Canopy Growth Co. (NASDAQ:CGC) to Post Q4 2024 Earnings of ($0.16) Per Share, Roth Capital Forecasts

Canopy Growth Co. (NASDAQ:CGC) – Roth Capital boosted 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 post earnings per share of ($0.16) 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.

A number of other research firms have also recently commented on CGC. Sanford C. Bernstein boosted their price objective on Canopy Growth to $5.00 and gave the company a “market perform” rating in a research report on Wednesday, January 31st. Piper Sandler cut their price target on shares of Canopy Growth from $5.00 to $3.00 and set an “underperform” rating for the company in a report on Monday, February 12th.

Canopy Growth Price Performance

Shares of Canopy Growth stock opened at $9.48 on Monday. The firm has a market cap of $960.42 million, a PE ratio of -0.63 and a beta of 1.10. The business has a 50-day moving average price of $6.86 and a 200 day moving average price of $5.68. The company has a quick ratio of 1.40, a current ratio of 1.79 and a debt-to-equity ratio of 0.96. Canopy Growth has a twelve month low of $2.76 and a twelve month high of $19.20.

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

Institutional Trading of Canopy Growth

Several large investors have recently made changes to their positions in the company. Genesee Capital Advisors LLC grew its holdings in shares of Canopy Growth by 29.9% during the first quarter. Genesee Capital Advisors LLC now owns 13,047 shares of the company’s stock worth $113,000 after buying an additional 3,000 shares in the last quarter. PCG Wealth Advisors LLC boosted its position in Canopy Growth by 73.6% during the first quarter. PCG Wealth Advisors LLC now owns 31,363 shares of the company’s stock worth $271,000 after acquiring an additional 13,300 shares during the last quarter. Concurrent Investment Advisors LLC purchased a new stake in Canopy Growth during the 1st quarter valued at about $289,000. Gainplan LLC acquired a new stake in Canopy Growth in the 1st quarter valued at about $302,000. Finally, Vanguard Personalized Indexing Management LLC boosted its holdings in shares of Canopy Growth by 197.5% during the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 43,179 shares of the company’s stock worth $34,000 after purchasing an additional 28,666 shares during the last quarter. 3.33% of the stock is currently owned by hedge funds and other institutional investors.

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.