Canopy Growth Co. (NASDAQ:CGC) Given Consensus Rating of “Hold” by Analysts

Shares of Canopy Growth Co. (NASDAQ:CGCGet Rating) have received a consensus rating of “Hold” from the nineteen analysts that are presently covering the company, MarketBeat.com reports. Seven research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $11.37.

Several research firms have commented on CGC. Oppenheimer reissued a “market perform” rating on shares of Canopy Growth in a research report on Wednesday. Canaccord Genuity Group cut their price objective on Canopy Growth from $12.00 to $10.00 in a research report on Thursday, February 10th. Alliance Global Partners cut their price objective on Canopy Growth from C$8.00 to C$7.00 in a research report on Friday, May 27th. Zacks Investment Research lowered Canopy Growth from a “buy” rating to a “hold” rating in a research report on Tuesday, May 24th. Finally, Barclays lowered Canopy Growth from an “equal weight” rating to an “underweight” rating in a research report on Tuesday, March 22nd.

NASDAQ:CGC opened at $4.71 on Friday. The business’s 50-day moving average is $6.11 and its two-hundred day moving average is $7.74. The company has a debt-to-equity ratio of 0.36, a current ratio of 8.31 and a quick ratio of 6.78. Canopy Growth has a 12 month low of $4.56 and a 12 month high of $26.96. The firm has a market capitalization of $1.86 billion, a PE ratio of -6.63 and a beta of 2.00.

Canopy Growth (NASDAQ:CGCGet Rating) last released its quarterly earnings data on Friday, May 27th. The company reported ($1.46) EPS for the quarter, missing the consensus estimate of ($0.24) by ($1.22). Canopy Growth had a negative net margin of 53.23% and a negative return on equity of 12.35%. The company had revenue of $126.10 million during the quarter, compared to analysts’ expectations of $130.34 million. During the same period last year, the business earned ($0.66) earnings per share. The company’s revenue for the quarter was down 24.7% compared to the same quarter last year. Equities analysts anticipate that Canopy Growth will post -0.63 EPS for the current year.

A number of hedge funds have recently modified their holdings of CGC. Amundi Pioneer Asset Management Inc. boosted its stake in Canopy Growth by 6.7% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 36,373 shares of the company’s stock valued at $1,577,000 after acquiring an additional 2,296 shares during the period. Wells Fargo & Company MN boosted its stake in Canopy Growth by 7.6% in the second quarter. Wells Fargo & Company MN now owns 29,817 shares of the company’s stock valued at $721,000 after acquiring an additional 2,107 shares during the period. Morgan Stanley boosted its position in shares of Canopy Growth by 4.5% during the second quarter. Morgan Stanley now owns 2,090,945 shares of the company’s stock worth $50,559,000 after buying an additional 89,385 shares during the period. Citigroup Inc. boosted its position in shares of Canopy Growth by 49.7% during the third quarter. Citigroup Inc. now owns 126,463 shares of the company’s stock worth $1,752,000 after buying an additional 41,972 shares during the period. Finally, First Republic Investment Management Inc. boosted its position in shares of Canopy Growth by 26.2% during the third quarter. First Republic Investment Management Inc. now owns 12,608 shares of the company’s stock worth $175,000 after buying an additional 2,619 shares during the period. Institutional investors own 16.59% of the company’s stock.

Canopy Growth Company Profile (Get Rating)

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.

See Also

Analyst Recommendations for Canopy Growth (NASDAQ:CGC)

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