Canopy Growth (TSE:WEED) Releases Earnings Results

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

Canopy Growth Price Performance

WEED traded up C$0.01 during midday trading on Friday, reaching C$1.53. 916,210 shares of the company’s stock were exchanged, compared to its average volume of 2,566,951. The company has a quick ratio of 2.32, a current ratio of 1.39 and a debt-to-equity ratio of 120.38. The business has a 50-day simple moving average of C$1.73 and a two-hundred day simple moving average of C$1.79. The firm has a market capitalization of C$578.13 million, a price-to-earnings ratio of -0.57, a price-to-earnings-growth ratio of -0.01 and a beta of 1.76. Canopy Growth has a one year low of C$1.09 and a one year high of C$3.33.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on WEED shares. ATB Capital lowered their target price on Canopy Growth from C$1.60 to C$1.40 and set an “underperform” rating on the stock in a report on Thursday, December 11th. Sanford C. Bernstein lowered their price objective on shares of Canopy Growth from C$5.30 to C$2.50 in a research note on Wednesday, January 14th. Finally, Benchmark raised shares of Canopy Growth from a “sell” rating to a “hold” rating in a research report on Monday, November 10th. One analyst has rated the stock with a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, Canopy Growth has an average rating of “Sell” and a consensus target price 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.