Back to top

Image: Bigstock

Aurora Cannabis Inc. (ACB) Gains But Lags Market: What You Should Know

Read MoreHide Full Article

Aurora Cannabis Inc. (ACB - Free Report) closed the most recent trading day at $3.69, moving +0.27% from the previous trading session. This move lagged the S&P 500's daily gain of 0.69%. At the same time, the Dow added 0.22%, and the tech-heavy Nasdaq gained 0.91%.

Heading into today, shares of the company had lost 28.68% over the past month, lagging the Medical sector's loss of 1.39% and the S&P 500's loss of 0.61% in that time.

Wall Street will be looking for positivity from ACB as it approaches its next earnings report date. On that day, ACB is projected to report earnings of -$0.03 per share, which would represent a year-over-year decline of 133.33%. Meanwhile, our latest consensus estimate is calling for revenue of $78.44 million, up 245.41% from the prior-year quarter.

Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.10 per share and revenue of $411.74 million. These totals would mark changes of +54.55% and +107.87%, respectively, from last year.

Investors should also note any recent changes to analyst estimates for ACB. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.

The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 15.15% lower. ACB is currently sporting a Zacks Rank of #3 (Hold).

The Medical - Products industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 105, which puts it in the top 42% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our 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.

To follow ACB in the coming trading sessions, be sure to utilize Zacks.com.


In-Depth Zacks Research for the Tickers Above


Normally $25 each - click below to receive one report FREE:


Aurora Cannabis Inc. (ACB) - free report >>

Published in