|Bid||24.02 x 0|
|Ask||23.93 x 0|
|Day's Range||23.40 - 25.32|
|52 Week Range||12.96 - 58.62|
|Beta (5Y Monthly)||2.49|
|PE Ratio (TTM)||N/A|
|Earnings Date||Aug. 10, 2020|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||28.71|
After Aurora Cannabis (NYSE: ACB) posted surprisingly positive Q3 results last week, some might have thought that Canopy Growth (NYSE: CGC) would have good news in its quarterly update this week. Canopy announced its fiscal 2020 fourth-quarter and full-year results on Friday and the marijuana stock fell more than 20% in intraday trading, which gives you an idea of how the company performed in Q4. Here are 10 things to hate about Canopy Growth's Q4 update, along with a couple of things to love.
Lower sales of recreational marijuana and large restructuring and impairment charges hurt the Canadian cannabis producer's performance.
Canopy Growth Corporation (CGC) delivered earnings and revenue surprises of -286.67% and -14.99%, respectively, for the quarter ended March 2020. Do the numbers hold clues to what lies ahead for the stock?
Canopy Growth has missed analyst expectation with weaker-than-expected sales of $108 million in its latest quarter, blaming lower Canadian recreational revenue for the 13 per cent quarterly decline.
Generated Net Revenue of $399 million in FY 2020, up 76% over FY 2019 In connection with previously announced organizational and strategic review, recorded impairment and restructuring charges of $743 ...
A pair of marijuana stocks, Tilray (NASDAQ: TLRY) and OrganiGram Holdings (NASDAQ: OGI), both dropped notably in price on Friday (by 5.2% and 7%, respectively). The culprit seems to be another weed title, Canopy Growth (NYSE: CGC), which earlier in the day published an awful quarterly earnings release. Canopy Growth is a leading company in the sector.
Some of the top TSX cannabis stocks have seen a consistent surge in the last few months. Do you own these in your portfolio?The post Market Rally: Top TSX Cannabis Stocks for June 2020 appeared first on The Motley Fool Canada.
TORONTO — Some of the most active companies traded Friday on the Toronto Stock Exchange:Toronto Stock Exchange (15,192.83, down 69.90 points.)Bombardier Inc. (TSX:BBD.B). Industrials. Down 3.5 cents, or 7.29 per cent, to 44.5 cents on 122 million shares.B2Gold Corp. (TSX:BTO). Materials. Up 46 cents, or 6.45 per cent, to $7.59 on 72.6 million shares.Yamana Gold (TSX:YRI). Materials. Up 37 cents, or 5.23 per cent, to $7.45 on 61.8 million shares.Suncor Energy Inc. (TSX:SU). Energy. Down 35 cents, or 1.46 per cent, to $23.67 on 33.9 million shares.Husky Energy Inc. (TSX:HSE). Energy. Down 31 cents, or 7.4 per cent, to $3.88 on 29.5 million shares.Kinross Gold Corp. (TSX:K). Materials. Down 12 cents, or 1.32 per cent, to $8.95 on 22.1 million shares.Companies in the news:Torstar Corp. (TSX:TS.B). Unchanged at 61 cents. A private investment company that is a major backer of Postmedia Network Corp. has agreed to provide financing for NordStar Capital's acquisition of Torstar Corp., the owner of the Toronto Star and other newspapers. NordStar says it considered several sources of outside funding and chose Canso Investment Counsel Ltd. because of its experience in the Canadian media industry. NordStar is a new company formed by Toronto businessmen Jordan Bitove and Paul Rivett, who have backgrounds in corporate finance.Canopy Growth Corp. (TSX:WEED). Down $6.36 or 20.8 per cent to $24.21. Canopy Growth Corp. is rethinking its first-to-every-market strategy after reporting a $1.3-billion loss in its fourth quarter. The Smiths Falls, Ont.-based cannabis company says as part of an ongoing restructuring it has decided not to strive to be the first to every market and will instead focus on select areas like Canada, the U.S. and Germany, where it believes it can be a leader. The change comes after CEO David Klein spent four months taking a deep dive into Canopy's operations and financials. He eventually decided to close a handful of facilities, take up to $800 million in writedowns and cut 800 staff.Laurentian Bank Financial Group (TSX:LB). Down $2.86 or 9.1 per cent to $28.44. Laurentian Bank reported its second-quarter profit fell nearly 80 per cent from a year ago and it cut its dividend in a move to give it more flexibility during the COVID-19 pandemic. The bank says it will now pay a quarterly dividend of 40 cents per share, down from 67 cents per share. Laurentian chief executive Francois Desjardins says the bank has a strong capital and liquidity position and disciplined risk management, but it is a time for prudence. The dividend cut came as Laurentian reported a profit of $8.9 million or 13 cents per share for the quarter ended April 30, down from $43.3 million or 95 cents per share in the same quarter a year ago.CWB Financial Group (TSX:CWB). Down 79 cents or 3.4 per cent to $22.59. CWB Financial Group reported its second-quarter profit fell compared with a year ago as the economy tanked due to the steps taken to slow the COVID-19 pandemic and its provisions for credit losses more than doubled. The Edmonton-based company says its provisions for credit losses for the quarter ended April 30 totalled $34.9 million, up from $15.2 million in the same quarter a year ago. The increase came as CWB reported a second-quarter profit attributable to common shareholders of $51.4 million or 59 cents per diluted share, down from $62 million or 71 cents per diluted share a year ago.This report by The Canadian Press was first published May 29, 2020.The Canadian Press
Some are high, some are low, so let's see where these three top cannabis producers fall with a $10,000 investment.The post Here’s How Much $10,000 Invested in Aurora, Canopy and Aphria Is Worth Today appeared first on The Motley Fool Canada.
