Aurora Cannabis Inc. (ACB - Free Report) closed at $7.07 in the latest trading session, marking a -1.53% move from the prior day. This move lagged the S&P 500's daily gain of 0.52%. Elsewhere, the Dow gained 0.01%, while the tech-heavy Nasdaq added 1.21%.
Heading into today, shares of the company had lost 28.91% over the past month, lagging the Medical sector's of 0% and the S&P 500's gain of 0.49% in that time.
ACB will be looking to display strength as it nears its next earnings release, which is expected to be September 22, 2020. Our most recent consensus estimate is calling for quarterly revenue of $54.64 million, down 36% from the year-ago period.
Investors should also note any recent changes to analyst estimates for ACB. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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. Within the past 30 days, our consensus EPS projection has moved 8.24% lower. ACB is currently a Zacks Rank #3 (Hold).
The Medical - Products industry is part of the Medical sector. This group has a Zacks Industry Rank of 174, putting it in the bottom 32% 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.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.