Q4 2024 EPS Estimates for Canopy Growth Co. Boosted by Analyst (NASDAQ:CGC)

Canopy Growth Co. (NASDAQ:CGC) – Equities research analysts at Roth Capital raised their Q4 2024 earnings per share estimates for shares of Canopy Growth in a research report issued on Wednesday, May 1st. Roth Capital analyst W. Kirk now anticipates that the company will earn ($0.16) per share for the quarter, up from their previous estimate of ($1.63). The consensus estimate for Canopy Growth’s current full-year earnings is ($6.14) per share. Roth Capital also issued estimates for Canopy Growth’s Q1 2025 earnings at ($0.04) EPS, Q2 2025 earnings at ($0.04) EPS, Q3 2025 earnings at ($0.06) EPS, Q4 2025 earnings at ($0.07) EPS and FY2025 earnings at ($0.20) EPS.

Several other research firms have also recently issued reports on CGC. Piper Sandler dropped their target price on Canopy Growth from $5.00 to $3.00 and set an “underperform” rating on the stock in a research report on Monday, February 12th. Sanford C. Bernstein increased their price objective on Canopy Growth to $5.00 and gave the stock a “market perform” rating in a research report on Wednesday, January 31st.

Canopy Growth Stock Down 1.0 %

Canopy Growth stock opened at $10.24 on Monday. The stock has a market capitalization of $1.04 billion, a price-to-earnings ratio of -0.68 and a beta of 1.10. The company has a current ratio of 1.79, a quick ratio of 1.40 and a debt-to-equity ratio of 0.96. The stock has a 50 day moving average of $6.73 and a two-hundred day moving average of $5.65. Canopy Growth has a twelve month low of $2.76 and a twelve month high of $19.20.

Canopy Growth (NASDAQ:CGC) last released its quarterly earnings results on Friday, February 9th. The company reported ($1.79) EPS for the quarter, missing the consensus estimate of ($0.45) by ($1.34). The business had revenue of $57.67 million during the quarter, compared to analysts’ expectations of $53.25 million. Canopy Growth had a negative net margin of 326.75% and a negative return on equity of 73.48%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Lord Abbett & CO. LLC acquired a new position in Canopy Growth during the 3rd quarter worth approximately $18,140,000. Commonwealth Equity Services LLC lifted its position in shares of Canopy Growth by 83.3% during the third quarter. Commonwealth Equity Services LLC now owns 544,333 shares of the company’s stock worth $426,000 after purchasing an additional 247,407 shares in the last quarter. TD Asset Management Inc boosted its stake in shares of Canopy Growth by 26.2% in the third quarter. TD Asset Management Inc now owns 383,086 shares of the company’s stock valued at $298,000 after purchasing an additional 79,639 shares during the period. Sycomore Asset Management acquired a new stake in Canopy Growth during the 3rd quarter valued at $39,000. Finally, Mackenzie Financial Corp increased its stake in Canopy Growth by 30.7% during the 3rd quarter. Mackenzie Financial Corp now owns 173,330 shares of the company’s stock worth $136,000 after buying an additional 40,675 shares during the period. 3.33% of the stock is owned by institutional investors and hedge funds.

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.