Canopy Growth (CGC) Set to Announce Quarterly Earnings on Friday

Canopy Growth (NASDAQ:CGC) is set to issue its quarterly earnings data before the market opens on Friday, November 8th. Analysts expect the company to announce earnings of ($0.38) per share for the quarter. Parties interested in registering for the company’s conference call can do so using this link.

Canopy Growth (NASDAQ:CGC) last issued its earnings results on Friday, August 9th. The company reported ($0.37) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.06). Canopy Growth had a negative net margin of 240.19% and a negative return on equity of 73.30%. The business had revenue of $48.39 million for the quarter, compared to the consensus estimate of $51.82 million. On average, analysts expect Canopy Growth to post $-1 EPS for the current fiscal year and $-1 EPS for the next fiscal year.

Canopy Growth Trading Down 7.3 %

Shares of CGC stock opened at $4.59 on Friday. The company’s fifty day simple moving average is $4.75 and its two-hundred day simple moving average is $6.74. The company has a debt-to-equity ratio of 1.05, a current ratio of 2.15 and a quick ratio of 1.64. Canopy Growth has a 1 year low of $2.76 and a 1 year high of $14.92. The stock has a market capitalization of $430.84 million, a price-to-earnings ratio of -0.65 and a beta of 0.86.

Analysts Set New Price Targets

Separately, Piper Sandler decreased their price target on shares of Canopy Growth from $3.00 to $2.00 and set an “underweight” rating on the stock in a report on Tuesday, July 9th.

Canopy Growth Company Profile

Canopy Growth Corporation, together with its subsidiaries, engages in the production, distribution, and sale of cannabis and hemp-based products for recreational and medical purposes primarily in the United States, Canada, Germany, and internationally. It operates through Canada Cannabis, International Markets Cannabis, and Storz & Bickel segments.