What to Expect from the Canopy Growth Quarterly Results

25 Juin, 2019, 05:41 | Auteur: Auguste Feret
  • Workers produce medical marijuana at Canopy Growth Corporation's Tweed facility in Smiths Falls Ont

Canopy Growth's stock (CGC) tumbled by more than 8% in early Friday trading, hurt by a disappointing quarterly earnings report that warned its impending merger with Acreage Holdings would result in a "material charge" to its 2020 results. These 52-week values data help to compare its recent price with high or low prices inside a one-year framework. Using ratings provided by analysts to Zacks Research, we can see that the current average broker rating on shares of Canopy Growth Corporation (ASX:CGC) is now 1.79. For the next financial year, analysts expect that the company will post earnings of ($0.46) per share, with EPS estimates ranging from ($0.94) to ($0.14).

Canopy Growth Corporation (CGC) stock price is trading at a gap of -5.02% away from the 20-Day SMA and figured out a distance of -9.98% from the its 50-Day SMA.

Overall, the stock market reaction to the numbers was negative, as the shares sank by more than seven per cent on the TSX to just over $53 a share. Jefferies Financial Group reaffirmed a "hold" rating and issued a C$64.00 target price on shares of Canopy Growth in a research report on Monday, February 25th.

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Technical Analysis of Canopy Growth Corporation: Looking into the profitability ratios of CGC stock, the shareholder will find its ROE, ROA and ROI standing at 0%, 0% and 0%, respectively. Piper Jaffray Companies' price target indicates a potential upside of 49.81% from the stock's previous close. Presently, analysts polled by Zacks Research have set a consensus target price of $55.95 on shares of Canopy Growth Corporation (ASX:CGC). Last quarter, Canopy acquired Storz & Bickel, medical device company that specializes in vaporizers. Finally, Stifel Nicolaus began coverage on Canopy Growth in a research note on Wednesday, June 5th. Bank of America has "Buy" rating and $7500 target. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and ten have given a buy rating to the stock. Over the last week, the stock has moved -0.16%.

Canopy also gave an update on its USA plans, where it's building up hemp operations in seven states in order to sell products containing the popular compound CBD. "Alongside our worldwide market strategies and U.S. Hemp strategy, we believe the acquisition of Acreage will be a key step in bolstering our position as a truly global company". TD Asset Management Inc. grew its stake in shares of Canopy Growth by 4.7% in the fourth quarter. Norges Bank bought a new stake in Canopy Growth in the fourth quarter worth about $30,296,000. Janney Montgomery Scott LLC now owns 35,680 shares of the marijuana producer's stock valued at $959,000 after buying an additional 25,636 shares in the last quarter. After having $-0.67 EPS previously, Canopy Growth Corporation's analysts see -74.63 % EPS growth. The firm offers dried, oil, and softgel cannabis products.

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