|Bid||145.08 x 900|
|Ask||186.73 x 800|
|Day's Range||171.28 - 176.28|
|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 (1.71%)|
|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 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.
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.
Constellation Brands (NYSE:STZ) exercised warrants to acquire additional shares in Canopy (TSX:WEED)(NYSE:CGC).The post The Constellation Investment Is Proving to Be Canopy’s (TSX:WEED) Most Significant Competitive Advantage appeared first on The Motley Fool Canada.
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.
Constellation Brands (NYSE: STZ) has given Canopy Growth (NYSE: CGC) a renewed strong vote of confidence. On May 1, the company known for its Corona beers announced that it would be exercising warrants which would give Constellation a 38.6% stake in the cannabis company. In 2018, it invested another $4 billion into Canopy Growth.
Investors will get to decide if the Canopy Growth’s beverage bet is paying off as cannabis fights an uphill battle for a home inside Canadian coolers.
Constellation Brands CEO Bill Newlands joins Yahoo Finance to discuss the state of the beer industry amidst the COVID-19 pandemic.
Bill Newlands, President and CEO of Constellations Brands, joins Yahoo Finance to discuss the overall state of the business, production of Corona and Modelo in Mexico, why the company increased its stake in Canopy Growth and its plans to celebrate Cinco De Mayo differently this year, including ways consumers can giveback.
(Bloomberg) -- Mexico’s beer lovers have had a hard time finding stocked shelves after the government deemed the industry non-essential and ordered it shut.But Constellation Brands Inc., the company that brews Modelo brands like Corona in Mexico and sells them in the U.S. market, is continuing its operations in the country amid the coronavirus pandemic.Last week, the operator of Latin America’s largest chain of convenience stores said its Oxxo stores could run out of beer in the next 10 days as Mexican breweries run by Anheuser-Bush InBev SA’s Grupo Modelo and Heineken NV have been shut for weeks. Constellation Brands, which has two plants in northern Mexico, has kept them going.“We’ve had ongoing discussions with the Mexican government and continue to operate in compliance with the law,” said spokesman Michael McGrew in an email response to questions. The company has significantly reduced its production activities and the number of people on site at its facilities, he said.Beer production isn’t authorized under current sanitary restrictions, Deputy Health Minister Hugo Lopez-Gatell said in an April 10 news conference. Health officials declined to comment about Constellation’s ongoing production, and Labor Ministry officials didn’t immediately respond to a request for comment.President Andres Manuel Lopez Obrador declared a national health emergency at the end of March and called for a halt to non-essential activities that included most manufacturing.Under current conditions, Constellation Brands only has inventory for about 40 days, which seems insufficient for popular configurations, according to a research note by MKM analyst Bill Kirk.(Updates with no comment from government in fifth paragraph and research note in last paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Anyone thinking that Constellation Brands (NYSE: STZ) was starting to regret its multibillion-dollar investment in Canopy Growth (NYSE: CGC) just found out how far off base they were. Constellation announced on May 1 that it had exercised nearly 18.9 million warrants to buy another 5.1% of Canopy Growth's outstanding shares for $245 million Canadian, which translates to close to US$174 million. Canopy Growth has been a major drag on Constellation's financial performance every quarter since the big adult beverage company invested $4 billion in the Canadian cannabis producer in 2018.