Aurora Cannabis Inc. (ACB) closed at $0.72 in the latest trading session, marking a -0.29% move from the prior day. This move lagged the S&P 500's daily gain of 2.29%. At the same time, the Dow added 1.99%, and the tech-heavy Nasdaq gained 2.81%.
Heading into today, shares of the company had gained 0.42% over the past month, lagging the Medical sector's gain of 22.38% and the S&P 500's gain of 19.13% in that time.
ACB will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of -$0.04, up 50% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $46.93 million, down 4.23% from the prior-year quarter.
ACB's full-year Zacks Consensus Estimates are calling for earnings of -$0.94 per share and revenue of $197.92 million. These results would represent year-over-year changes of -327.27% and -0.07%, respectively.
Any recent changes to analyst estimates for ACB should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. 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. 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, 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. Over the past month, the Zacks Consensus EPS estimate has moved 3.41% higher. ACB currently has a Zacks Rank of #3 (Hold).
The Medical - Products industry is part of the Medical sector. This group has a Zacks Industry Rank of 28, putting it in the top 11% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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.