|Bid||7.60 x 0|
|Ask||7.61 x 0|
|Day's Range||7.54 - 7.73|
|52 Week Range||6.21 - 16.24|
|Beta (3Y Monthly)||2.76|
|PE Ratio (TTM)||N/A|
|Earnings Date||Nov 11, 2019 - Nov 15, 2019|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||11.95|
After a "weak" fourth quarter, Aurora Cannabis Inc. (TSX:ACB)(NYSE:ACB) looks like a play that could make investors rich come 2020 and beyond.
Despite failing to deliver results on par with analysts estimates, here is why Aurora Cannabis Inc. (TSX:ACB)(NYSE:ACB) is still an interesting option.
Are you better off buying cannabis stocks like Aurora Cannabis Inc (TSX:ACB)(NYSE:ACB) or tech startups like Lightspeed POS Inc (TSX:LSPD)?
The cannabis sector is not the instant money maker it once was for investors, but stocks like Canopy Growth Corp (TSX:WEED)(NYSE:CGC) can still offer value.
Aurora Cannabis just booked the biggest cannabis revenues in the industry, but analysts are paring back expectations as the company warns of “volatile” quarterly revenues and a sales “plateau” into the end of the calendar year.
Weed stocks have taken a beating since April. Cronos Group Inc (TSX:CRON)(NASDAQ:CRON), Aurora Cannabis (TSX:ACB)(NYSE:ACB), and CannTrust Holdings Inc (TSX:TRST)(NYSE:CTST) are amongst those that have fallen.
London Stock Exchanges Rebuffs Hong Kong Hong Kong is in the news again, but this time not for rioting. The London Stock Exchange (OTCMKTS:LNSTY), which trades over the counter in the US, has rejected the preliminary $37 billion takeover bid from Hong Kong Exchanges and Clearing (OTCMKTS:HKXCY), and has also said that it has no interest […]The post Market Morning: LSE Rebuffs Hong Kong, China US Ceasefire, Secret Cannabis Formula, ECB Printing Resumes appeared first on Market Exclusive.
Legalizing medical marijuana has been a challenge in Florida. Looking at the initiatives, recreational legalization might see daylight in Florida by 2020.
Aurora Cannabis posted its fourth-quarter earnings after the market closed on Wednesday. The company posted revenues of 98.9 million Canadian dollars.
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Shares of Aurora Cannabis tumbled by nearly nine per cent after the pot producer's fourth-quarter revenues fell short of its own guidance and signalled a longer pathway to profitability, pointing to the slow rollout of brick-and-mortar retail cannabis stores.Chief corporate officer Cam Battley said the revenue miss "shouldn't have happened," but noted that it stemmed from some of the company's non-core cannabis revenues, such as analytical testing and patient counselling.He added that while the company had earlier anticipated it would reach positive EBITDA in the latest quarter, it will likely be in the fiscal 2020 year given that fewer than expected retail outlets have opened their doors."If there were a broader retail infrastructure, and more stores available in Canada and open, that pretty likely would have made the difference toward us reaching that milestone," he said in an interview.The Edmonton-based company's stock slipped as low as $7.72 in morning trading on the Toronto Stock Exchange on Thursday, down 9.2 per cent from its previous close of $8.51, but had recovered slightly to close at $7.75.Aurora reported $98.9 million in net revenues for the quarter ended June 30, up from $19.1 million a year ago but lower than the range of between $100 million and $107 million predicted in company estimates released last month. Analysts had expected revenues of $108.25 million, according to financial markets data firm Refinitiv.The cannabis company also reported an adjusted loss before interest, taxes and depreciation of $11.7 million, an improvement from a loss of $36.6 million in the third quarter but not positive EBITDA, as the company previously said it would like to reach at this stage.Chief financial officer Glen Ibbott pointed to the slow growth of cannabis retail stores, particularly in Ontario — Canada's biggest market for pot."We are still at the mercy, I think, of the timing of the retail footprint rollout," Ibbott said on a call with analysts on Thursday."We're excited that Ontario has licensed a number of new stores, but you know they should be licensing hundreds of new stores. So there is still a lot of room to go, and the timing of that will dictate how exactly how large the market grows."It's been nearly one year since Canada legalized cannabis for recreational use, starting with flower, seeds, plants and oils, in October. However, the footprint of legal pot stores has been slower to develop in some provinces than others. For example, while Alberta already hundreds of licensed retailers, Ontario will have 75 retail outlets by October of this year, after the latest lottery process for the opportunity to apply for the 50 new licences.Ibbott added that it is unclear when provincial and territorial governments will start taking products for the legalization of edibles, vapes and topicals later this year. These new categories of products are due to hit retail shelves in mid-December at the earliest.Tamy Chen, an analyst with BMO Capital Markets, said Aurora's latest results were "mixed." While the pot producer expanded its share of the recreational market during the quarter, Aurora indicated that their sales volumes may be "volatile" from quarter to quarter, she said in a note to clients.While the currently limited number of retail stores is a temporary issue, it is unclear how quickly this bottleneck could be resolved in the quarters ahead, Chen said."In addition, we consider that potential challenges associated with the value-add product roll-out may not be fully recognized at this point," she wrote in the note. "We believe there will likely be bottlenecks in industry distribution channels that would limit the sell-in of these products to provinces and retailers in H1/20."While the initial post-legalization rollout — starting with flower, seeds, plants and oils — was fraught with supply chain issues, Battley expects the launch of so-called Cannabis 2.0 to be much better.There is more infrastructure in place now, and the distribution points already have experience, he added."It's likely to be a little bit bumpy at the beginning... But I would imagine it will likely be smoother than it was the first time around." Companies in this story: (TSX:ACB)Armina Ligaya, The Canadian Press
