Canopy Growth (TSE:WEED) Announces Quarterly Earnings Results

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

Canopy Growth Stock Performance

WEED opened at C$1.51 on Friday. The company has a debt-to-equity ratio of 120.38, a quick ratio of 2.32 and a current ratio of 1.39. The company has a market cap of C$570.57 million, a PE ratio of -0.57, a price-to-earnings-growth ratio of -0.01 and a beta of 1.76. The stock has a 50-day moving average of C$1.72 and a 200-day moving average of C$1.79. Canopy Growth has a 52-week low of C$1.09 and a 52-week high of C$3.33.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on WEED. ATB Capital dropped their price target on shares of Canopy Growth from C$1.60 to C$1.40 and set an “underperform” rating on the stock in a research note on Thursday, December 11th. Sanford C. Bernstein dropped their target price on Canopy Growth from C$5.30 to C$2.50 in a research report on Wednesday, January 14th. Finally, Benchmark raised Canopy Growth from a “sell” rating to a “hold” rating in a research note on Monday, November 10th. One equities research analyst has rated the stock with a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Sell” and a consensus target price of C$1.80.

About Canopy Growth

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.