinga * Cannabis Countdown: Top 10 Marijuana And Psychedelics Industry News Stories Of The Week * Cannabis Countdown: Top 10 Marijuana And Psychedelic Stock News Stories Of The Week * Cannabis Countdown: Top 10 Marijuana And Psychedelics Industry News Stories Of The Week(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.