Canopy Growth: Analysts Expect Q2 Revenues Of $142.5 Million

Canopy Growth Corp (TSX: WEED) (NASDAQ: CGC) announced that they will be reporting their fiscal second quarter financials before market open on November 5th.

Analysts have a consensus C$26.94 12-month price target on the company, via a total of 14 analysts, with 2 analysts having buy ratings, 11 have holds and 1 analyst has a strong sell rating on the stock. 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 Stifel-GMP with a C$15 price target.

13 analysts have revenue estimates for the second quarter. The mean between all 13 is C$142.49 million; this number has been revised downwards from C$191.25 million at the start May. The street high is C$173.10 million while the lowest sits at C$130 million.

Six analysts have estimates for what this quarter’s gross profit margin will be. They expect the profit margin to come in at 21.42%, with this number being revised downwards from 34.30% at the start of May. Street high goes to CIBC Capital Markets with a 26.50% estimate and the lowest sits at 16%.

Onto EBITDA estimates, there are currently 12 analysts who have second quarter EBITDA estimates. The mean is currently (C$52.35) million, with this number being lower at the start of May. Street high goes to Benchmark with a (C$36) million EBITDA estimate and the lowest being a (C$67.3) 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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