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Canopy Growth is set to report fiscal first-quarter earnings on Wednesday. It will be the first earnings report since co-founder and former CEO Bruce Linton’s departure.

Shares of the Canadian marijuana grower have gained about 21% in 2019, and 22% over the past 12 months.

Canopy Growth stock (ticker: CGC) was recently trading at 11.4 times estimated next annual sales, according to Bloomberg. Rivals Aphria (APHA) and Aurora Cannabis (ACB) trade at 2.1 and 7.6 times estimated next annual sales, respectively.

Here is a snapshot of Wall Street’s expectations and some recent history.

• Wall Street’s consensus estimate for Canopy’s fiscal first-quarter calls for an operating loss of $122.7 million with revenue of about $83.9 million But Canopy has missed consensus revenue estimates in five of the past eight quarters, according to Bloomberg.

• The grower has its fair share of bulls, and no bears. Of the 22 analyst ratings listed by Bloomberg, 14 are Buy or equivalent ratings and eight are Neutral. Analysts have an average price target of $52.04—representing 59% upside from current levels.

• Cowen’s Vivien Azer wrote in a note to clients Monday that she expects first-quarter revenues in line with consensus estimates. She noted that recreational and medical cannabis revenue declined about 9% quarter-over-quarter in the fourth quarter, but she looks for about 20% growth this time around.

•The last time Canopy reported earnings, Wall Street—and even 38% stakeholder Constellation Brands (STZ)—reacted negatively to the results.

• Constellation CEO Bill Newlands, who sits on Canopy’s board with three other people with ties to the beer-maker, said on Constellation’s earnings call, “We were not pleased with Canopy’s recent reported year-end results.” Constellation reported a $39 million loss from its stake in Canopy that quarter.

•Then-CEOBruce Linton told Barron’s that Canopy’s results that quarter were impacted by investment in production capacity and intellectual property. But just more than a week later, Linton was out. Mark Zekulin, who served as the other co-CEO with Linton, became the sole chief executive while the company launched a search for a new leader.

• Constellation Brands was widely seen as a driver of the change. The company said at the time it fully supported the board’s decision to appoint Zekulin as CEO.

•CFO Mike Lee said last month that Canopy’s Ebitda—or earnings before interest, taxes, depreciation and amortization—could be negative for the next two fiscal years. Jefferies’ Ryan Tomkins said Canopy hopes its Canadian operations are profitable during fiscal-year 2021.

Write to Connor Smith at connor.smith@barrons.com