Canopy Growth Corporation (CGC) Beats Stock Market Upswing: What Investors Need to Know

Company Performance - Canopy Growth Corporation (CGC) closed at $1.14, reflecting a +2.7% increase from the previous day, outperforming the S&P 500's gain of 0.4% [1] - The stock has decreased by 10.48% over the past month, underperforming the Medical sector's gain of 1.19% and the S&P 500's gain of 4.61% [1] Earnings Expectations - Analysts anticipate Canopy Growth Corporation to report earnings of -$0.11 per share, indicating a year-over-year growth of 70.27% [2] - The consensus estimate for quarterly revenue is $48.08 million, which represents a decline of 0.64% compared to the same period last year [2] Full Year Projections - For the full year, analysts expect earnings of -$0.43 per share and revenue of $199.33 million, reflecting changes of +85.57% and +3.12% respectively from the previous year [3] Analyst Estimate Revisions - Recent modifications to analyst estimates for Canopy Growth Corporation are crucial as they indicate changing business trends, with positive revisions suggesting increased confidence in performance [4] - The Zacks Rank system, which incorporates these estimate changes, provides actionable ratings based on stock performance [5] Zacks Rank and Industry Position - Canopy Growth Corporation currently holds a Zacks Rank of 3 (Hold), with a recent downward shift of 5.69% in the consensus EPS estimate [6] - The Medical - Products industry, part of the Medical sector, has a Zacks Industry Rank of 175, placing it in the bottom 30% of over 250 industries [7]