Analysts estimate that Canopy Growth’s third-quarter revenue for fiscal 2023 will come in at $86.91 million, up 1.8% sequentially but down 22.0% year over year. The consensus estimate calls for an adjusted loss per share of $0.17, better than an adjusted loss of $0.24 in the prior quarter and worse than the year-ago loss of $0.13 per share. For the full 2023 fiscal year ending in March, analysts expect a loss of $0.98 per share, far worse than last year’s EPS of $0.42. Full-year revenue is forecast at $345.67 million, down about 17%.
Canopy Growth is not expected to post a profit in 2023, 2024 or 2025. The enterprise value to sales multiple is expected to be 4.8 in 2022. Based on average estimated sales of $409.81 million and $553.27 million for 2023 and 2024, respectively, the multiple is 4.0 for 2023 and 2.0 for 2024. The stock’s 52-week range is $2.09 to $9.61. Canopy Growth does not pay a dividend, and the total shareholder return for the past year is negative 63.9%.
PepsiCo
Snack food and soft drink maker PepsiCo Inc. (NYSE: PEP) has had about 1% skimmed from its share price over the past 12 months, including a drop of 5.8% so far in 2023. Last month the Federal Trade Commission reportedly opened an investigation into the pricing practices of PepsiCo and rival Coca-Cola. The stock gained about 6.5% in 2022. The company also took delivery of its first Tesla all-electric semis in December with a plan to take delivery of 100 trucks by the end of the year.
Of 23 brokerages covering the stock, 11 have a Buy or Strong Buy rating and another rate it at Hold. At a share price of around $170.00, the upside potential based on a median price target of $190.00 is about 11.8%. At the high price target of $210.00, the upside potential is 23.5%.
Fourth-quarter revenue is forecast at $26.83 billion, up 22.0% sequentially and by 6.3% year over year. Adjusted EPS are forecast to dip sequentially by 16.3% to $1.65 but rise by 7.8% year over year. For the full 2022 fiscal year, analysts expect PepsiCo to post revenue of $83.13 billion, up 7.4%, and EPS of $6.79, up 8.5%.
PepsiCo stock trades at 25.1 times expected 2022 EPS, 23.3 times estimated 2023 earnings of $7.30 and 21.5 times estimated 2024 earnings of $7.95 per share. The stock’s 52-week range is $153.37 to $188.84. PepsiCo pays an annual dividend of $4.60 (yield of 2.72%). Total shareholder return for the past year was 1.89%.
Under Armour
Sports apparel and gear maker Under Armour Inc. (NYSE: UAA) has dropped about 38% from its share price over the past 12 months. if not for the addition of about 20% since the beginning of the year, the loss would have been worse. Earlier this month, asset management giant BlackRock reported that it had boosted its holding of Under Armour’s stock by 4.5% and now owns 2.4% of the outstanding shares. The news sent the shares down more than 4% over the next few days.
Sentiment on the stock is bullish, with 13 of 29 analysts having a Buy or Strong Buy rating and 16 having Hold ratings. At a share price of around $12.00, the upside potential based on a median price target of $12.95 is about 8%. At the high target of $16.00, the upside potential is about 33%.
Third-quarter fiscal 2023 revenue is forecast at $1.55 billion, down 1.5% sequentially 5.4% higher year over year. Adjusted EPS are forecast to come in at $0.09, down 54.3% sequentially and by 55.6% year over year. For the full 2023 fiscal year, analysts have forecast EPS of $0.46, down 46%, on revenue of $5.86 billion, up 3.2%.
Under Armour stock trades at 24.8 times expected 2023 EPS, 17.4 times estimated 2024 earnings of $0.65 and 15.2 times estimated 2025 earnings of $0.75 per share. The stock’s 52-week range is $6.38 to $20.64. Under Armour does not pay a dividend. Total shareholder return over the past year is negative 38%.
Originally published at 24/7 Wall St.
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