Canopy Growth: Analysts Anticipate Q1 Revenues Of $149 Million

Canopy Growth Corp (TSX: WEED) (NASDAQ: CGC) announced that they will be reporting their fiscal first quarter financials before market open on August 6.

Analysts have a consensus C$31.97 12-month price target on the company, via a total of 15 analysts, with one analyst having a strong buy rating, and three analysts have a buy rating. Nine analysts have a hold rating and two analysts have a strong sell rating. The street high comes from MKM Partners with a C$51 price target, and the lowest target comes from Bryan Garnier with a C$18 price target.

12 analysts have revenue estimates for the first quarter. The mean between all 12 is C$149.04 million; this number has been revised slightly downwards from C$175.35 million at the start of the year. The street high is C$163.70 million while the lowest sits at C$115.43 million.

Five analysts have estimates for what this quarter’s gross profit margin will be. They expect the profit margin to come in at 25%, with this number being revised slightly downwards from 30.67% at the start of the year. Street high goes to Stifel-GMP with a 28% estimate and the lowest sits at 20%.

Onto EBITDA estimates, there are currently 13 analysts who have first quarter EBITDA estimates. The mean is currently (C$64.51) million, with this number being lower at the start of the year. Street high goes to Oppenheimer with a (C$45) million EBITDA estimate and the lowest being a (C$83) million estimate.

Information for this briefing was found via Sedar and Refinitiv. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

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