Canopy Growth Corp (NYSE:CGC) – Research analysts at Piper Jaffray Companies issued their Q3 2019 EPS estimates for shares of Canopy Growth in a note issued to investors on Tuesday, January 8th. Piper Jaffray Companies analyst M. Lavery forecasts that the marijuana producer will post earnings of ($0.05) per share for the quarter. Piper Jaffray Companies currently has a “Overweight” rating and a $40.00 target price on the stock. Piper Jaffray Companies also issued estimates for Canopy Growth’s Q4 2019 earnings at ($0.05) EPS, FY2019 earnings at ($0.84) EPS, Q1 2020 earnings at ($0.05) EPS, Q2 2020 earnings at ($0.07) EPS, Q3 2020 earnings at ($0.08) EPS, Q4 2020 earnings at ($0.08) EPS, FY2020 earnings at ($0.29) EPS, Q1 2021 earnings at ($0.07) EPS, Q2 2021 earnings at ($0.08) EPS, Q3 2021 earnings at ($0.08) EPS and FY2021 earnings at ($0.30) EPS.

Several other equities analysts also recently weighed in on CGC. Zacks Investment Research raised Canopy Growth from a “sell” rating to a “hold” rating in a research report on Friday, September 21st. Benchmark initiated coverage on Canopy Growth in a research report on Tuesday, September 25th. They set a “buy” rating on the stock. initiated coverage on Canopy Growth in a research report on Friday, October 12th. They set a “sell” rating and a $30.00 target price on the stock. They noted that the move was a valuation call. Finally, Scotiabank initiated coverage on Canopy Growth in a research report on Wednesday, October 17th. They set a “hold” rating and a $61.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $43.67.

NYSE CGC opened at $37.55 on Friday. The company has a market cap of $7.80 billion, a PE ratio of -117.34 and a beta of 3.31. Canopy Growth has a fifty-two week low of $16.74 and a fifty-two week high of $59.25.

Canopy Growth (NYSE:CGC) last released its earnings results on Wednesday, November 14th. The marijuana producer reported ($0.76) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.12) by ($0.64). The company had revenue of $23.30 million for the quarter, compared to the consensus estimate of $59.10 million. Canopy Growth had a negative net margin of 503.14% and a negative return on equity of 26.32%. Canopy Growth’s quarterly revenue was up 32.4% on a year-over-year basis.

A number of institutional investors have recently made changes to their positions in the business. Vanguard Group Inc grew its position in Canopy Growth by 4.4% in the 3rd quarter. Vanguard Group Inc now owns 4,310,420 shares of the marijuana producer’s stock valued at $209,658,000 after acquiring an additional 180,130 shares during the last quarter. Vanguard Group Inc. grew its position in Canopy Growth by 4.4% in the 3rd quarter. Vanguard Group Inc. now owns 4,310,420 shares of the marijuana producer’s stock valued at $209,658,000 after acquiring an additional 180,130 shares during the last quarter. Morgan Stanley grew its position in Canopy Growth by 243.3% in the 3rd quarter. Morgan Stanley now owns 4,144,694 shares of the marijuana producer’s stock valued at $201,598,000 after acquiring an additional 2,937,286 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its position in Canopy Growth by 234.7% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,802,260 shares of the marijuana producer’s stock valued at $87,492,000 after acquiring an additional 1,263,825 shares during the last quarter. Finally, Macquarie Group Ltd. bought a new position in Canopy Growth in the 3rd quarter valued at $66,202,000. 11.97% of the stock is currently owned by institutional investors.

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, Bedrocan Canada, CraftGrow, and Foria brand names.

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

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