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

Canopy Growth (NASDAQ:CGC) will announce its earnings results before the market opens on Friday, August 9th. Analysts expect the company to announce earnings of ($0.31) per share for the quarter. Investors interested in listening to the company’s conference call can do so using this link.

Canopy Growth (NASDAQ:CGC) last announced its earnings results on Thursday, May 30th. The company reported ($0.28) earnings per share for the quarter, topping the consensus estimate of ($0.33) by $0.05. Canopy Growth had a negative net margin of 185.77% and a negative return on equity of 62.67%. The business had revenue of $53.99 million during the quarter, compared to the consensus estimate of $52.71 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 Price Performance

Shares of CGC opened at $6.39 on Thursday. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.25 and a current ratio of 1.58. The company has a market capitalization of $517.59 million, a price-to-earnings ratio of -1.00 and a beta of 0.93. Canopy Growth has a fifty-two week low of $2.76 and a fifty-two week high of $19.20. The firm has a 50-day simple moving average of $7.07 and a 200-day simple moving average of $6.76.

Insider Activity at Canopy Growth

In other Canopy Growth news, Director Willy Kruh sold 3,738 shares of the business’s stock in a transaction on Monday, June 10th. The stock was sold at an average price of $9.94, for a total value of $37,155.72. Following the completion of the transaction, the director now directly owns 17,295 shares in the company, valued at approximately $171,912.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last three months, insiders have sold 7,545 shares of company stock valued at $67,997. Insiders own 0.35% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on CGC shares. Piper Sandler dropped their price objective on Canopy Growth from $3.00 to $2.00 and set an “underweight” rating on the stock in a report on Tuesday, July 9th. Atb Cap Markets upgraded shares of Canopy Growth to a “hold” rating in a research report on Monday, June 17th.

About Canopy Growth

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 Canada, the United States, and Germany. It operates through two segments, Global Cannabis and Other Consumer Products.