Piper Jaffray Companies Initiates Coverage on Canopy Growth (NYSE:CGC)

Benchmark initiated coverage on shares of Canopy Growth in a report on Tuesday, September 25th. They issued a “buy” rating for the company.

Canopy Growth logoAnalysts at Piper Jaffray Companies started coverage on shares of Canopy Growth (NYSE:CGC) in a research report issued on Wednesday, January 9th, Marketbeat reports. The brokerage set an “overweight” rating and a $40.00 price target on the marijuana producer’s stock. Piper Jaffray Companies’ price target indicates a potential downside of 6.48% from the company’s previous close. Piper Jaffray Companies also issued estimates for Canopy Growth’s Q3 2019 earnings at ($0.05) EPS, Q4 2019 earnings at ($0.05) EPS, FY2019 earnings at ($0.84) EPS, Q1 2020 earnings at ($0.05) EPS, Q2 2020 earnings at ($0.07) EPS, Q3 2020 earnings at ($0.08) EPS, Q4 2020 earnings at ($0.08) EPS, FY2020 earnings at ($0.29) EPS, Q1 2021 earnings at ($0.07) EPS, Q2 2021 earnings at ($0.08) EPS, Q3 2021 earnings at ($0.08) EPS and FY2021 earnings at ($0.30) EPS.

Several other equities analysts have also weighed in on the stock. started coverage on shares of Canopy Growth in a research report on Friday, October 12th. They set a “sell” rating and a $30.00 price objective for the company. They noted that the move was a valuation call. Zacks Investment Research upgraded shares of Canopy Growth from a “sell” rating to a “hold” rating in a report on Friday, September 21st. Benchmark initiated coverage on shares of Canopy Growth in a report on Tuesday, September 25th. They issued a “buy” rating for the company. Finally, Scotiabank initiated coverage on shares of Canopy Growth in a report on Wednesday, October 17th. They issued a “hold” rating and a $61.00 target price for the company. Two analysts have rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the stock. Canopy Growth has an average rating of “Hold” and an average price target of $43.67.

CGC traded up $0.67 on Wednesday, reaching $42.77. The company had a trading volume of 11,638,538 shares, compared to its average volume of 14,370,070. The firm has a market capitalization of $9.59 billion, a PE ratio of -133.66 and a beta of 3.31. Canopy Growth has a one year low of $16.74 and a one year high of $59.25.

Canopy Growth (NYSE:CGC) last announced its earnings results on Wednesday, November 14th. The marijuana producer reported ($0.76) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.12) by ($0.64). Canopy Growth had a negative net margin of 503.14% and a negative return on equity of 26.32%. The company had revenue of $23.30 million during the quarter, compared to the consensus estimate of $59.10 million. The company’s revenue was up 32.4% on a year-over-year basis. As a group, research analysts anticipate that Canopy Growth will post -0.87 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. North Star Investment Management Corp. bought a new position in shares of Canopy Growth in the fourth quarter valued at approximately $26,000. Exane Derivatives bought a new position in shares of Canopy Growth in the third quarter valued at approximately $117,000. Kiley Juergens Wealth Management LLC raised its position in shares of Canopy Growth by 867.2% in the third quarter. Kiley Juergens Wealth Management LLC now owns 2,418 shares of the marijuana producer’s stock valued at $117,000 after purchasing an additional 2,168 shares during the period. Fifth Third Bancorp raised its position in shares of Canopy Growth by 349.1% in the third quarter. Fifth Third Bancorp now owns 2,470 shares of the marijuana producer’s stock valued at $120,000 after purchasing an additional 1,920 shares during the period. Finally, Advisory Services Network LLC bought a new position in shares of Canopy Growth in the third quarter valued at approximately $138,000. 11.97% of the stock is currently owned by hedge funds and other institutional investors.

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, Bedrocan Canada, CraftGrow, and Foria brand names.

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Trading Notebook: Stock On the Rise 10.01% Over the Last Month Pembina Pipeline Cor (PBA)

After a recent market scan, we can see that Alteryx Inc (AYX) shares have moved 10.01% higher over the past month. Tracking performance over the …

After a recent market scan, we can see that Alteryx Inc (AYX) shares have moved 10.01% higher over the past month. Tracking performance over the last 5 sessions, shares have moved 4.61%. Over the last half-year, shares have changed 63.05%. Over the last full year, shares have moved 155.91%.

As we move deeper into the year, investors will be paying attention to which companies are well-positioned for future growth. Even if the current earnings reports are a mixed bag, investors can study which industries look they are taking the top spot. Many active investors may be focusing on which way estimates are trending heading into the company earnings release. Analysts will often make updates to projections shortly before and after the earnings numbers are provided. Many active investors may enjoy the volatility that comes with trading around earnings, but others will choose to let the heavy action pass before deciding which stocks to buy or sell next.

After conducting extensive research and thoroughly combing through fundamentals and technicals, it may be time for the investor to make some tough buy or sell decisions. Investors may be keen to the notion that the frequency of being right in making decisions may not be as important as the magnitude of the correctness.

