Canopy Growth Corporation (CGC) Sees a More Significant Dip Than Broader Market: Some Facts to Know

The most recent trading session ended with Canopy Growth Corporation (CGC) standing at $1.97, reflecting a -1.01% shift from the previouse trading day's closing. This move lagged the S&P 500's daily loss of 0.76%. Elsewhere, the Dow lost 0.28%, while the tech-heavy Nasdaq lost 1.2%.The company's stock has dropped by 32.31% in the past month, falling short of the Medical sector's gain of 8.26% and the S&P 500's gain of 2.71%.Investors will be eagerly watching for the performance of Canopy Growth Corporation in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on February 7, 2025. The company's earnings per share (EPS) are projected to be -$0.48, reflecting a 73.18% increase from the same quarter last year. Our most recent consensus estimate is calling for quarterly revenue of $47.69 million, down 17.31% from the year-ago period.For the annual period, the Zacks Consensus Estimates anticipate earnings of -$3.31 per share and a revenue of $192.31 million, signifying shifts of +18.27% and -21.34%, respectively, from the last year.Any recent changes to analyst estimates for Canopy Growth Corporation should also be noted by investors. Recent revisions tend to reflect the latest near-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. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. Canopy Growth Corporation is currently a Zacks Rank #3 (Hold).The Medical - Products industry is part of the Medical sector. Currently, this industry holds a Zacks Industry Rank of 132, positioning it in the bottom 48% 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.Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.Only $1 to See All Zacks' Buys and SellsWe're not kidding.Several years ago, we shocked our members by offering them 30-day access to all our picks for the total sum of only $1. No obligation to spend another cent.Thousands have taken advantage of this opportunity. Thousands did not - they thought there must be a catch. Yes, we do have a reason. We want you to get acquainted with our portfolio services like Surprise Trader, Stocks Under $10, Technology Innovators,and more, that closed 228 positions with double- and triple-digit gains in 2023 alone.See Stocks Now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Canopy Growth Corporation (CGC): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks