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Aurora Cannabis Inc. (ACB) Gains As Market Dips: What You Should Know

Zacks Equity Research

Aurora Cannabis Inc. (ACB) closed at $0.91 in the latest trading session, marking a +1.97% move from the prior day. This move outpaced the S&P 500's daily loss of 1.6%. Elsewhere, the Dow lost 1.84%, while the tech-heavy Nasdaq lost 0.95%.

Coming into today, shares of the company had lost 34.74% in the past month. In that same time, the Medical sector lost 4.88%, while the S&P 500 lost 10.82%.

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 -$0.06 per share, which would represent year-over-year growth of 25%. Meanwhile, our latest consensus estimate is calling for revenue of $49.96 million, up 1.96% from the prior-year quarter.

For the full year, our Zacks Consensus Estimates are projecting earnings of -$0.94 per share and revenue of $209.72 million, which would represent changes of -327.27% and +5.88%, respectively, from the prior year.

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Investors should also note any 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.

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. Within the past 30 days, our consensus EPS projection has moved 2.22% higher. ACB currently has a Zacks Rank of #3 (Hold).

The Medical - Products industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 52, which puts it in the top 21% 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.


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