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Canopy growth: What can be expected from its result today?



Canopy Growth (CGC) (WEED) announces its results for the first quarter of fiscal year 2020 after the market closed on Wednesday. The company's management will hold a conference call on Thursday at 8:30 am ET to discuss the results.

  Canopy growth: What can be expected from its result today?

Canopy Growth Share in 201
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So far, the stock has performed well this year. The Canopy Growth share has risen by 27.2% since the beginning of the year. The Cronos Group (CRON) has gained 27.8% while the Aurora Cannabis (ACB) has gained 22.3% since the beginning of the year.

This week was exciting for cannabis stocks. Big cannabis players have reported their earnings. The shares have risen due to impressive results. For more information, see IIPR, CRON, TLRY Surging: A Good Day for Cannabis Stocks.

Analyst Expectations

For the first quarter of 2020, analysts expect Canopy Growth revenue to increase sequentially by 30.3% to 122 million Canadian dollars from 94 million Canadian dollars. In particular, they expect the company's gross margin to increase gradually from 15.9% to 34.0%. Analysts are predicting that the company's loss per share will gradually improve from $ 0.98 to $ 0.59. Expansion costs are likely to drive the loss. With the departure of Bruce Linton, there will likely be some leadership updates in the Canopy Growth Results Report. Analysts expect Aurora Cannabis (ACB) sales to grow to 108 million Canadian dollars in the coming quarter. Aurora Cannabis is expected to report its earnings for the fourth quarter of 2019 next month.

To learn more about Canopy Growth's profits, read Canopy Growth's Earnings: 5 Things to Look Out for.

Canopy Growth

So far, canopy growth has increased by 4.7% this month. Tilray (TLRY) rose 12.7% in August. Aurora cannabis (ACB), Aphria (APHA) and HEXO (HEXO) increased 6.7%, 27.6%, 16.3% and 20.1% in August, respectively. By contrast, CannTrust (CTST) fell 5.1% in August due to regulatory breaches.

Price Coverage

Only two analysts currently cover Canopy Growth. According to Reuters, one analyst recommended a "strong buy" for the next 12 months, while one recommended a "hold". The stock forecast of Canopy Growth shows the price target of $ 46.5, which represents an upside potential of 36% for the year Stock. At the close on Tuesday, Canopy Growth's share price was $ 34.2.

Comparative Performance

The Cronos Group reported impressive second-quarter results last week. Overall, the results have driven up the share price. Recently, Jim Cramer, the host of CNBC's Mad Money Cronos Group and Canopy Growth, opposed to other cannabis stocks. Read why Jim Cramer prefers CRON and CGC to learn more.

Aurora Cannabis (ACB) is expected to release its results for the fourth quarter of 2019 next month. The stock rose 1.5% on Tuesday. So far, the share has risen by 34.1% since the beginning of the year. Cresco Labs expects to announce its Q2 earnings figures on August 21st. The stock trades on the Canadian Stock Exchange under the ticker "CL". The stock rose 17.0% on Tuesday. The company received approval for the New York Marijuana License Agreement, which powered the stock. So far, Cresco Labs has risen 32.4% since the beginning of the year.

On August 8, Innovative Industrial Properties (IIPR) reported strong second quarter results in 2019. The stock gained 7.8% on Tuesday. So far, Innovative Industrial Properties has achieved a return of 136.6% year-on-year.

For more information, see the Q2 win request from IIPR: Key insights for investors and why the Q2 earnings of IIPR have risen sharply.

Read cannabis industry: What is the next phase? to learn more about the cannabis sector. Read which cannabis stocks are the best in August. Further industry updates will be available in August.

For more information on Canopy Growth's performance in the first quarter of 2020, click here. We will provide you with important insights from the company's earnings report.


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