Canopy Growth (CGC) (WEED) is expected to announce its results for the first quarter of fiscal 2020 after the market closed on Wednesday. The company's management will hold a conference call to discuss the results at 8:30 a.m. ET on Thursday. Canopy Growth: What to Expect From Your Profit Today “width =” “height =” “class =” alignnone size-medium wp -image-3424485 “title =” Растежът на балдахин: какво да очаквате от печалбата си днес “data-lazy-src =” https://marketrealist.imgix.net/uploads/2019/08/canopy-growth.jpg?w= 587 & h = auto & fit = max & auto = format “/>
Canopy Growth Stock in 201
So far, stocks have performed well this year . Canopy growth stocks have increased by 27.2% since the beginning of the year. Cronos Group (CRON) gained 27.8%, while Aurora Cannabis (ACB) gained 22.3% from the start of the week.
This week was exciting for cannabis stocks. Major cannabis players report their revenue. Stocks have increased due to impressive results. For more information, read IIPR, CRON, TLRY Surging: A Good Day for Cannabis Stocks.
For the first quarter of 2020, analysts expect Canopy Growth sales to grow 30.3% sequentially to $ 122 million from $ 94 million. In particular, they expect the company's gross margin to increase consistently from 15.9% to 34.0%. Analysts expect the company's loss per share to improve consistently to $ 0.59 from $ 0.98. Expansion costs are likely to result in a loss. There will probably be some updates on the leadership in calling Canopy Growth's growth profits due to the departure of Bruce Linton. Analysts expect Aurora Cannabis (ACB) revenue to grow to $ 108 million in the next quarter. Aurora Cannabis is scheduled to report earnings for the fourth quarter of 2019 next month.
To learn more about Canopy Growth Revenue, read Canopy Growth Revenue: 5 Things to Watch. ]
So far, canopy growth has grown 4.7% this month. Tilray (TLRY) rose 12.7% in August. Aurora Cannabis (ACB), Aphria (APHA) and HEXO (HEXO) rose 6.7%, 27.6%, 16.3% and 20.1% respectively in August. By contrast, CannTrust (CTST) dropped 5.1% in August due to a breach of regulations.
Currently, only two analysts are covering Canopy's growth. According to Reuters, one analyst recommends a "strong buy" for the next 12 months, while one recommends a "hold". Canopy Growth's stock price outlook is set at $ 46.5, which represents 36% upside potential. At the end of Tuesday, Canopy Growth's stock price is $ 34.2.
Cronos Group reported impressive second quarter earnings results last week. Overall, the results have raised the stock price. Recently, Jim Cramer, the host of CNBC's Crazy Money (19459010), favors the Cronos group and the growth of the sofa over other cannabis stocks. Read why Jim Kramer prefers CRON and CGC to learn more.
Aurora Cannabis (ACB) is scheduled to report its results for the fourth quarter of 2019 next month. The stock rose 1.5% on Tuesday. So far, shares have increased 34.1% since the beginning of the year. Cresco Labs is scheduled to report its second-quarter earnings results on August 21st. Stock transactions on the Canadian Stock Exchange under the ticker "CL". The stock rose 17.0% on Tuesday. The company has been approved for a New York-based marijuana licensing deal that drives stocks. So far, Cresco Labs has grown 32.4% YTD.
On August 8, Innovative Industrial Properties (IIPR) reported strong results for the second quarter of 2019. The stock rose 7.8% on Tuesday. So far, Innovative Industrial Properties has returned 136.6% year-on-year.
To learn more, read IIPR's Q2 earnings call: Key investor earnings and why Q2's Q2 earnings started strong.
Read the cannabis industry: What is the next phase? to learn more about the cannabis sector. Read Which are the Best Cannabis Stocks in August? for more industry updates in August.
Keep an eye out for more information on Canopy Growth's performance in the first quarter of 2020. We will provide key excerpts from the company's revenue statement.