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Canopy Growth Corporation (CGC) Stock Sinks As Market Gains: What You Should Know

Zacks Equity Research

Canopy Growth Corporation (CGC) closed the most recent trading day at $29.21, moving -0.54% from the previous trading session. This change lagged the S&P 500's 0.01% gain on the day. Elsewhere, the Dow gained 0.35%, while the tech-heavy Nasdaq added 0.45%.

Prior to today's trading, shares of the company had lost 10.38% over the past month. This has lagged the Medical sector's loss of 5.57% and the S&P 500's loss of 7.29% in that time.

CGC will be looking to display strength as it nears its next earnings release, which is expected to be February 13, 2019. In that report, analysts expect CGC to post earnings of -$0.09 per share. This would mark year-over-year growth of 18.18%. Our most recent consensus estimate is calling for quarterly revenue of $73.90 million, up 332.42% from the year-ago period.

For the full year, our Zacks Consensus Estimates are projecting earnings of -$0.88 per share and revenue of $218.90 million, which would represent changes of -175% and +259.13%, respectively, from the prior year.

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Investors might also notice recent changes to analyst estimates for CGC. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.

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 117.28% lower within the past month. CGC is currently sporting 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 97, which puts it in the top 38% 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.

Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.


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