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

Zacks Equity Research
·2 mins read

In the latest trading session, Aurora Cannabis Inc. (ACB) closed at $4.65, marking a -0.64% move from the previous day. This change lagged the S&P 500's 0.83% gain on the day. Elsewhere, the Dow gained 1.2%, while the tech-heavy Nasdaq added 0.74%.

Coming into today, shares of the company had lost 49.68% in the past month. In that same time, the Medical sector lost 1.64%, while the S&P 500 lost 4.83%.

Wall Street will be looking for positivity from ACB as it approaches its next earnings report date. In that report, analysts expect ACB to post earnings of -$0.24 per share. This would mark a year-over-year decline of 300%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $47.12 million, down 17.36% from the year-ago period.

For the full year, our Zacks Consensus Estimates are projecting earnings of -$0.88 per share and revenue of $233.06 million, which would represent changes of +69.23% and +12.15%, respectively, from the prior year.

Investors might also notice 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.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 3.82% lower. ACB is currently a Zacks Rank #4 (Sell).

The Medical - Products industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 183, which puts it in the bottom 28% 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.

Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.


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Zacks Investment Research