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MarketScreener Homepage  >  Equities  >  Toronto Stock Exchange  >  Canopy Growth Corporation    WEED   CA1380351009

CANOPY GROWTH CORPORATION

(WEED)
  Report  
Delayed Quote. Delayed Toronto Stock Exchange - 12/09 04:00:00 pm
28.17 CAD   +13.96%
03:05pCANOPY GROWTH : Names Constellation's David Klein as CEO -- Update
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09:16aDAVID KLEIN : Top Company News of the Day
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09:11aCANOPY GROWTH : Constellation tightens grip on Canopy with CEO appointment
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Canopy Growth : shares fall after Constellation Brands says no plans for more investment

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11/22/2019 | 03:56pm EST

TORONTO — Shares of Canopy Growth Corp. were trading down close to nine per cent after global alcohol giant Constellation Brands Inc. said it did not plan to make any more cash contributions to the cannabis firm.

Constellation Brands made the comment in a U.S. regulatory filing where it says it expects to record a comparable nine month net loss of US$125.4 million in its Canopy investment.

U.S.-based Constellation Brands says it still holds warrants to buy Canopy Growth shares, including some priced at less than half Canopy's current share price, but that it will evaluate use of the blocks of warrants prior to their expiration in May next year and in November 2023.

Constellation says that beyond the warrants, it does not plan any further cash contributions to the company as it says Canopy is adequately capitalized with more than $2.7 billion in cash and marketable securities as of Sept. 30.

The company behind brands like Corona beer announced a deal in August of last year to invest $5 billion in Canopy Growth to secure a 38 per cent ownership of the company.

Since legalization, Canadian cannabis companies have struggled on profitability and many have missed expectations, driving share prices down. Canopy's shares, which hit a high of $70.98 in April, were trading down $2.36 or 8.7 per cent at $24.67 in late afternoon trading on the Toronto Stock Exchange.

This report by The Canadian Press was first published on Nov. 24, 2019.

Companies mentioned in this article: (TSX:WEED)

© 2019 The Canadian Press. All rights reserved., source Canadian Press DataFile

Stocks mentioned in the article
ChangeLast1st jan.
CANOPY GROWTH CORPORATION 13.96% 28.17 Delayed Quote.-32.48%
CONSTELLATION BRANDS, INC. -1.30% 181.27 Delayed Quote.14.20%
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Latest news on CANOPY GROWTH CORPORATION
03:05pCANOPY GROWTH : Names Constellation's David Klein as CEO -- Update
DJ
09:16aDAVID KLEIN : Top Company News of the Day
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Financials (CAD)
Sales 2020 412 M
EBIT 2020 -725 M
Net income 2020 -2 054 M
Finance 2020 1 616 M
Yield 2020 -
P/E ratio 2020 -4,41x
P/E ratio 2021 -21,3x
EV / Sales2020 17,0x
EV / Sales2021 1,86x
Capitalization 8 617 M
Chart CANOPY GROWTH CORPORATION
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Technical analysis trends CANOPY GROWTH CORPORATION
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Income Statement Evolution
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Mean consensus OUTPERFORM
Number of Analysts 24
Average target price 32,23  CAD
Last Close Price 24,72  CAD
Spread / Highest target 244%
Spread / Average Target 30,4%
Spread / Lowest Target -31,2%
EPS Revisions
Managers
NameTitle
Mark Zekulin Chief Executive Officer & Director
Rade Kovacevic President
David Eric Klein Chairman
Andre Fernandez Chief Operating Officer
Mike Lee Chief Financial Officer
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