Canopy Growth Corporation Stock Performance and Upcoming Earnings Report

LOS ANGELES- In the latest market close, Canopy Growth Corporation (CGC) reached $6.50, marking a +0.31% increase compared to the previous day. This performance was below the S&P 500’s daily gain of 0.55%. Meanwhile, the Dow and the tech-heavy Nasdaq saw increases of 0.62% and 0.63%, respectively.

Over the past month, Canopy Growth’s shares have declined by 13.14%, underperforming the Medical sector, which saw a gain of 0.19%, and the S&P 500, which gained 4.28%.

Attention is now focused on Canopy Growth’s upcoming earnings report. Analysts forecast an EPS of -$0.32, an improvement of 20% from the same quarter last year. Revenue is expected to be $52.67 million, a 34.94% decrease from the year-ago quarter.

For the full year, Zacks Consensus Estimates predict earnings of -$1.07 per share and revenue of $219.95 million. These figures represent changes of +73.58% and -10.04%, respectively, from the previous year.

Investors should monitor any recent changes in analyst estimates for Canopy Growth. Such revisions typically reflect the latest business trends, which can frequently change. Positive changes in estimates suggest a favorable outlook on the company’s business health and profitability.

Research indicates that these estimate adjustments are closely linked to stock price performance. The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), integrates these estimate changes and has a track record of outperformance. Currently, Canopy Growth Corporation has a Zacks Rank of #3 (Hold), with the consensus EPS projection moving 2.06% lower in the past 30 days.