Canopy Growth (TSE:WEED) Announces Quarterly Earnings Results

Canopy Growth (TSE:WEED) posted 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 business had revenue of C$71.25 million during the quarter.

Canopy Growth Price Performance

Shares of WEED stock opened at C$1.41 on Monday. The company has a quick ratio of 2.32, a current ratio of 5.34 and a debt-to-equity ratio of 35.93. The stock has a market cap of C$596.17 million, a price-to-earnings ratio of -0.76, a PEG ratio of -0.01 and a beta of 1.19. The business’s fifty day moving average is C$1.50 and its 200 day moving average is C$1.57. Canopy Growth has a twelve month low of C$1.18 and a twelve month high of C$3.28.

Wall Street Analyst Weigh In

WEED has been the topic of a number of research analyst reports. ATB Cormark Capital Markets upgraded Canopy Growth from a “sector perform” rating to an “outperform” rating and set a C$1.40 price objective on the stock in a research note on Tuesday, March 17th. Canaccord Genuity Group set a C$2.00 price objective on Canopy Growth and gave the company 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 assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price 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.