Wall Street brokerages predict that Canopy Growth Corp (NYSE:CGC) will report ($0.29) earnings per share (EPS) for the current fiscal quarter, Zacks reports. Five analysts have provided estimates for Canopy Growth’s earnings, with the lowest EPS estimate coming in at ($0.43) and the highest estimate coming in at ($0.13). Canopy Growth reported earnings per share of ($0.31) in the same quarter last year, which would suggest a positive year over year growth rate of 6.5%. The business is scheduled to report its next quarterly earnings results on Tuesday, August 13th.

On average, analysts expect that Canopy Growth will report full year earnings of ($0.90) per share for the current year, with EPS estimates ranging from ($1.51) to ($0.14). For the next year, analysts forecast that the firm will post earnings of ($0.49) per share, with EPS estimates ranging from ($0.94) to $0.19. Zacks’ earnings per share calculations are an average based on a survey of research analysts that that provide coverage for Canopy Growth.

Canopy Growth (NYSE:CGC) last released its earnings results on Thursday, June 20th. The marijuana producer reported ($0.67) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.17) by ($0.50). The firm had revenue of $70.74 million for the quarter, compared to analyst estimates of $71.06 million. Canopy Growth had a negative return on equity of 15.82% and a negative net margin of 304.03%.

A number of research firms have weighed in on CGC. Piper Jaffray Companies set a $92.00 target price on shares of Wintrust Financial and gave the stock a “buy” rating in a research report on Monday, July 8th. Seaport Global Securities began coverage on shares of Weyerhaeuser in a research report on Tuesday, April 2nd. They set a “buy” rating for the company. GMP Securities raised shares of Canopy Growth from a “hold” rating to a “buy” rating and boosted their target price for the stock from $65.00 to $72.00 in a research report on Monday, April 22nd. Stifel Nicolaus reissued a “buy” rating on shares of Canopy Growth in a research report on Wednesday, July 3rd. Finally, Compass Point began coverage on shares of Randsburg International Gold in a research report on Monday, June 10th. They set a “buy” rating for the company. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and ten have given a buy rating to the company’s stock. Canopy Growth presently has an average rating of “Hold” and a consensus price target of $54.86.

Canopy Growth stock traded down $0.31 on Tuesday, reaching $35.49. 2,113,182 shares of the stock were exchanged, compared to its average volume of 5,069,986. The firm has a market cap of $12.27 billion, a PE ratio of -22.32 and a beta of 3.65. The company has a debt-to-equity ratio of 0.12, a quick ratio of 11.49 and a current ratio of 12.32. Canopy Growth has a twelve month low of $24.21 and a twelve month high of $59.25. The company’s fifty day moving average is $39.84.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Alpha Cubed Investments LLC acquired a new position in shares of Canopy Growth during the second quarter valued at about $256,000. SeaCrest Wealth Management LLC raised its position in shares of Canopy Growth by 11.7% during the second quarter. SeaCrest Wealth Management LLC now owns 14,581 shares of the marijuana producer’s stock valued at $588,000 after buying an additional 1,529 shares during the last quarter. Focused Wealth Management Inc raised its position in shares of Canopy Growth by 38.0% during the second quarter. Focused Wealth Management Inc now owns 4,481 shares of the marijuana producer’s stock valued at $181,000 after buying an additional 1,235 shares during the last quarter. Commonwealth Equity Services LLC raised its position in shares of Canopy Growth by 6.6% during the second quarter. Commonwealth Equity Services LLC now owns 317,827 shares of the marijuana producer’s stock valued at $12,811,000 after buying an additional 19,799 shares during the last quarter. Finally, Meridian Wealth Management LLC raised its position in shares of Canopy Growth by 34.5% during the second quarter. Meridian Wealth Management LLC now owns 6,359 shares of the marijuana producer’s stock valued at $256,000 after buying an additional 1,630 shares during the last quarter. 8.02% of the stock is owned by institutional investors and hedge funds.

About Canopy Growth

Canopy Growth Corporation, together with its subsidiaries, engages in growing, possession, and sale of medical cannabis in Canada. Its products include dried flowers, oils and concentrates, softgel capsules, and hemps. The company offers its products under the Tweed, Black Label, Spectrum Cannabis, DNA Genetics, Leafs By Snoop, CraftGrow, and Foria brand names.

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