The latest trading session saw Canopy Growth Corporation (CGC) ending at $5.04, denoting a +1.2% adjustment from its last day's close. The stock exceeded the S&P 500, which registered a loss of 0.92% for the day. On the other hand, the Dow registered a loss of 0.96%, and the technology-centric Nasdaq decreased by 1.6%.

The the stock of company has risen by 8.26% in the past month, leading the Medical sector's loss of 4.16% and the S&P 500's gain of 2.68%.

Market participants will be closely following the financial results of Canopy Growth Corporation in its upcoming release. On that day, Canopy Growth Corporation is projected to report earnings of -$0.38 per share, which would represent year-over-year growth of 78.89%. Simultaneously, our latest consensus estimate expects the revenue to be $46.84 million, showing a 9.71% drop compared to the year-ago quarter.

For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of -$2.24 per share and a revenue of $203.01 million, representing changes of +44.69% and -16.97%, respectively, from the prior year.

It is also important to note the recent changes to analyst estimates for Canopy Growth Corporation. Recent revisions tend to reflect the latest near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.

Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.

The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. Right now, Canopy Growth Corporation possesses a Zacks Rank of #4 (Sell).

The Medical - Products industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 66, which puts it in the top 27% of all 250+ industries.

The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.