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Feb 09, 2021

Canopy Growth (CGC, $43.87) fiscal Q3 revenue beats analysts’ expectations

On Tuesday, Canadian cannabis company Canopy Growth  reported fiscal third-quarter revenue that surpassed analysts’ expectations. However, the company incurred a loss during the period.

The company’s revenue grew +23% year-over-year to a record-setting $152.5 million in the three months ending Dec. 31, 2020.

Canopy Growth’s fiscal third-quarter net loss came in at -C$829 million (-US$651.1 million), from $720 million in the year-ago quarter.

Adjusted earnings (loss) before interest, taxes, depreciation and amortization for the quarter were -C$68 million vs. - C$97 million a year ago.

Analysts polled by Bloomberg expected  revenue of $148.9 million and an adjusted EBITDA loss of -$71.1 million.

Canopy expects to generate positive adjusted EBITDA during the second half of 2022, and 20 per cent adjusted EBITDA margin for the full year 2024. It projects positive operating cash flow for the full year of 2023, and positive free cash flow for the full year of 2024. The forecasts are based on Canopy’s cost savings strategy, and expectations for compound annual net revenue growth of 40 to 50 per cent between 2022 and 2024.

"We are executing against our cost savings program, with several initiatives already completed and more underway to build a leaner and more agile business," chief financial officer Mike Lee said.

There is a  broader rally in Canadian cannabis shares, fueled by hopes for a policy shift in the U.S  that would remove pot from the country’s list of Schedule 1 drugs.

 

 

Related Ticker: CGC

CGC in -8.21% downward trend, falling for three consecutive days on March 04, 2024

Moving lower for three straight days is viewed as a bearish sign. Keep an eye on this stock for future declines. Considering data from situations where CGC declined for three days, in of 379 cases, the price declined further within the following month. The odds of a continued downward trend are .

Price Prediction Chart

Technical Analysis (Indicators)

Bearish Trend Analysis

The Momentum Indicator moved below the 0 level on February 06, 2024. You may want to consider selling the stock, shorting the stock, or exploring put options on CGC as a result. In of 75 cases where the Momentum Indicator fell below 0, the stock fell further within the subsequent month. The odds of a continued downward trend are .

The Moving Average Convergence Divergence Histogram (MACD) for CGC turned negative on February 08, 2024. This could be a sign that the stock is set to turn lower in the coming weeks. Traders may want to sell the stock or buy put options. Tickeron's A.I.dvisor looked at 44 similar instances when the indicator turned negative. In of the 44 cases the stock turned lower in the days that followed. This puts the odds of success at .

The Aroon Indicator for CGC entered a downward trend on March 04, 2024. This could indicate a strong downward move is ahead for the stock. Traders may want to consider selling the stock or buying put options.

Bullish Trend Analysis

The RSI Indicator demonstrates that the ticker has stayed in the oversold zone for 1 day, which means it's wise to expect a price bounce in the near future.

The Stochastic Oscillator demonstrated that the ticker has stayed in the oversold zone for 1 day, which means it's wise to expect a price bounce in the near future.

Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where CGC advanced for three days, in of 198 cases, the price rose further within the following month. The odds of a continued upward trend are .

CGC may jump back above the lower band and head toward the middle band. Traders may consider buying the stock or exploring call options.

Fundamental Analysis (Ratings)

Fear & Greed

The Tickeron Valuation Rating of (best 1 - 100 worst) indicates that the company is significantly overvalued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: P/B Ratio (0.685) is normal, around the industry mean (49.366). P/E Ratio (0.000) is within average values for comparable stocks, (89.669). CGC's Projected Growth (PEG Ratio) (0.000) is slightly lower than the industry average of (2.687). CGC has a moderately low Dividend Yield (0.000) as compared to the industry average of (0.027). P/S Ratio (0.732) is also within normal values, averaging (66.468).

The Tickeron Price Growth Rating for this company is (best 1 - 100 worst), indicating slightly worse than average price growth. CGC’s price grows at a lower rate over the last 12 months as compared to S&P 500 index constituents.

The Tickeron SMR rating for this company is (best 1 - 100 worst), indicating weak sales and an unprofitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.

The Tickeron PE Growth Rating for this company is (best 1 - 100 worst), pointing to worse than average earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.

The Tickeron Profit vs. Risk Rating rating for this company is (best 1 - 100 worst), indicating that the returns do not compensate for the risks. CGC’s unstable profits reported over time resulted in significant Drawdowns within these last five years. A stable profit reduces stock drawdown and volatility. The average Profit vs. Risk Rating rating for the industry is 91, placing this stock worse than average.

Notable companies

The most notable companies in this group are ZOETIS (NYSE:ZTS), Teva Pharmaceutical Industries Limited (NYSE:TEVA), Elanco Animal Health (NYSE:ELAN), Intra-Cellular Therapies (NASDAQ:ITCI), Bausch Health Companies (NYSE:BHC), Tilray Brands (NASDAQ:TLRY), Avadel Pharmaceuticals plc (NASDAQ:AVDL), Canopy Growth Corp (NASDAQ:CGC), Aurora Cannabis (NASDAQ:ACB), Journey Medical Corp (NASDAQ:DERM).

Industry description

Pharmaceuticals (Other) comprise companies that are involved in the discovery, development or manufacturing of therapeutic and preventative medicines. They often collaborate with or acquire other pharmaceutical/healthcare firms. Examples of companies in this segment include Bausch Health Companies Inc., Icon Plc and Perrigo Company Plc.

Market Cap

The average market capitalization across the Pharmaceuticals: Other Industry is 2.98B. The market cap for tickers in the group ranges from 246 to 87.37B. ZTS holds the highest valuation in this group at 87.37B. The lowest valued company is PEMTF at 246.

High and low price notable news

The average weekly price growth across all stocks in the Pharmaceuticals: Other Industry was -0%. For the same Industry, the average monthly price growth was 43%, and the average quarterly price growth was 35%. SCTL experienced the highest price growth at 96%, while BZAMF experienced the biggest fall at -51%.

Volume

The average weekly volume growth across all stocks in the Pharmaceuticals: Other Industry was 12%. For the same stocks of the Industry, the average monthly volume growth was 9% and the average quarterly volume growth was -11%

Fundamental Analysis Ratings

The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows

Valuation Rating: 54
P/E Growth Rating: 69
Price Growth Rating: 52
SMR Rating: 83
Profit Risk Rating: 91
Seasonality Score: 0 (-100 ... +100)
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A.I.Advisor
published price charts
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published General Information

General Information

a producer of medical marijuana

Industry PharmaceuticalsOther

Profile
Fundamentals
Details
Industry
Agricultural Commodities Or Milling
Address
1 Hershey Drive
Phone
+1 855 558-9333
Employees
1621
Web
https://www.canopygrowth.com
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CGC and

Correlation & Price change

A.I.dvisor indicates that over the last year, CGC has been closely correlated with SNDL. These tickers have moved in lockstep 77% of the time. This A.I.-generated data suggests there is a high statistical probability that if CGC jumps, then SNDL could also see price increases.

1D
1W
1M
1Q
6M
1Y
5Y
Ticker /
NAME
Correlation
To CGC
1D Price
Change %
CGC100%
-5.92%
SNDL - CGC
77%
Closely correlated
-1.45%
ACB - CGC
67%
Closely correlated
-4.42%
CRON - CGC
56%
Loosely correlated
-4.46%
TLRY - CGC
55%
Loosely correlated
-2.31%
OGI - CGC
50%
Loosely correlated
-6.25%
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