Canopy Growth Co. (NASDAQ:CGC) Expected to Post FY2026 Earnings of $0.05 Per Share
Canopy Growth Co. (NASDAQ:CGC - Get Rating) - Jefferies Financial Group lowered their FY2026 earnings per share (EPS) estimates for shares of Canopy Growth in a research report issued on Thursday, August 11th. Jefferies Financial Group analyst O. Bennett now anticipates that the company will post earnings per share of $0.05 for the year, down from their previous forecast of $0.07. The consensus estimate for Canopy Growth's current full-year earnings is ($0.79) per share.
CGC has been the subject of a number of other reports. CIBC decreased their price objective on shares of Canopy Growth from C$6.50 to C$5.00 in a report on Tuesday, May 31st. Bank of America decreased their price target on shares of Canopy Growth from $3.00 to $2.33 and set an "underperform" rating on the stock in a research note on Tuesday, July 5th. Benchmark lowered shares of Canopy Growth from a "hold" rating to a "sell" rating in a report on Friday, May 27th. Oppenheimer reiterated a "market perform" rating on shares of Canopy Growth in a research note on Wednesday, June 1st. Finally, Piper Sandler reduced their target price on shares of Canopy Growth from $3.00 to $2.50 and set an "underweight" rating for the company in a report on Monday, August 8th. Ten equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $8.51.
Canopy Growth Stock Performance
CGC opened at $3.30 on Monday. The company has a market capitalization of $1.63 billion, a price-to-earnings ratio of -0.60 and a beta of 2.01. Canopy Growth has a 1-year low of $2.13 and a 1-year high of $18.55. The business has a 50 day moving average price of $3.04 and a two-hundred day moving average price of $5.37. The company has a debt-to-equity ratio of 0.77, a current ratio of 3.94 and a quick ratio of 7.20.
Canopy Growth (NASDAQ:CGC - Get Rating) last announced its quarterly earnings data on Friday, August 5th. The company reported ($5.23) earnings per share for the quarter, missing the consensus estimate of ($0.28) by ($4.95).
Note from me, the consensus was -0.28 eps and Canopy reported -$5.23 eps missing the target by -$4.95.
The firm had revenue of $122.90 million during the quarter, compared to the consensus estimate of $113.45 million. Canopy Growth had a negative net margin of 558.27% and a negative return on equity of 25.21%. The firm's quarterly revenue was down 9.8% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.13) earnings per share.
Institutional Investors Weigh In On Canopy Growth
Several large investors have recently bought and sold shares of the stock. Prospera Financial Services Inc acquired a new stake in shares of Canopy Growth in the 1st quarter valued at approximately $29,000. Pure Financial Advisors LLC purchased a new stake in shares of Canopy Growth during the second quarter worth about $29,000. Congress Wealth Management LLC DE bought a new stake in Canopy Growth in the second quarter valued at about $31,000. CarsonAllaria Wealth Management Ltd. bought a new position in shares of Canopy Growth during the fourth quarter valued at approximately $32,000. Finally, Arkadios Wealth Advisors bought a new position in shares of Canopy Growth during the second quarter valued at approximately $33,000. Hedge funds and other institutional investors own 16.59% of the company's stock.