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Aurora Cannabis Inc. (ACB) Dips More Than Broader Markets: What You Should Know

Zacks Equity Research

Aurora Cannabis Inc. (ACB) closed the most recent trading day at $2, moving -0.99% from the previous trading session. This move lagged the S&P 500's daily loss of 0.71%. At the same time, the Dow lost 0.81%, and the tech-heavy Nasdaq lost 0.79%.

Coming into today, shares of the company had lost 17.21% in the past month. In that same time, the Medical sector gained 4.11%, while the S&P 500 gained 4.77%.

Investors will be hoping for strength from ACB as it approaches its next earnings release. In that report, analysts expect ACB to post earnings of -$0.04 per share. This would mark no growth from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $60.80 million, up 48.28% from the year-ago period.

Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.13 per share and revenue of $297.88 million. These totals would mark changes of +40.91% and +50.39%, respectively, from last year.

Investors might also notice recent changes to analyst estimates for ACB. These revisions typically reflect the latest short-term business trends, which can change frequently. 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. 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. Over the past month, the Zacks Consensus EPS estimate has moved 7% lower. ACB is currently sporting 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 102, which puts it in the top 40% 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.

To follow ACB in the coming trading sessions, be sure to utilize Zacks.com.

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