In the latest trading session, Aurora Cannabis Inc. (ACB) closed at $9.80, marking a -1.61% move from the previous day. This change lagged the S&P 500's 0.29% loss on the day. Meanwhile, the Dow lost 0.55%, and the Nasdaq, a tech-heavy index, added 0.07%.
Prior to today's trading, shares of the company had gained 43.72% over the past month. This has outpaced the Medical sector's gain of 2.03% and the S&P 500's gain of 2.14% in that time.
ACB will be looking to display strength as it nears its next earnings release. On that day, ACB is projected to report earnings of -$0.05 per share, which would represent a year-over-year decline of 25%. Our most recent consensus estimate is calling for quarterly revenue of $61.42 million, up 382.06% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.17 per share and revenue of $224.47 million. These totals would mark changes of -241.67% and +417.53%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for ACB. 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.
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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 3.7% higher 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 74, putting it in the top 30% 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.
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Aurora Cannabis Inc. (ACB) : Free Stock Analysis Report
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