Aurora Cannabis Inc. (ACB) closed the most recent trading day at $2.25, moving -0.88% from the previous trading session. This change lagged the S&P 500's 0.49% gain on the day. At the same time, the Dow added 0.28%, and the tech-heavy Nasdaq gained 0.43%.
Heading into today, shares of the company had lost 27.24% over the past month, lagging the Medical sector's gain of 5.22% and the S&P 500's gain of 2.9% in that time.
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 -$0.04 per share, which would represent no growth from the year-ago period. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $68.31 million, up 66.61% 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 $325.46 million. These totals would mark changes of +40.91% and +64.31%, respectively, from last year.
Investors should also note any 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.
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. The Zacks Consensus EPS estimate has moved 1.01% lower within the past month. ACB currently has a Zacks Rank of #3 (Hold).
The Medical - Products industry is part of the Medical sector. This group has a Zacks Industry Rank of 99, putting it in the top 39% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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.