Aurora Cannabis Inc. (ACB - Free Report) closed at $2.13 in the latest trading session, marking a -0.93% move from the prior day. This change lagged the S&P 500's daily gain of 0.39%. Elsewhere, the Dow gained 0.17%, while the tech-heavy Nasdaq added 0.34%.
Heading into today, shares of the company had lost 5.29% over the past month, lagging the Medical sector's gain of 2.2% and the S&P 500's gain of 4.73% in that time.
Investors will be hoping for strength from ACB as it approaches its next earnings release. On that day, ACB is projected to report earnings of -$0.04 per share, which would represent no growth from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $62.22 million, up 51.76% from the year-ago period.
ACB's full-year Zacks Consensus Estimates are calling for earnings of -$0.14 per share and revenue of $293.91 million. These results would represent year-over-year changes of +36.36% and +48.39%, respectively.
It is also important to note the recent changes to analyst estimates for ACB. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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 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 14.29% lower within the past month. ACB is holding a Zacks Rank of #3 (Hold) right now.
The Medical - Products industry is part of the Medical sector. This group has a Zacks Industry Rank of 111, putting it in the top 44% 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.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.