Canopy Growth (TSE:WEED) Posts Earnings Results

Canopy Growth (TSE:WEED) posted its quarterly earnings results on Monday. The company reported C($0.40) EPS for the quarter, FiscalAI reports. Canopy Growth had a negative return on equity of 35.48% and a negative net margin of 84.76%.The company had revenue of C$71.25 million during the quarter.

Canopy Growth Trading Down 3.6%

Shares of Canopy Growth stock opened at C$1.34 on Wednesday. The company has a debt-to-equity ratio of 39.95, a current ratio of 3.34 and a quick ratio of 2.32. Canopy Growth has a 1 year low of C$1.18 and a 1 year high of C$3.28. The firm has a market cap of C$566.58 million, a PE ratio of -0.72, a PEG ratio of -0.01 and a beta of 1.19. The company has a 50 day simple moving average of C$1.50 and a two-hundred day simple moving average of C$1.56.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. ATB Cormark Capital Markets raised Canopy Growth from a “sector perform” rating to an “outperform” rating and set a C$1.40 price target for the company in a report on Tuesday, March 17th. Canaccord Genuity Group set a C$2.00 price target on Canopy Growth and gave the stock a “speculative buy” rating in a report on Friday, March 27th. Finally, Alliance Global Partners dropped their price objective on Canopy Growth from C$1.80 to C$1.60 in a research note on Tuesday. Two investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of C$1.88.

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.