Technical traders may be looking at recent indicator levels on shares of Pembina Pipeline Cor (PBA). After a recent check, the 50-day Moving Average is 32.55, the 200-day Moving Average is 33.68, and the 7-day is noted at 32.81. Moving averages have the ability to be used as a powerful indicator for technical stock analysis. Following multiple time frames using moving averages can help investors figure out where the stock has been and help determine where it may be possibly going. The simple moving average is a mathematical calculation that takes the average price (mean) for a given amount of time.

Pembina Pipeline Cor (PBA)’s Williams Percent Range or 14 day Williams %R is sitting at -3.73. Typically, if the value heads above -20, the stock may be considered to be overbought. On the flip side, if the indicator goes under -80, this may signal that the stock is oversold.

Traders may be leaning on technical stock analysis to help with investing decisions. Pembina Pipeline Cor (PBA) currently has a 14-day Commodity Channel Index (CCI) of 95.74. Despite the name, CCI can be used on other investment tools such as stocks. The CCI was designed to typically stay within the reading of -100 to +100. Traders may use the indicator to determine stock trends or to identify overbought/oversold conditions. A CCI reading above +100 would imply that the stock is overbought and possibly ready for a correction. On the other hand, a reading of -100 would imply that the stock is oversold and possibly set for a rally.

Technical traders often make a point of keeping an eye on the ATR or Average True Range of a particular equity. Currently, Pembina Pipeline Cor (PBA) has a 14-day ATR of 0.78. The Average True Range is an investor tool used to measure stock volatility. The ATR is not used to figure out price direction, just to measure volatility. The ATR is an indicator developed by J. Welles Wilder. Wilder has developed multiple indicators that are still quite popular in today’s investing landscape. The general interpretation of the ATR is the higher the ATR value, the higher the volatility.

Currently, the 14-day ADX for Pembina Pipeline Cor (PBA) is sitting at 22.30. Generally speaking, an ADX value from 0-25 would indicate an absent or weak trend. A value of 25-50 would support a strong trend. A value of 50-75 would identify a very strong trend, and a value of 75-100 would lead to an extremely strong trend. ADX is used to gauge trend strength but not trend direction. Traders often add the Plus Directional Indicator (+DI) and Minus Directional Indicator (-DI) to identify the direction of a trend.

Investors may be searching for various types of stocks to help diversify the portfolio. Growth stocks include shares of companies that may have the possibility of generating higher than average profit growth and revenues. These companies tend to pump earnings back into the business, and they generally expand quicker than the overall economy. Although growth stocks can be a bit riskier, they can also provide a higher level of reward down the line. Cyclical stocks consist of companies that typically will ride the wave of the overall economy. These shares tend to perform well when the economy is doing well and perform poorer when the economy is faltering.

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Canopy Growth (CGC) Trading 2.5% Higher

Canopy Growth Corp (NYSE:CGC)’s share price traded up 2.5% on Tuesday . The company traded as high as $43.56 and last traded at $43.54.

Canopy Growth logoCanopy Growth Corp (NYSE:CGC)’s share price traded up 2.5% on Tuesday . The company traded as high as $43.56 and last traded at $43.54. 700,365 shares were traded during mid-day trading, a decline of 90% from the average session volume of 6,819,044 shares. The stock had previously closed at $42.49.

A number of equities research analysts recently issued reports on the company. Piper Jaffray Companies assumed coverage on Canopy Growth in a research note on Wednesday, January 9th. They issued an “overweight” rating and a $40.00 price objective on the stock. Scotiabank assumed coverage on Canopy Growth in a research note on Wednesday, October 17th. They issued a “hold” rating and a $61.00 price objective on the stock. Zacks Investment Research cut Canopy Growth from a “hold” rating to a “sell” rating in a research note on Tuesday, October 16th. assumed coverage on Canopy Growth in a research note on Friday, October 12th. They issued a “sell” rating and a $30.00 price objective on the stock. They noted that the move was a valuation call. Finally, Benchmark assumed coverage on Canopy Growth in a research note on Tuesday, September 25th. They issued a “buy” rating on the stock. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $43.67.

The stock has a market cap of $8.88 billion, a price-to-earnings ratio of -139.25 and a beta of 3.31.

Canopy Growth (NYSE:CGC) last announced its quarterly earnings results on Wednesday, November 14th. The marijuana producer reported ($0.76) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.12) by ($0.64). Canopy Growth had a negative net margin of 503.14% and a negative return on equity of 26.32%. The company had revenue of $23.30 million for the quarter, compared to the consensus estimate of $59.10 million. The company’s revenue was up 32.4% compared to the same quarter last year. On average, equities research analysts expect that Canopy Growth Corp will post -0.87 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently made changes to their positions in CGC. Russell Investments Group Ltd. bought a new stake in shares of Canopy Growth during the second quarter valued at about $252,000. Legal & General Group Plc bought a new stake in shares of Canopy Growth during the second quarter valued at about $1,498,000. Great West Life Assurance Co. Can bought a new stake in shares of Canopy Growth during the second quarter valued at about $896,000. First Republic Investment Management Inc. bought a new stake in shares of Canopy Growth during the second quarter valued at about $809,000. Finally, Morgan Stanley bought a new stake in shares of Canopy Growth during the second quarter valued at about $35,365,000. Hedge funds and other institutional investors own 11.97% of the company’s stock.