Canopy Growth Corp. is rethinking its first-to-every-market strategy after reporting a $1.3-billion loss in its fourth quarter.The Smith Falls, Ont.-based cannabis company says as part of an ongoing restructuring it has decided not to strive to be the first to every market and will instead focus on select areas like Canada, the U.S. and Germany, where it believes it can be a leader."Canopy grew quickly to achieve a leading position in a rapidly-expanding industry and through that time period being first was clearly rewarded, but being first isn't a sustainable strategy or a point of differentiation," said David Klein, Canopy's chief executive, on a Friday call with analysts, where he announced the move.The change comes after Klein spent four months taking a deep dive into Canopy's operations and financials. He eventually decided to close a handful of facilities, take up to $800 million in writedowns and cut 800 staff.His review found that Canopy had grown from 400 employees in Canada to more than 4,000 across 15 global markets."While this was a great talking point, it came with great consequences," he said. "The company became less agile, siloed and was burning through too much cash."Klein revealed on Friday that Canopy incurred a loss of $3.72 per share in its fourth quarter ended March 31. That compared with a loss of $379.5 million or $1.10 per share in the same quarter a year earlier.Net revenue in the quarter totalled $107.9 million, up from $94.1 million during the same period a year prior."Our Q4 performance was mixed," said Klein. "Our top line performance didn't meet our expectations, and we lost market share in the Canadian recreational market."Aside from the restructuring, Canopy spent much of the quarter focused on staying afloat as COVID-19 spread throughout Canada.The pandemic caused the company to offer click-and-collect orders and close its 22 stores.Twenty of those locations have since reopened and two more are due to follow Monday."Luckily, we've seen only minor disruptions to date, mostly related to staff scheduling," Klein said. "Our supply chain is in good shape, having had ample inventory of consumables on hand pre-COVID and ensuring continuity of production thus far." Canopy also allocated resources towards launching a range of products including beverages from Tweed and Houseplant — a brand backed by actor Seth Rogen— and pod-based vape devices from Tokyo Smoke.It doubled its chocolate production capacity and expanded its hemp-derived cannabidiol products with a line of topicals in the U.S. and skin products in Europe and some American states.While the products proved popular with customers, chief financial officer Mike Lee conceded Canopy did not do enough to be successful in the quarter."We know we missed opportunities along the way as our supply chain grappled with some complex products and production systems and worked to gear itself against a very dynamic market with shifting demand and evolving consumer preferences and, quite honestly, volatile ordering patterns," he said.Canopy expects its 2021 financial year to be a transition year as it redeploys resources to key markets and rolls out further changes to reduce cash burn.It is not a quick transition, warned Klein, who acknowledged that the company has been slow to react to consumer preference shifts."It is my intent to ensure that we don't repeat those mistakes going forward."This report by The Canadian Press was first published May 29, 2020.Companies in this story: (TSX:WEED)Tara Deschamps, The Canadian Press
Shares of Canopy Growth (NYSE: CGC) were crashing 18.5% lower as of 10:01 a.m. EDT on Friday. Canopy's net revenue in Q4 fell 13% from the previous quarter to 107.9 million Canadian dollars. Any company that misses Wall Street's expectations as badly as Canopy did is going to experience repercussions.
Canopy Growth (CGC) is seeing favorable earnings estimate revision activity and has a positive Zacks Earnings ESP heading into earnings season.
Continued momentum from robust product demand is expected to have significantly contributed to Canopy Growth's (CGC) top line in the fiscal fourth quarter.
The pot stock's been struggling over the past year, but there are plenty of reasons to be optimistic about its future.
The largest pot stock in the world is set to report its fiscal fourth-quarter and full-year results on May 29.
Most Canadian licensed producers are likely sitting on underutilized or unused assets that they won't be able to move.
Investing in the Horizons Marijuana Life Sciences ETF (TSX:HMMJ) should help create massive wealth in the long-term. The post Should You Buy the HMMJ ETF Right Now? appeared first on The Motley Fool Canada.
Shares of Village Farms International (NASDAQ: VFF) were soaring 22.6% as of 3:50 p.m. EDT on Friday. The cannabis and greenhouse produce company didn't announce any news of its own, but there were several other developments that were likely behind Village Farms' big gain. One potential factor for the Village Farms' jump was Statistics Canada's release Friday morning of data showing that cannabis sales in Canada skyrocketed in March.
Company to host Virtual Investor Meeting on June 22, 2020 SMITHS FALLS, ON , May 22, 2020 /CNW/ - Canopy Growth Corporation ("Canopy Growth" or the "Company") (TSX: WEED) (NYSE: CGC) ...
Colorado Representative Ed Perlmutter joins Yahoo Finance’s Zack Guzman to discuss the future of cannabis in the U.S., along with his outlook on future stimulus legislation.