Canopy Growth Corp (NYSE:CGC) Expected to Announce Earnings of -$0.29 Per Share

Brokerages expect Canopy Growth Corp (NYSE:CGC) to announce earnings per share of ($0.29) for the current fiscal quarter, Zacks Investment Research reports. Five analysts have provided estimates for Canopy Growth’s earnings. The highest EPS estimate is ($0.13) and the lowest is ($0.43). Canopy Growth reported earnings of ($0.31) per share in the same quarter last year, which would suggest a positive year over year growth rate of 6.5%. The firm is scheduled to report its next quarterly earnings results on Tuesday, August 13th.

On average, analysts expect that Canopy Growth will report full year earnings of ($0.90) per share for the current year, with EPS estimates ranging from ($1.51) to ($0.14). For the next financial year, analysts anticipate that the business will post earnings of ($0.49) per share, with EPS estimates ranging from ($0.94) to $0.19. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research analysts that cover Canopy Growth.

Canopy Growth (NYSE:CGC) last posted its earnings results on Thursday, June 20th. The marijuana producer reported ($0.67) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.17) by ($0.50). Canopy Growth had a negative return on equity of 15.82% and a negative net margin of 304.03%. The business had revenue of $70.74 million for the quarter, compared to the consensus estimate of $71.06 million.

A number of research firms have weighed in on CGC. Evercore ISI began coverage on shares of LYFT in a report on Wednesday, June 12th. They set an “outperform” rating and a $74.00 target price on the stock. Piper Jaffray Companies set a $92.00 target price on shares of Wintrust Financial and gave the stock a “buy” rating in a report on Monday, July 8th. Bryan, Garnier & Co reissued a “neutral” rating and set a $60.00 target price (down from $85.00) on shares of in a report on Friday, July 5th. LADENBURG THALM/SH SH began coverage on shares of Acreage in a report on Wednesday. They set a “buy” rating and a $18.00 target price on the stock. Finally, Compass Point began coverage on shares of Randsburg International Gold in a research note on Monday, June 10th. They issued a “buy” rating on the stock. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and ten have given a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $54.86.

Several large investors have recently bought and sold shares of CGC. Stone House Investment Management LLC acquired a new position in shares of Canopy Growth during the 1st quarter valued at $25,000. Ellis Investment Partners LLC acquired a new position in shares of Canopy Growth during the 1st quarter valued at $25,000. Global Retirement Partners LLC lifted its position in shares of Canopy Growth by 524.0% during the 1st quarter. Global Retirement Partners LLC now owns 624 shares of the marijuana producer’s stock valued at $27,000 after acquiring an additional 524 shares during the period. Private Capital Group LLC lifted its position in shares of Canopy Growth by 221.5% during the 1st quarter. Private Capital Group LLC now owns 643 shares of the marijuana producer’s stock valued at $28,000 after acquiring an additional 443 shares during the period. Finally, TCG Advisors LP acquired a new position in shares of Canopy Growth during the 1st quarter valued at $28,000. 8.02% of the stock is currently owned by institutional investors.

CGC traded down $0.31 during trading on Tuesday, reaching $35.49. 2,113,182 shares of the company’s stock were exchanged, compared to its average volume of 5,069,986. Canopy Growth has a one year low of $24.21 and a one year high of $59.25. The company has a quick ratio of 11.49, a current ratio of 12.32 and a debt-to-equity ratio of 0.12. The stock has a market capitalization of $12.27 billion, a PE ratio of -22.32 and a beta of 3.65. The stock has a fifty day moving average price of $39.84.

Canopy Growth Company Profile

Canopy Growth Corporation, together with its subsidiaries, engages in growing, possession, and sale of medical cannabis in Canada. Its products include dried flowers, oils and concentrates, softgel capsules, and hemps. The company offers its products under the Tweed, Black Label, Spectrum Cannabis, DNA Genetics, Leafs By Snoop, CraftGrow, and Foria brand names.

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Earnings History and Estimates for Canopy Growth (NYSE:CGC)

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