Canopy Growth Corporation (CGC) Stock Falls Amid Market Uptick: What Investors Need to Know

The most recent trading session ended with Canopy Growth Corporation (CGC) standing at $2.21, reflecting a -0.45% shift from the previouse trading day's closing. The stock's performance was behind the S&P 500's daily gain of 1.83%. On the other hand, the Dow registered a gain of 1.65%, and the technology-centric Nasdaq increased by 2.45%.Coming into today, shares of the company had lost 27.21% in the past month. In that same time, the Medical sector lost 3.48%, while the S&P 500 lost 3.31%.The upcoming earnings release of Canopy Growth Corporation will be of great interest to investors. The company is expected to report EPS of -$0.48, up 73.18% from the prior-year quarter. Meanwhile, the latest consensus estimate predicts the revenue to be $47.69 million, indicating a 17.31% decrease compared to the same quarter of the previous year.Regarding the entire year, the Zacks Consensus Estimates forecast earnings of -$3.31 per share and revenue of $192.31 million, indicating changes of +18.27% and -21.34%, respectively, compared to the previous year.Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Canopy Growth Corporation. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. As of now, Canopy Growth Corporation holds 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 137, which puts it in the bottom 46% of all 250+ industries.The Zacks Industry Rank gauges the strength of our 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.Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.Free Today: Profiting from The Future’s Brightest Energy SourceThe demand for electricity is growing exponentially. At the same time, we’re working to reduce our dependence on fossil fuels like oil and natural gas. Nuclear energy is an ideal replacement.Leaders from the US and 21 other countries recently committed to TRIPLING the world’s nuclear energy capacities. This aggressive transition could mean tremendous profits for nuclear-related stocks – and investors who get in on the action early enough.Our urgent report, Atomic Opportunity: Nuclear Energy's Comeback, explores the key players and technologies driving this opportunity, including 3 standout stocks poised to benefit the most.Download Atomic Opportunity: Nuclear Energy's Comeback free today.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