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Canopy Growth Company Profile (NYSE:CGC)

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, Bedrocan Canada, CraftGrow, and Foria brand names.

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Canopy Growth Corp Forecasted to Earn Q3 2019 Earnings of ($0.05) Per Share (CGC)

Canopy Growth Corp (NYSE:CGC) – Equities research analysts at Piper Jaffray Companies issued their Q3 2019 earnings per share (EPS) estimates …

Canopy Growth logo

Canopy Growth Corp (NYSE:CGC) – Equities research analysts at Piper Jaffray Companies issued their Q3 2019 earnings per share (EPS) estimates for shares of Canopy Growth in a report issued on Tuesday, January 8th. Piper Jaffray Companies analyst M. Lavery forecasts that the marijuana producer will post earnings per share of ($0.05) for the quarter. Piper Jaffray Companies currently has a “Overweight” rating and a $40.00 target price on the stock. Piper Jaffray Companies also issued estimates for Canopy Growth’s Q4 2019 earnings at ($0.05) EPS, FY2019 earnings at ($0.84) EPS, Q1 2020 earnings at ($0.05) EPS, Q2 2020 earnings at ($0.07) EPS, Q3 2020 earnings at ($0.08) EPS, Q4 2020 earnings at ($0.08) EPS, FY2020 earnings at ($0.29) EPS, Q1 2021 earnings at ($0.07) EPS, Q2 2021 earnings at ($0.08) EPS, Q3 2021 earnings at ($0.08) EPS and FY2021 earnings at ($0.30) EPS.

Canopy Growth (NYSE:CGC) last announced its earnings results on Wednesday, November 14th. The marijuana producer reported ($0.76) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.64). Canopy Growth had a negative return on equity of 26.32% and a negative net margin of 503.14%. The business had revenue of $23.30 million for the quarter, compared to analyst estimates of $59.10 million. The company’s revenue for the quarter was up 32.4% compared to the same quarter last year.

CGC has been the subject of several other reports. Benchmark assumed coverage on shares of Canopy Growth in a report on Tuesday, September 25th. They set a “buy” rating for the company. Zacks Investment Research raised shares of Canopy Growth from a “sell” rating to a “hold” rating in a report on Friday, September 21st. Scotiabank assumed coverage on shares of Canopy Growth in a report on Wednesday, October 17th. They set a “hold” rating and a $61.00 price target for the company. Finally, assumed coverage on shares of Canopy Growth in a report on Friday, October 12th. They set a “sell” rating and a $30.00 price target for the company. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $43.67.

Shares of CGC opened at $38.25 on Friday. Canopy Growth has a fifty-two week low of $16.74 and a fifty-two week high of $59.25. The stock has a market cap of $7.80 billion, a PE ratio of -119.53 and a beta of 3.31.

A number of institutional investors have recently modified their holdings of the business. North Star Investment Management Corp. purchased a new position in Canopy Growth in the fourth quarter valued at about $26,000. J. L. Bainbridge & Co. Inc. acquired a new stake in shares of Canopy Growth in the third quarter valued at approximately $258,000. Vanguard Group Inc grew its position in shares of Canopy Growth by 4.4% in the third quarter. Vanguard Group Inc now owns 4,310,420 shares of the marijuana producer’s stock valued at $209,658,000 after purchasing an additional 180,130 shares during the last quarter. Marshall Wace North America L.P. acquired a new stake in shares of Canopy Growth in the third quarter valued at approximately $2,593,000. Finally, Belpointe Asset Management LLC acquired a new stake in shares of Canopy Growth in the third quarter valued at approximately $885,000. 11.97% of the stock is owned by institutional investors.

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, Bedrocan Canada, CraftGrow, and Foria brand names.

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Earnings History and Estimates for Canopy Growth (NYSE:CGC)

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Canopy Growth (WEED) Trading Up 4.6%

Shares of Canopy Growth Corp (TSE:WEED) were up 4.6% during trading on Thursday . The stock traded as high as C$47.19 and last traded at …

Canopy Growth logoShares of Canopy Growth Corp (TSE:WEED) were up 4.6% during trading on Thursday . The stock traded as high as C$47.19 and last traded at C$46.54. Approximately 1,238,032 shares were traded during trading, a decline of 45% from the average daily volume of 2,269,786 shares. The stock had previously closed at C$44.50.

Separately, Benchmark restated a “buy” rating and set a C$100.00 price objective on shares of Canopy Growth in a research report on Tuesday, September 25th.

The company has a debt-to-equity ratio of 49.44, a current ratio of 0.65 and a quick ratio of 0.44.

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Canopy Growth Company Profile (TSE:WEED)

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, Bedrocan Canada, CraftGrow, and Foria brand names.

Further Reading: How Do You Calculate Return on Investment (ROI)?

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