Roth Capital Research Analysts Boost Earnings Estimates for Canopy Growth Co. (NASDAQ:CGC)

Canopy Growth Co. (NASDAQ:CGC) – Roth Capital increased their Q4 2024 earnings per share (EPS) estimates for Canopy Growth in a research report issued to clients and investors on Wednesday, May 1st. Roth Capital analyst W. Kirk now expects that the company will earn ($0.16) per share for the quarter, up from their previous forecast 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.

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

Other analysts have also issued reports about the stock. Sanford C. Bernstein lifted their price target on shares of Canopy Growth to $5.00 and gave the stock a “market perform” rating in a research note on Wednesday, January 31st. Piper Sandler decreased their target price on shares of Canopy Growth from $5.00 to $3.00 and set an “underperform” rating for the company in a research note on Monday, February 12th.

Canopy Growth Trading Down 5.1 %

NASDAQ:CGC opened at $9.72 on Monday. Canopy Growth has a 52 week low of $2.76 and a 52 week high of $19.20. The stock has a market cap of $984.73 million, a price-to-earnings ratio of -0.64 and a beta of 1.10. The company’s 50 day moving average price is $6.73 and its 200-day moving average price is $5.65. The company has a quick ratio of 1.40, a current ratio of 1.79 and a debt-to-equity ratio of 0.96.

Hedge Funds Weigh In On Canopy Growth

Several hedge funds have recently modified their holdings of the stock. Vanguard Personalized Indexing Management LLC boosted its stake in Canopy Growth by 197.5% during the third quarter. Vanguard Personalized Indexing Management LLC now owns 43,179 shares of the company’s stock valued at $34,000 after buying an additional 28,666 shares during the last quarter. Sycomore Asset Management bought a new position in shares of Canopy Growth during the 3rd quarter valued at approximately $39,000. Genesee Capital Advisors LLC grew its holdings in shares of Canopy Growth by 29.9% in the first quarter. Genesee Capital Advisors LLC now owns 13,047 shares of the company’s stock valued at $113,000 after purchasing an additional 3,000 shares in the last quarter. Mackenzie Financial Corp increased its position in Canopy Growth by 30.7% in the third quarter. Mackenzie Financial Corp now owns 173,330 shares of the company’s stock worth $136,000 after purchasing an additional 40,675 shares during the last quarter. Finally, PCG Wealth Advisors LLC raised its stake in Canopy Growth by 73.6% during the first quarter. PCG Wealth Advisors LLC now owns 31,363 shares of the company’s stock valued at $271,000 after purchasing an additional 13,300 shares in the last quarter. Hedge funds and other institutional investors own 3.33% of the company’s stock.

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.