Wall Street analysts predict that Canopy Growth Corp (NYSE:CGC) will post earnings per share of ($0.20) for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for Canopy Growth’s earnings. The highest EPS estimate is ($0.14) and the lowest is ($0.28). Canopy Growth posted earnings of ($0.10) per share during the same quarter last year, which suggests a negative year-over-year growth rate of 100%. The firm is expected to announce its next quarterly earnings report on Wednesday, June 26th.

On average, analysts expect that Canopy Growth will report full year earnings of ($1.33) per share for the current financial year, with EPS estimates ranging from ($1.82) to ($0.59). For the next fiscal year, analysts expect that the business will report earnings of ($0.43) per share, with EPS estimates ranging from ($0.57) to ($0.23). Zacks’ earnings per share calculations are a mean average based on a survey of sell-side analysts that cover Canopy Growth.

Canopy Growth (NYSE:CGC) last posted its quarterly earnings results on Thursday, February 14th. The marijuana producer reported ($0.67) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.52). The company had revenue of $62.85 million during the quarter, compared to analysts’ expectations of $66.09 million. Canopy Growth had a negative return on equity of 14.39% and a negative net margin of 267.40%.

A number of research firms have recently issued reports on CGC. Zacks Investment Research raised shares of Canopy Growth from a “sell” rating to a “hold” rating in a research report on Monday. Seaport Global Securities reissued a “hold” rating on shares of Canopy Growth in a research report on Tuesday, April 2nd. Jefferies Financial Group began coverage on shares of Canopy Growth in a research report on Monday, February 25th. They issued a “hold” rating for the company. Piper Jaffray Companies reissued a “buy” rating on shares of Canopy Growth in a research report on Tuesday, April 2nd. Finally, GMP Securities lowered shares of Canopy Growth from a “buy” rating to a “hold” rating in a research report on Tuesday, February 19th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $54.32.

A number of large investors have recently added to or reduced their stakes in CGC. Vanguard Group Inc. grew its holdings in Canopy Growth by 4.4% during the third quarter. Vanguard Group Inc. now owns 4,310,420 shares of the marijuana producer’s stock valued at $209,658,000 after purchasing an additional 180,130 shares during the last quarter. Vanguard Group Inc grew its holdings in Canopy Growth by 4.4% during the third quarter. Vanguard Group Inc now owns 4,310,420 shares of the marijuana producer’s stock valued at $209,658,000 after purchasing an additional 180,130 shares during the last quarter. Morgan Stanley grew its holdings in Canopy Growth by 243.3% during the third quarter. Morgan Stanley now owns 4,144,694 shares of the marijuana producer’s stock valued at $201,598,000 after purchasing an additional 2,937,286 shares during the last quarter. ETF Managers Group LLC acquired a new position in Canopy Growth during the fourth quarter valued at approximately $40,644,000. Finally, Macquarie Group Ltd. acquired a new position in Canopy Growth during the third quarter valued at approximately $66,202,000. Hedge funds and other institutional investors own 8.53% of the company’s stock.

Shares of NYSE CGC traded down $1.56 during mid-day trading on Monday, reaching $40.73. The company had a trading volume of 3,876,551 shares, compared to its average volume of 8,656,883. The company has a debt-to-equity ratio of 0.10, a current ratio of 17.85 and a quick ratio of 17.12. The firm has a market capitalization of $13.41 billion, a price-to-earnings ratio of -127.28 and a beta of 4.22. Canopy Growth has a 12-month low of $20.99 and a 12-month high of $59.25.

About Canopy Growth

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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