Canopy Growth (TSE:WEED) Posts Earnings Results

Canopy Growth (TSE:WEED) posted its earnings results on Friday. The company reported C($0.18) earnings per share (EPS) for the quarter, FiscalAI reports. The business had revenue of C$74.54 million for the quarter. Canopy Growth had a negative return on equity of 108.18% and a negative net margin of 201.27%.

Canopy Growth Price Performance

TSE WEED opened at C$1.51 on Friday. The stock has a 50-day simple moving average of C$1.72 and a 200 day simple moving average of C$1.79. The stock has a market capitalization of C$570.57 million, a PE ratio of -0.57, a P/E/G ratio of -0.01 and a beta of 1.76. The company has a debt-to-equity ratio of 120.38, a quick ratio of 2.32 and a current ratio of 1.39. Canopy Growth has a twelve month low of C$1.09 and a twelve month high of C$3.33.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on WEED shares. Benchmark upgraded shares of Canopy Growth from a “sell” rating to a “hold” rating in a research report on Monday, November 10th. Sanford C. Bernstein reduced their price target on Canopy Growth from C$5.30 to C$2.50 in a research report on Wednesday, January 14th. Finally, ATB Capital decreased their price target on Canopy Growth from C$1.60 to C$1.40 and set an “underperform” rating for the company in a research note on Thursday, December 11th. One equities research analyst has rated the stock with a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Sell” and an average price target of C$1.80.

Canopy Growth Company Profile

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. It also offers its products through Tweed Main Street, a single online platform that enables registered patients to purchase medicinal cannabis from various producers across various brands.