TORONTO — Some of the most active companies traded Thursday on the Toronto Stock Exchange:Toronto Stock Exchange (16,643.28, up 32.14 points).First Quantum Minerals Ltd. (TSX:FM). Materials. Up 79 cents, or 8.55 per cent, to $10.03 on 11.8 million shares.Aurora Cannabis Inc. (TSX:ACB). Health care. Down 76 cents, or 8.93 per cent, to $7.75 on 11.3 million shares.Canadian Natural Resources Ltd. (TSX:CNQ). Energy. Unchanged at $33.52 on 8.8 million shares.Encana Corp. (TSX:ECA). Energy. Down eight cents, or 1.28 per cent, to $6.19 on 8.3 million shares.Manulife Financial Corp. (TSX:MFC). Financials. Up 17 cents, or 0.72 per cent, to $23.92 on 8.1 million shares.Baytex Energy Corp. (TSX:BTE). Energy. Up three cents, or 1.6 per cent, to $1.90 on 7.8 million shares. Companies in the news:Empire Co. Ltd. (TSX:EMP.A). Down 23 cents to $35.64. Empire Co. Ltd. says it has largely completed major structural changes as part of a turnaround plan but it is already looking to the next phase for the company. The parent company of the Safeway and Sobeys grocery chains says it achieved $200 million in benefits in fiscal 2019 and expects another $250 million in benefits in the final year of the three-year program it called Project Sunrise. For the first quarter it earned a profit of $130.6 million, up from $95.6 million in the same quarter last year.Aimia Inc. (TSX:AIM). Down one cent to $3.37. A group of shareholders at Aimia Inc. is seeking to overthrow half of the board, which presided over the sale of its flagship Aeroplan program earlier this year as well as months of tumult around control of the company. The group, dubbed Aimia Shareholders for Accountability, filed a formal requisition with the board Thursday demanding a special meeting to replace four directors. Charles Frischer, a Seattle-based investor who speaks for the group, is calling for himself and three others to take the place of chairman Bill McEwan and chief executive Jeremy Rabe along with two others. He notes Aimia has lost more than 80 per cent of its stock value over the past five years.Dollarama Inc. (TSX:DOL). Down 34 cents to $48.14. A protracted trade war between the United States and China could make it more challenging for Dollarama Inc. to find new products that appeal to its customers' desire to hunt for "treasures," the discount retailer's CEO said Thursday. Chinese factories are on standby and not creating new moulds or putting money into research and development on products destined for the U.S. market because of the trade instability, Neil Rossy said during a conference call about it's second-quarter results. The Montreal-based retailer reported a profit of $143.2 million in its latest quarter as its sales grew nine per cent compared with a year ago.Hudson's Bay Co. (TSX:HBC). Up one cent to $10.21. Hudson's Bay Co. reported a $984-million loss in its latest quarter as its bottom line was eroded by a number of one-time charges and its flagship Canadian retail banner experienced weaker sales compared with last year. The owner of the Hudson's Bay chain of department stores, as well as the New York-based Saks Fifth Avenue luxury chain and Saks Off 5th outlets, said the loss amounted to $5.35 per share for the quarter ended Aug. 3. That compared with a year-earlier loss of $280 million or $1.45 per share. HBC's overall revenue totalled $1.9 billion, roughly the same as a year ago, while comparable sales fell 0.4 per cent.Transat AT Inc. (TSX:TRZ). Unchanged at $15.20. Transat AT Inc.'s third-quarter net loss more than doubled from the same time last year as the tour operator worked to complete its takeover by Air Canada. The Montreal-based company lost $11 million in the quarter ended July 31 versus its $5-million net loss the year prior. The push to close Transat's sale to Air Canada heaped on an extra $14 million in costs in its third quarter, including $6 million in professional fees and $7.7 million in stock-based compensation for executives. Offsetting part of the expense were more travellers opting to book last-minute flights — typically pricier than long-term bookings — in a "surprising" trend that boosted revenue per passenger, chief operating officer Annick Guerard said.The Canadian Press
Aurora Cannabis Inc (TSX:ACB)(NYSE:ACB) may be the best-performing cannabis stock on the TSX according to fiscal year 2019 earnings.
On Tuesday, Eight Capital removed its target price for CannTrust Holdings due to uncertainty about the risks involved in the company's future operations.
Let us take a look at what the cash situation is like for the three largest pot companies: Aphria Inc. (TSX:APHA)(NYSE:APHA), Aurora Cannabis Inc. (TSX:ACB)(NYSE:ACB), and Canopy Growth Corp. (TSX:WEED)(NYSE:CGC).