Aurora Cannabis Inc. (ACB) closed the most recent trading day at $9.06, moving +0.22% from the previous trading session. The stock outpaced the S&P 500’s daily gain of 0.11%. Elsewhere, the Dow gained 0.04%, while the tech-heavy Nasdaq added 0.19%.
Heading into today, shares of the company had gained 2.38% over the past month, outpacing the Medical sector’s loss of 4.15% and lagging the S&P 500’s gain of 4.42% 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 -$0.04 per share, which would represent no growth from the year-ago period. Our most recent consensus estimate is calling for quarterly revenue of $61.42 million, up 382.06% from the year-ago period.
ACB’s full-year Zacks Consensus Estimates are calling for earnings of -$0.18 per share and revenue of $224.47 million. These results would represent year-over-year changes of -250% and +417.53%, respectively.
Investors might also notice recent changes to analyst estimates for ACB. Recent revisions tend to reflect the latest near-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. The Zacks Consensus EPS estimate has moved 0.96% lower within the past month. ACB is currently a Zacks Rank #3 (Hold).
The Medical – Products industry is part of the Medical sector. This group has a Zacks Industry Rank of 150, putting it in the bottom 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.
