Canopy Growth Corporation (CGC) closed the latest trading day at $1.64, indicating a -1.51% change from the previous session's end. This change lagged the S&P 500's daily gain of 0.09%. Meanwhile, the Dow gained 0.32%, and the Nasdaq, a tech-heavy index, added 0.02%.
Heading into today, shares of the company had gained 39.5% over the past month, outpacing the Medical sector's gain of 0.14% and the S&P 500's gain of 13.05% in that time.
Market participants will be closely following the financial results of Canopy Growth Corporation in its upcoming release. The company plans to announce its earnings on May 30, 2025. On that day, Canopy Growth Corporation is projected to report earnings of -$0.28 per share, which would represent no growth from the year-ago period. Meanwhile, the latest consensus estimate predicts the revenue to be $49.92 million, indicating a 7.53% decrease compared to the same quarter of the previous year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Canopy Growth Corporation. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. Canopy Growth Corporation is currently sporting a Zacks Rank of #4 (Sell).
The Medical - Products industry is part of the Medical sector. This group has a Zacks Industry Rank of 165, putting it in the bottom 34% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow CGC in the coming trading sessions, be sure to utilize Zacks.com.
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Canopy Growth Corporation (CGC): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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