Atb Cap Markets Weighs in on Canopy Growth FY2030 Earnings

Canopy Growth Co. (NASDAQ:CGC - Free Report) - Stock analysts at Atb Cap Markets issued their FY2030 EPS estimates for shares of Canopy Growth in a research report issued to clients and investors on Sunday, June 1st. Atb Cap Markets analyst F. Gomes expects that the company will post earnings of ($0.10) per share for the year. The consensus estimate for Canopy Growth's current full-year earnings is ($2.81) per share.

Separately, Piper Sandler restated an "underweight" rating on shares of Canopy Growth in a report on Friday, May 30th.

Canopy Growth Stock Up 5.4%

Shares of CGC traded up $0.07 during mid-day trading on Wednesday, hitting $1.37. The company's stock had a trading volume of 7,506,682 shares, compared to its average volume of 5,907,858. The company has a current ratio of 3.52, a quick ratio of 2.58 and a debt-to-equity ratio of 0.74. The company's 50-day moving average is $1.29 and its 200-day moving average is $1.98. Canopy Growth has a 52-week low of $0.77 and a 52-week high of $8.65. The firm has a market capitalization of $251.90 million, a price-to-earnings ratio of -0.36 and a beta of 0.79.

Canopy Growth (NASDAQ:CGC - Get Free Report) last posted its quarterly earnings results on Friday, May 30th. The company reported ($0.94) earnings per share for the quarter, missing the consensus estimate of ($0.28) by ($0.66). The company had revenue of $45.30 million for the quarter, compared to the consensus estimate of $71.84 million. Canopy Growth had a negative net margin of 156.98% and a negative return on equity of 56.52%.

Hedge Funds Weigh In On Canopy Growth

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Jones Financial Companies Lllp boosted its holdings in shares of Canopy Growth by 222.9% in the 4th quarter. Jones Financial Companies Lllp now owns 9,315 shares of the company's stock valued at $26,000 after buying an additional 6,430 shares in the last quarter. Apollon Wealth Management LLC acquired a new stake in Canopy Growth in the fourth quarter valued at approximately $38,000. Dimensional Fund Advisors LP purchased a new position in Canopy Growth in the fourth quarter worth $41,000. Mackenzie Financial Corp grew its holdings in Canopy Growth by 56.5% in the first quarter. Mackenzie Financial Corp now owns 50,413 shares of the company's stock worth $47,000 after purchasing an additional 18,202 shares during the last quarter. Finally, Concurrent Investment Advisors LLC lifted its holdings in shares of Canopy Growth by 26.6% during the 4th quarter. Concurrent Investment Advisors LLC now owns 24,644 shares of the company's stock valued at $68,000 after purchasing an additional 5,172 shares during the last quarter. Hedge funds and other institutional investors own 3.33% of the company's stock.

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.