Aurora Cannabis Inc. (ACB) closed at $0.80 in the latest trading session, marking a -1.27% move from the prior day. This move lagged the S&P 500’s daily gain of 7.03%. Meanwhile, the Dow gained 7.73%, and the Nasdaq, a tech-heavy index, added 7.33%.
Heading into today, shares of the company had lost 38.2% over the past month, lagging the Medical sector’s loss of 8.85% and the S&P 500’s loss of 16.9% in that time.
Wall Street will be looking for positivity from ACB as it approaches its next earnings report date. In that report, analysts expect ACB to post earnings of -$0.04 per share. This would mark year-over-year growth of 50%. Our most recent consensus estimate is calling for quarterly revenue of $49.96 million, up 1.96% from the year-ago period.
ACB’s full-year Zacks Consensus Estimates are calling for earnings of -$0.94 per share and revenue of $209.72 million. These results would represent year-over-year changes of -327.27% and +5.88%, respectively.
It is also important to note the recent changes to analyst estimates for ACB. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company’s business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 2.22% higher within the past month. ACB is currently a Zacks Rank #3 (Hold).
The Medical – Products industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 61, which puts it in the top 24% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1. (courtesy of Yahoo Finance)