Canopy Growth (TSE:WEED) Issues Earnings Results

Canopy Growth (TSE:WEED) issued its earnings results on Monday. The company reported C($0.40) earnings per share for the quarter, FiscalAI reports. Canopy Growth had a negative return on equity of 47.41% and a negative net margin of 107.39%.The firm had revenue of C$71.25 million for the quarter.

Canopy Growth Stock Performance

TSE:WEED opened at C$1.39 on Tuesday. The company has a market capitalization of C$587.72 million, a P/E ratio of -0.75, a P/E/G ratio of -0.01 and a beta of 1.19. The business has a fifty day simple moving average of C$1.50 and a two-hundred day simple moving average of C$1.57. The company has a debt-to-equity ratio of 35.93, a current ratio of 5.34 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.

Analyst Ratings Changes

A number of brokerages have recently issued reports on WEED. ATB Cormark Capital Markets upgraded shares of Canopy Growth from a “sector perform” rating to an “outperform” rating and set a C$1.40 price objective for the company in a report on Tuesday, March 17th. Canaccord Genuity Group set a C$2.00 price objective on Canopy Growth and gave the stock a “speculative buy” rating in a research report on Friday, March 27th. Two research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, Canopy Growth presently has a consensus rating of “Moderate Buy” and an average price target of C$1.97.

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.