Aurora Cannabis Inc. (ACB) closed at $2.07 in the latest trading session, marking a +1.47% move from the prior day. The stock outpaced the S&P 500's daily gain of 0.11%. Elsewhere, the Dow lost 0.09%, while the tech-heavy Nasdaq added 0.2%.
Heading into today, shares of the company had gained 2.51% over the past month, outpacing the Medical sector's gain of 0.94% and lagging the S&P 500's gain of 3.25% in that time.
Wall Street will be looking for positivity from ACB as it approaches its next earnings report date. The company is expected to report EPS of -$0.04, unchanged from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $62.22 million, up 51.76% from the year-ago period.
ACB's full-year Zacks Consensus Estimates are calling for earnings of -$0.14 per share and revenue of $293.91 million. These results would represent year-over-year changes of +36.36% and +48.39%, respectively.
Investors should also note any 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.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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. Within the past 30 days, our consensus EPS projection has moved 6.81% lower. 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 93, putting it in the top 37% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Aurora Cannabis Inc. (ACB) : Free Stock Analysis Report
To read this article on Zacks.com click here.